Flex Space with
For Sale
$845,000
3336 N Expressway, Griffin, GA 30223
Commercial Sale, Griffin, GA
Property Size6,900 SF
Lot Size2.41 Acres
Price / SF$122.46
Days on Market178
Property Features for 3336 N Expressway
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
Level
Directions
FROM TAYLOR STREET GOING WEST /HWY 16 MAKE A RIGHT ONTO N. EXPRESSWAY.
Standard status
Active
APN
242D03034
Size
6,900 SF
Lot size
2.41 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
4017
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1973
Listing Agency:
Murray Company, Realtors
(770) 227-8661
Listed By:
Niles Murray · License #10924
(770) 468-2953
Added: Mar 10
Changed: Aug 19
Last Checked: Sep 3 at 4:06AM
MLS# 10707045
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 vacant flex property includes a 6,900-square-foot metal building completed in 1973, with a large showroom and separate shop area. Central heating and central air support the building, while paved parking provides on-site vehicle accommodation.
The property is located at 3336 N Expressway in Griffin, just north of Birdie Road. A median cut provides entry and exit access for traffic approaching from either direction. Public water is available, and the site is served by a septic tank.
The property is located at 3336 N Expressway in Griffin, just north of Birdie Road. A median cut provides entry and exit access for traffic approaching from either direction. Public water is available, and the site is served by a septic tank.
Key Highlights
- 6,900‑square‑foot metal building
- 2.41‑acre site at 3336 N Expressway, Griffin, GA 30223
- Large showroom and shop area
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
$50,652
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
5.99%
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%
$1,013,040
$1.0M
Cap Rate 7%
$723,600
$723.6K
Cap Rate 9%
$562,800
$562.8K
Market Conditions
NOI Build-Up for 6,900 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
$65.4K $9.48/SF
− Vacancy
−$5.8K −$0.84/SF
EGI
$59.6K $8.64/SF
− OpEx
−$8.9K −$1.30/SF
NOI
$50.7K $7.34/SF
Area
Spalding 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%
$1,013,040
Cap Rate 7%
$723,600
Cap Rate 9%
$562,800
Alternative Uses
Best Use
Retail
$1.39M
$1.21M – $1.62M
NOI $97,051 @ 7.0% cap · market cap 11.49%
Second Best
Warehouse
$723.6K
$633.2K – $844.2K
NOI $50,652 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,626 @ 7.0% cap · market cap 16.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30223, GA
38,111
Population
15,647
Households
2.4
Avg Household Size
41
Median Age
15%
College-Educated
84%
High-School Grad
108.0 sq mi
ZIP Area
353
Density / Sq Mi
$56,940
Median Household Income
$34,305
Median Earnings
$1,025
Median Rent
$186,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Vacant commercial building combining showroom and shop areas with paved parking and direct access from both travel directions.
Where is this flex space located?
The property is located at 3336 N Expressway Griffin, GA.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: 6,900‑square‑foot metal building; 2.41‑acre site at 3336 N Expressway, Griffin, GA 30223; Large showroom and shop area
