Flex Space with Commercial
For Sale
$300,000
403 S Spencer Street, Dalton, GA 30721
Commercial Sale, DALTON, GA
Property Size2,501 SF
Lot Size0.11 Acres
Price / SF$119.95
Days on Market93
Property Features for 403 S Spencer Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
2-Dalton City-East
Standard status
Active
APN
12-238-19-016
Size
2,501 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1871
Building Details
Year built
1960
Floors in Building
1
Listing Agency:
Keller Williams Heritage · Keller Williams Realty
(706) 459-3107
Listed By:
Christian Rangel · License #405756
(706) 980-8531
Added: Jun 16
Changed: Aug 19
Last Checked: Sep 16 at 4:06AM
MLS# 135822
Copyright © 2026 Carpet Capital Association of REALTORS®. 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 flex-space property includes a 2,501-square-foot building on a 0.11-acre parcel. Constructed in 1960, the structure is positioned for several commercial applications identified in the listing, including retail, light industrial, office, and specialty service operations. The property is zoned C2 for general commercial use.
Located at 403 S Spencer Street in Dalton, the site provides access to the Walnut Avenue commercial corridor and Interstate 75. Its compact parcel and established building footprint offer a straightforward setting for an owner-user or commercial operation requiring a flexible existing facility.
Located at 403 S Spencer Street in Dalton, the site provides access to the Walnut Avenue commercial corridor and Interstate 75. Its compact parcel and established building footprint offer a straightforward setting for an owner-user or commercial operation requiring a flexible existing facility.
Key Highlights
- 2,501‑square‑foot building on a 0.11‑acre parcel
- C2 zoning for general commercial use
- Flex‑space configuration with retail, office, light industrial, and specialty service potential
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
$13,577
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
4.53%
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%
$271,540
$271.5K
Cap Rate 7%
$193,957
$194.0K
Cap Rate 9%
$150,856
$150.9K
Market Conditions
NOI Build-Up for 2,501 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
$22.5K $9.00/SF
− Vacancy
−$1.6K −$0.65/SF
EGI
$20.9K $8.35/SF
− OpEx
−$7.3K −$2.92/SF
NOI
$13.6K $5.43/SF
Area
Whitfield County, GA
Vacancy
7.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$271,540
Cap Rate 7%
$193,957
Cap Rate 9%
$150,856
Alternative Uses
Best Use
Flex RnD
$194.0K
$169.7K – $226.3K
NOI $13,577 @ 7.0% cap · market cap 4.53%
Second Best
Industrial
$142.3K
$124.5K – $166.0K
NOI $9,958 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$399.4K
$349.5K – $466.0K
NOI $27,957 @ 7.0% cap · market cap 9.32%
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,637
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30721, GA
53,432
Population
19,866
Households
2.7
Avg Household Size
34
Median Age
12%
College-Educated
70%
High-School Grad
126.8 sq mi
ZIP Area
421
Density / Sq Mi
$57,749
Median Household Income
$33,029
Median Earnings
$898
Median Rent
$172,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - C2 zoning and a versatile building layout accommodate general commercial, office, retail, and light industrial applications.
Where is this flex space located?
The property is located at 403 S Spencer Street Dalton, GA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 2,501‑square‑foot building on a 0.11‑acre parcel; C2 zoning for general commercial use; Flex‑space configuration with retail, office, light industrial, and specialty service potential
