Four-Unit Freestanding Office
For Sale
$699,000
245 W Moreno Street, Buford, GA 30518
Commercial Sale, Buford, GA
Property Size2,400 SF
Lot Size0.23 Acres
Price / SF$291.25
Days on Market738
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 19
Last Checked: Sep 5 at 6:06AM
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.
This 2,400-square-foot freestanding office building occupies 0.23 acres and includes four separately accessed units. Each unit has its own electric meter and HVAC, while the property also provides a dedicated parking lot. Units A and D are currently connected, although the layout can be returned to two distinct spaces. The building dates to 1983 and features vinyl siding, central heating, and central air conditioning.
Two units are leased: Unit B is occupied by a renovations company, and Unit C is occupied by a used auto broker. The property is in downtown Buford, one street south of Main Street, with frontage on W Moreno Street. The surrounding area includes a 256-space parking deck on Moreno Street, along with Meander Brewing and Tchin Tchin Coffee. The City of Buford has approved sidewalk construction on West Moreno Street; project details should be confirmed with the city.
Two units are leased: Unit B is occupied by a renovations company, and Unit C is occupied by a used auto broker. The property is in downtown Buford, one street south of Main Street, with frontage on W Moreno Street. The surrounding area includes a 256-space parking deck on Moreno Street, along with Meander Brewing and Tchin Tchin Coffee. The City of Buford has approved sidewalk construction on West Moreno Street; project details should be confirmed with the city.
Key Highlights
- 2,400‑square‑foot office building on 0.23 acres
- Four units with independent entrances, electric meters, and HVAC
- Units A and D are combined but can be separated into two spaces
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 building - Independent entrances, electric meters, and HVAC serve the building’s four office units.
Where is this office building 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: 2,400‑square‑foot office building on 0.23 acres; Four units with independent entrances, electric meters, and HVAC; Units A and D are combined but can be separated into two spaces
