Flex Space with Three Bay
For Sale
$545,000
24 Hardwood Ridge Parkway, Adairsville, GA 30103
Commercial Sale, Adairsville, GA
Property Size2,800 SF
Lot Size0.65 Acres
Price / SF$194.64
Days on Market77
Property Features for 24 Hardwood Ridge Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IN
Parking
50
Parking features
Parking Lot
Interior features
High Ceilings 10 or Greater, Reception Area, Restrooms
Lot features
Industrial Park, Level
Directions
GPS compatible Follow I-75 N to GA-140 W in Adairsville. Take exit 306. Follow GA-140 W and US-41 N/Joe Frank Harris Pkwy NW to Hardwood Ridge Pkwy (Ace Hardware in on the corner). Take a right onto Hardwood Ridge Pkwy, building is on the right.
Standard status
Active
APN
A010 0172 005
Size
2,800 SF
Lot size
0.65 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2580
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Water source
Public
Amenities
kitchenette
full bathroom
storage rooms
Building Details
Year built
1998
Floors in Building
1
Flooring type
Concrete
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Atlanta Communities
(770) 240-2005
Listed By:
Cheryl Meredith · License #356884
(678) 925-3645
Added: Jun 15
Changed: Aug 25
Last Checked: Aug 30 at 10:06AM
MLS# 7788711
Copyright © 2026 First Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,800-square-foot flex space is a 1998 metal-sided building on a 0.65-acre level lot. The layout includes approximately 200 square feet of office and reception area, three bay doors, 12-foot ceilings, additional storage rooms, a kitchenette, and a full bathroom. Concrete flooring, a newer metal roof, and insulation provide practical features for warehouse and service-oriented operations. The property is zoned IN and includes water service, public water, and a septic tank.
Located at 24 Hardwood Ridge Parkway in Adairsville, the property sits near Hwy 41 and I-75, behind Tru-Value Hardware. Parking includes approximately 50 spaces at the rear and 20 spaces at the front. The combination of open warehouse area, support space, loading access, and parking accommodates a range of commercial configurations, including owner-user operations, storage, distribution, and service businesses.
Located at 24 Hardwood Ridge Parkway in Adairsville, the property sits near Hwy 41 and I-75, behind Tru-Value Hardware. Parking includes approximately 50 spaces at the rear and 20 spaces at the front. The combination of open warehouse area, support space, loading access, and parking accommodates a range of commercial configurations, including owner-user operations, storage, distribution, and service businesses.
Key Highlights
- 2,800‑square‑foot flex building on 0.65 acres
- Three bay doors and 12‑foot ceilings
- Approximately 200 square feet of office/reception space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,554
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$411,080
$411.1K
Cap Rate 7%
$293,629
$293.6K
Cap Rate 9%
$228,378
$228.4K
Market Conditions
NOI Build-Up for 2,800 SF
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.
Gross rent
$26.5K $9.48/SF
− Vacancy
−$2.4K −$0.84/SF
EGI
$24.2K $8.64/SF
− OpEx
−$3.6K −$1.30/SF
NOI
$20.6K $7.34/SF
Area
Bartow County, GA
Vacancy
8.90%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$411,080
Cap Rate 7%
$293,629
Cap Rate 9%
$228,378
Alternative Uses
Best Use
Warehouse
$293.6K
$256.9K – $342.6K
NOI $20,554 @ 7.0% cap · market cap 3.77%
Second Best
Industrial
$243.7K
$213.2K – $284.3K
NOI $17,057 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$786.2K
$688.0K – $917.3K
NOI $55,037 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30103, GA
15,606
Population
5,726
Households
2.7
Avg Household Size
38
Median Age
21%
College-Educated
91%
High-School Grad
103.9 sq mi
ZIP Area
150
Density / Sq Mi
$76,055
Median Household Income
$45,059
Median Earnings
$1,025
Median Rent
$228,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Metal commercial building with office, storage, parking, and access near Hwy 41 and I-75.
Where is this flex space located?
The property is located at 24 Hardwood Ridge Parkway Adairsville, GA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 2,800‑square‑foot flex building on 0.65 acres; Three bay doors and 12‑foot ceilings; Approximately 200 square feet of office/reception space
