End-Unit Office
For Sale
$440,000
245 River Park N Drive, Woodstock, GA 30188
Commercial Sale, Woodstock, GA
Property Size2,298 SF
Lot Size0.04 Acres
Price / SF$191.47
Days on Market319
Property Features for 245 River Park N Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Corner Lot
Directions
575N TO EXIT 11, SIXES ROAD, TURN RIGHT ON SIXES, TURN LEFT ON HWY 5, TURN RIGHT INTO RIVER PARK. TAKE A FIRST RIGHT (Fire Station on corner).
Standard status
Active
APN
15N16G 025C29
Size
2,298 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
2460
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
full lap swimming pool
six newly refurbished tennis courts
two basketball courts
recreation area
clubhouse
Building Details
Year built
2020
Building materials
Brick
Listing Agency:
Chapman Hall Premier, Realtors
(770) 454-7840
Listed By:
Sonal Herring
(404) 406-9077
Added: Nov 5, 2025
Changed: Sep 9
Last Checked: Sep 20 at 12:06AM
MLS# 10723192
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.
Investment Insights
Based on property information with market context.
This office property combines the adjoining suites at 245 and 247 River Park North Drive into a 2,298-square-foot end-unit configuration. Built in 2020, the space has high ceilings, fresh paint, new flooring, and a neutral finish scheme. Brick construction, central heating, central air, public water, public sewer, and natural gas availability support the existing commercial setup.
The property is near I-575 at Exit 11 and Sixes Road, with Downtown Woodstock located less than four miles away. Ownership includes access to community amenities such as a lap pool, six refurbished tennis courts, two basketball courts, a recreation area, and a clubhouse. Exterior maintenance, landscaping, water, and garbage services are also included through the property’s association arrangement.
The property is near I-575 at Exit 11 and Sixes Road, with Downtown Woodstock located less than four miles away. Ownership includes access to community amenities such as a lap pool, six refurbished tennis courts, two basketball courts, a recreation area, and a clubhouse. Exterior maintenance, landscaping, water, and garbage services are also included through the property’s association arrangement.
Key Highlights
- 2,298‑square‑foot office property combining adjoining units 245 and 247
- End‑unit configuration with high ceilings, new flooring, and fresh paint
- Built in 2020 with brick construction
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
$30,773
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
6.99%
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%
$615,460
$615.5K
Cap Rate 7%
$439,614
$439.6K
Cap Rate 9%
$341,922
$341.9K
Market Conditions
NOI Build-Up for 2,298 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
$54.9K $23.87/SF
− Vacancy
−$13.8K −$6.02/SF
EGI
$41.0K $17.85/SF
− OpEx
−$10.3K −$4.46/SF
NOI
$30.8K $13.39/SF
Area
Cherokee County, GA
Vacancy
25.20%
Lease Rate
$23.87 /SF/Yr
Expense Ratio
25.00%
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%
$615,460
Cap Rate 7%
$439,614
Cap Rate 9%
$341,922
Alternative Uses
Best Use
Office B
$439.6K
$384.7K – $512.9K
NOI $30,773 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.3K
$564.6K – $752.8K
NOI $45,169 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 30188, GA
67,972
Population
26,759
Households
2.5
Avg Household Size
40
Median Age
47%
College-Educated
95%
High-School Grad
43.7 sq mi
ZIP Area
1,555
Density / Sq Mi
$105,395
Median Household Income
$55,281
Median Earnings
$1,736
Median Rent
$389,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Flexible professional space with high ceilings, updated finishes, and access to extensive recreational amenities.
Where is this office units located?
The property is located at 245 River Park N Drive Woodstock, GA.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: 2,298‑square‑foot office property combining adjoining units 245 and 247; End‑unit configuration with high ceilings, new flooring, and fresh paint; Built in 2020 with brick construction
