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    Jonesboro Commercial Property For Sale Title is generated by Realmo AI

    23 Lee Street, Jonesboro, GA 30236

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    Claim this Listing
    For Sale
    $284,000

    COMMERCIAL - Jonesboro, GA

    Type:Office
    Property size:
    1,764 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $160/SF
    Added:
    Oct 31, 2025
    Days on Market:
    215
    Last Refresh:
    Jun 2 at 2:06 pm

    Property Features for 23 Lee Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Parking
    6
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    13241A B025
    Size
    1,764 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Year
    23
    Tax Annual Amount
    2472

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Zoned, Central, Forced Air
    Cooling system
    Central Air, Zoned, Electric
    Water source
    Public

    Building Details

    Year built
    1984
    Flooring type
    Carpet, Laminate, Vinyl
    Building materials
    Brick, Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Rhonda Ross
    Rhonda Ross

    Listing agent Rhonda Ross License #179111

    Listing office RE/MAX SOUTHERN 232 S 10th Street, Griffin, GA

    Listing date Oct 31, 2025

    MLS# 10696390

    Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime commercial location in the Heart of Jonesboro, situated in a busy mixed‑use/office district with Commercial zoning.
    • Move‑in ready condition due to recent remodeling.
    • Versatile, two‑story all‑brick building with approximately 1764 square feet of space.
    • Includes spacious offices, meeting/conference rooms, a reception area, and 3.5 bathrooms.
    • Convenient access to Atlanta Hartsfield‑Jackson International Airport, restaurants, and essential services.
    • Features built‑in bookcases.

    Overview

    This two-story, all-brick commercial building is located in a busy mixed-use and office district in Jonesboro, Georgia, with commercial zoning. The property offers approximately 1764 square feet, featuring spacious offices, meeting and conference rooms, a reception area, and three and a half bathrooms. Built-in bookcases are included. The building has been recently remodeled and is move-in ready. Previously used as an attorney's office, the property is available for establishing or relocating a business. The location is minutes from Atlanta Hartsfield-Jackson International Airport, restaurants, and other essential services. The lot size is 0.09 acres.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $42.1k $23.87
    − Vacancy −$10.6k −$6.02
    EGI $31.5k $17.85
    − OpEx −$7.9k −$4.46
    NOI $23.6k $13.39
    1,764 SF · lease $23.87/SF/yr · vacancy 25.20% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $337.5K
    $295.3K – $393.7K (±1% cap)
    NOI $23,622 @ 7.0% cap · market cap 8.32%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $493.1K
    $431.5K – $575.3K (±1% cap)
    NOI $34,517 @ 7.0% cap · market cap 12.15%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Keen, Randall L Law Firm Watts & Watts Law Firm Watts & Watts: Watts ... Law Firm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jonesboro
    County
    Clayton
    State
    Georgia
    Longitude
    -84.357199
    Latitude
    33.521834

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    FAQs

    What type of property is this?
    Office building - Two-story commercial building in a busy mixed-use district.
    Where is this office building located?
    The property is located at 23 Lee Street Jonesboro, GA.
    What is the asking price?
    The asking price for this property is $284,000.
    What are key features of this property?
    This property features: Prime commercial location in the Heart of Jonesboro, situated in a busy mixed‑use/office district with Commercial zoning.; Move‑in ready condition due to recent remodeling.; Versatile, two‑story all‑brick building with approximately 1764 square feet of space.
    (770) 616-6817
    We can help!
    Listing Contact
    Rhonda Ross
    Rhonda Ross
    Real Estate License ID: 179111
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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