Retail Space with
For Sale
$1,950,000
4860 Atlanta Highway, Athens, GA 30606
Commercial Sale, Athens, GA
Property Size12,000 SF
Lot Size1.58 Acres
Price / SF$162.50
Days on Market21
Property Features for 4860 Atlanta Highway
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking
41
Interior features
High Ceilings
Appliances
Gas Water Heater
Directions
From GA Loop 10: Take Exit 18 for US 78 Bus/Atlanta Hwy (this exit is near Georgia Square Mall). Head west on Atlanta Highway (US 78 Bus). Continue west for approximately 2 miles. The property, 4860 Atlanta Highway, will be on your right.
Standard status
Active
APN
044A1 C026
Size
12,000 SF
Lot size
1.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
4828 514
Tax Annual Amount
17239
Legal Description
4828 514
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
covered front entry porch
fitting room
private offices
break room with kitchen
restrooms
LED lighting
gas heat
exhaust fan
Building Details
Year built
2005
Floors in Building
1
Building materials
Metal Siding, Steel
Listing Agency:
NAI Elrod Group
(706) 553-1000
Listed By:
Brian Elrod · License #251606
(678) 859-6110
Added: Jul 31
Changed: Aug 19
Last Checked: Aug 20 at 11:06PM
MLS# CL361680
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.
The property comprises 12,000 SF within a connected building on 1.58 acres. Its 9,120 SF retail section was constructed in 2005 and renovated in 2024, featuring a vaulted sales area, exposed trusses, 14' wall heights, a covered entry porch, fitting room, private offices, break room with kitchen cabinetry and appliances, and two restrooms. A directly connected 2,880 SF warehouse, built in 2006 and renovated in 2024, adds storage and receiving capacity, a mezzanine, 10' x 8' walk-in freezer, gas heat, exhaust fan, and insulated construction. Both areas use LED lighting.
Receiving is supported by two covered loading zones with 4 dock-high doors and 1 grade-level door measuring 13' tall by 9' wide. The site also includes a 41-space paved parking lot, and the building will be delivered vacant at closing. Located along Atlanta Highway in western Athens-Clarke County, the property is approximately one mile west of Sam's Club on a corridor carrying 31,000+ VPD.
Receiving is supported by two covered loading zones with 4 dock-high doors and 1 grade-level door measuring 13' tall by 9' wide. The site also includes a 41-space paved parking lot, and the building will be delivered vacant at closing. Located along Atlanta Highway in western Athens-Clarke County, the property is approximately one mile west of Sam's Club on a corridor carrying 31,000+ VPD.
Key Highlights
- 12,000 SF connected retail and warehouse building on a 1.58‑acre site
- 9,120 SF retail section renovated in 2024 with vaulted sales floor and 14' wall heights
- 2,880 SF warehouse renovated in 2024 with 12' clear height and 24'10" peak height
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
$135,626
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
6.96%
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%
$2,712,520
$2.7M
Cap Rate 7%
$1,937,514
$1.9M
Cap Rate 9%
$1,506,956
$1.5M
Market Conditions
NOI Build-Up for 12,000 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
$216.0K $18.00/SF
− Vacancy
−$22.2K −$1.85/SF
EGI
$193.8K $16.15/SF
− OpEx
−$58.1K −$4.84/SF
NOI
$135.6K $11.30/SF
Area
Athens, GA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,712,520
Cap Rate 7%
$1,937,514
Cap Rate 9%
$1,506,956
Alternative Uses
Best Use
Retail
$1.94M
$1.70M – $2.26M
NOI $135,626 @ 7.0% cap · market cap 6.96%
Second Best
Warehouse
$1.26M
$1.10M – $1.47M
NOI $88,090 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,499 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
4
Dock-high doors
1
Drive-in doors
31,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
135
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Connected retail and warehouse areas combine customer-facing space with dedicated receiving, storage, offices, and support amenities.
Where is this retail space located?
The property is located at 4860 Atlanta Highway Athens, GA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 12,000 SF connected retail and warehouse building on a 1.58‑acre site; 9,120 SF retail section renovated in 2024 with vaulted sales floor and 14' wall heights; 2,880 SF warehouse renovated in 2024 with 12' clear height and 24'10" peak height
