Two-Building Office
For Sale
$689,000
838 New Franklin Road, Lagrange, GA 30240
COMMERCIAL - Lagrange, GA
Property Size4,900 SF
Lot Size0.69 Acres
Price / SF$140.61
Days on Market173
Property Features for 838 New Franklin Road
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Parking Lot
Lot features
Corner Lot, Level
Directions
NEW FRANKLIN ROAD/HWY 27 N FROM LAGRANGE. PROPERTY ON THE RIGHT ON THE CORNER OF NEW FRANKLIN ROAD/HWY 27 AND S PAGE STREET.
Standard status
Active
APN
0493C000061
Size
4,900 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7400
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2005
Flooring type
Concrete, Carpet, Vinyl
Building materials
Aluminum Siding, Block, Brick, Concrete, Frame, Glass, Stucco
Roof type
Metal
Listing Agency:
Daniel Realty & Insurance Agency
(706) 882-1848
Listed By:
David A Lock
(706) 885-2428
Added: Feb 20
Changed: Aug 4
Last Checked: Aug 12 at 2:06AM
MLS# 10695171
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 two-building office property is positioned on a highly visible corner lot and offers flexible space for office or retail use. The main building includes three suites with well-maintained interiors and expansive storefront windows designed to bring in natural light. A second building provides additional space that can function as office or retail.
The property sits on a 0.686-acre lot with a total property size of 4,900 square feet. On-site parking is provided via a parking lot. Construction materials include aluminum siding, brick, concrete, frame, glass, block, and stucco. The roof is metal.
For utilities, water is available through public sources, with public sewer service. Heating is central electric, with central air electric cooling. The buildings were constructed in 2005.
The property sits on a 0.686-acre lot with a total property size of 4,900 square feet. On-site parking is provided via a parking lot. Construction materials include aluminum siding, brick, concrete, frame, glass, block, and stucco. The roof is metal.
For utilities, water is available through public sources, with public sewer service. Heating is central electric, with central air electric cooling. The buildings were constructed in 2005.
Key Highlights
- Two separate buildings on a highly visible corner lot
- Main building has three suites with expansive storefront windows
- Second building offers additional office or retail space
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
$59,685
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
8.66%
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%
$1,193,700
$1.2M
Cap Rate 7%
$852,643
$852.6K
Cap Rate 9%
$663,167
$663.2K
Market Conditions
NOI Build-Up for 4,900 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
$89.4K $18.24/SF
− Vacancy
−$4.1K −$0.84/SF
EGI
$85.3K $17.40/SF
− OpEx
−$25.6K −$5.22/SF
NOI
$59.7K $12.18/SF
Area
Troup County, GA
Vacancy
4.60%
Lease Rate
$18.24 /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%
$1,193,700
Cap Rate 7%
$852,643
Cap Rate 9%
$663,167
Alternative Uses
Best Use
Retail
$852.6K
$746.1K – $994.8K
NOI $59,685 @ 7.0% cap · market cap 8.66%
Second Best
Office B
$818.6K
$716.2K – $955.0K
NOI $57,299 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$1.10M
$959.3K – $1.28M
NOI $76,747 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,311
Businesses Nearby
Explore this area
Business Placement
Demographics for 30240, GA
30,119
Population
12,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
139.6 sq mi
ZIP Area
216
Density / Sq Mi
$59,521
Median Household Income
$40,611
Median Earnings
$1,035
Median Rent
$221,800
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 - Dual buildings on a highly visible corner lot with three suites in the main building and parking lot onsite.
Where is this office units located?
The property is located at 838 New Franklin Road Lagrange, GA.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Two separate buildings on a highly visible corner lot; Main building has three suites with expansive storefront windows; Second building offers additional office or retail space
