Four-Unit Freestanding Office
For Sale
$699,000
245 W Moreno Street, Buford, GA 30518
COMMERCIAL - Buford, GA
Property Size2,400 SF
Lot Size0.23 Acres
Price / SF$291.25
Days on Market713
Property Features for 245 W Moreno Street
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
15
Parking features
Parking Lot
Fencing
Chain Link
Lot features
City Lot
Directions
Lee Street and Moreno, Right behind the Buford Grill
Standard status
Active
APN
R7294D134
Size
2,400 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
2290
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1983
Building materials
Vinyl Siding
Listing Agency:
Heartland Real Estate
(470) 655-1976
Listed By:
Cinthia Bohall · License #358389
(678) 250-5848
Added: Aug 29, 2024
Changed: Aug 4
Last Checked: Aug 11 at 4:06AM
MLS# 10367991
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.
Freestanding multi-unit office building in Downtown Buford on W Moreno Street. The building totals 2,400 square feet on a 0.23-acre lot and was built in 1983 with vinyl siding. There are four units, and each has independent entrances plus an electric meter and HVAC. The downstairs units A and D have been combined and used as a single unit, but they could be closed or converted back to two separate units. Central heating and central air serve the building, and it includes an on-site parking lot and chain link fencing. Utilities include public water and public sewer, and cable is available.
The property is located behind the Buford Grill, one street south of Main Street, and within walking distance to Rico’s World Kitchen and Main Street Blooms. The City of Buford has approved the construction of a sidewalk on West Moreno Street; please consult the City of Buford for more details.
Two units are currently leased: Unit C is leased to a Used Auto Broker, and Unit B is leased to a Renovations Company.
The property is located behind the Buford Grill, one street south of Main Street, and within walking distance to Rico’s World Kitchen and Main Street Blooms. The City of Buford has approved the construction of a sidewalk on West Moreno Street; please consult the City of Buford for more details.
Two units are currently leased: Unit C is leased to a Used Auto Broker, and Unit B is leased to a Renovations Company.
Key Highlights
- 0.23‑acre lot with 2,400 SF freestanding four‑unit office building built in 1983
- Four units with independent entrances, electric meter, and HVAC
- Downstairs units A and D combined, but can be closed/converted back into two separate units
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
$32,139
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
4.60%
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%
$642,780
$642.8K
Cap Rate 7%
$459,129
$459.1K
Cap Rate 9%
$357,100
$357.1K
Market Conditions
NOI Build-Up for 2,400 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
$57.3K $23.87/SF
− Vacancy
−$14.4K −$6.02/SF
EGI
$42.9K $17.85/SF
− OpEx
−$10.7K −$4.46/SF
NOI
$32.1K $13.39/SF
Area
Gwinnett 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%
$642,780
Cap Rate 7%
$459,129
Cap Rate 9%
$357,100
Alternative Uses
Best Use
Office B
$459.1K
$401.7K – $535.7K
NOI $32,139 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$670.9K
$587.0K – $782.7K
NOI $46,962 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
Explore this area
Business Placement
Demographics for 30518, GA
56,149
Population
19,435
Households
2.9
Avg Household Size
36
Median Age
40%
College-Educated
88%
High-School Grad
40.0 sq mi
ZIP Area
1,404
Density / Sq Mi
$97,339
Median Household Income
$46,683
Median Earnings
$1,611
Median Rent
$367,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Freestanding four-unit office building with independent entrances, central HVAC, and on-site parking lot.
Where is this office units located?
The property is located at 245 W Moreno Street Buford, GA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 0.23‑acre lot with 2,400 SF freestanding four‑unit office building built in 1983; Four units with independent entrances, electric meter, and HVAC; Downstairs units A and D combined, but can be closed/converted back into two separate units
