Office Condominium with
For Sale
$675,000
3149 Atlanta Highway, Athens, GA 30606
Commercial Sale, Athens, GA
Property Size3,040 SF
Lot Size0.06 Acres
Price / SF$222.04
Days on Market120
Property Features for 3149 Atlanta Highway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C-G
Zoning description
Commercial
Appliances
Electric Water Heater, Refrigerator
Directions
From the GA 10 Loop, take US 78 Bus E for approximately 1 mile. Immediately past Panera, take a slight left onto Athens Town Way. Turn left and the property will be on your right.
Standard status
Active
APN
074 A029A & 074 A029B
Size
3,040 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
4800 372
Legal Description
4800 372
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
10-foot ceilings
wired speaker system
built-in reception desk
conference room with built-in granite table
dual chandeliers
pocket doors
Building Details
Year built
2005
Floors in Building
1
Building materials
Brick
Listing Agency:
NAI Elrod Group
(706) 553-1000
Listed By:
Brian Elrod · License #251606
(678) 859-6110
Added: Apr 23
Changed: Aug 19
Last Checked: Aug 20 at 10:06PM
MLS# CL354436
Copyright © 2026 Hive MLS. 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 condominium comprises Suites A and B with 3,040 square feet of interior space. The 2005 property includes three private offices, a conference room, a cubicle area, and a built-in reception desk. Ten-foot ceilings, a wired speaker system, central air, electric heat, and public water and sewer support the workspace. The conference room features a built-in granite table, two chandeliers, and pocket doors on both sides. Brick construction and included appliances complete the existing improvements.
The property is located at 3149 Atlanta Highway on the west side of Athens along US 29, where traffic exceeds 24,000 vehicles per day. It is near Atlanta Highway and Athens West Parkway, with the GA-10 Loop nearby and access from Oconee County. Walmart, Target, Carrabba's, Popeyes, Taco Bell, Regions Bank, Office Depot, and Enterprise are among the surrounding businesses. Downtown Athens and UGA are approximately five miles east.
The property is located at 3149 Atlanta Highway on the west side of Athens along US 29, where traffic exceeds 24,000 vehicles per day. It is near Atlanta Highway and Athens West Parkway, with the GA-10 Loop nearby and access from Oconee County. Walmart, Target, Carrabba's, Popeyes, Taco Bell, Regions Bank, Office Depot, and Enterprise are among the surrounding businesses. Downtown Athens and UGA are approximately five miles east.
Key Highlights
- 3,040 SF across Suites A and B in an office condominium
- Three private offices, conference room, cubicle area, and built‑in reception desk
- Ten‑foot ceilings and wired speaker system throughout the office
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
$39,349
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
5.83%
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%
$786,980
$787.0K
Cap Rate 7%
$562,129
$562.1K
Cap Rate 9%
$437,211
$437.2K
Market Conditions
NOI Build-Up for 3,040 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
$65.7K $21.60/SF
− Vacancy
−$13.2K −$4.34/SF
EGI
$52.5K $17.26/SF
− OpEx
−$13.1K −$4.31/SF
NOI
$39.3K $12.94/SF
Area
Athens, GA
Vacancy
20.10%
Lease Rate
$21.60 /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%
$786,980
Cap Rate 7%
$562,129
Cap Rate 9%
$437,211
Alternative Uses
Best Use
Office B
$562.1K
$491.9K – $655.8K
NOI $39,349 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$732.9K
$641.3K – $855.0K
NOI $51,300 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10 ft
Clear height
2
Office units
24,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 30606, GA
46,798
Population
22,603
Households
2.1
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
30.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$61,397
Median Household Income
$35,854
Median Earnings
$1,222
Median Rent
$332,600
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 - Configured with private offices, conference space, and a dedicated cubicle area.
Where is this office units located?
The property is located at 3149 Atlanta Highway Athens, GA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 3,040 SF across Suites A and B in an office condominium; Three private offices, conference room, cubicle area, and built‑in reception desk; Ten‑foot ceilings and wired speaker system throughout the office
