Two-Building Downtown Retail
For Sale
$2,100,000
10 Broad Street, Newnan, GA 30263
Two adjoining brick storefront buildings total 10,384 SF and feature open interiors with high ceilings.
Property Size10,384 SF
Price / SF$202.23
Days on Market531
Property Features for 10 Broad Street
General Information
Standard status
Active
Size
10,384 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$5,937
Amenities
Central Air
3
Other
Parking. Corner Lot.
Other Parking, On Street.
8276.400390625
Corner, State Road, County Road.
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Ansley RE
(404) 264-9000
Listed By:
Comer Jennings · License #165488
(404) 264-9000
Source:
Xome
Added: Feb 27, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ansley RE
Investment Insights
Based on property information with market context.
This for-sale offering features a classic 1950 brick storefront row comprising two adjoining buildings. The property totals 10,384 SF across two addresses, 10 and 12/14 E Broad St and 16 E Broad St. Current layouts include high ceilings and open floor plans designed to support a variety of future retail or office re-tenanting concepts.
The buildings are located in the heart of downtown Newnan, within walking distance to the Federal Courthouse, Post Office, and Justice Center, as well as the landmark Coweta County Courthouse. Public parking is available along Broad and nearby side streets and city lots.
Leasing is in place with diversified tenancy. The 10/12/14 E Broad building (6,608 SF) is leased to a framing shop, janitorial company, and law firm. The 16 E Broad building (3,776 SF) is leased to a bank.
The buildings are located in the heart of downtown Newnan, within walking distance to the Federal Courthouse, Post Office, and Justice Center, as well as the landmark Coweta County Courthouse. Public parking is available along Broad and nearby side streets and city lots.
Leasing is in place with diversified tenancy. The 10/12/14 E Broad building (6,608 SF) is leased to a framing shop, janitorial company, and law firm. The 16 E Broad building (3,776 SF) is leased to a bank.
Key Highlights
- Two adjoining brick storefront buildings on E Broad St totaling 10,384 SF across parcels N01 0008 008 and N01 0008 009
- Leased space includes 10/12/14 E Broad (6,608 SF) and 16 E Broad (3,776 SF)
- Current tenants include a framing shop, janitorial company, law firm, and a bank providing service retail and professional uses
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
$166,875
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
7.95%
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%
$3,337,500
$3.3M
Cap Rate 7%
$2,383,929
$2.4M
Cap Rate 9%
$1,854,167
$1.9M
Market Conditions
NOI Build-Up for 10,384 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
$239.2K $23.04/SF
− Vacancy
−$16.7K −$1.61/SF
EGI
$222.5K $21.43/SF
− OpEx
−$55.6K −$5.36/SF
NOI
$166.9K $16.07/SF
Area
Coweta County, GA
Vacancy
7.00%
Lease Rate
$23.04 /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%
$3,337,500
Cap Rate 7%
$2,383,929
Cap Rate 9%
$1,854,167
Alternative Uses
Best Use
Specialty Retail
$2.38M
$2.09M – $2.78M
NOI $166,875 @ 7.0% cap · market cap 7.95%
Second Best
Retail
$2.09M
$1.83M – $2.43M
NOI $146,055 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$2.90M
$2.54M – $3.39M
NOI $203,191 @ 7.0% cap · market cap 9.68%
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
1,219
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30263, GA
60,467
Population
23,792
Households
2.5
Avg Household Size
38
Median Age
31%
College-Educated
89%
High-School Grad
198.2 sq mi
ZIP Area
305
Density / Sq Mi
$79,752
Median Household Income
$44,508
Median Earnings
$1,332
Median Rent
$278,200
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?
Storefront property - Two adjoining brick storefront buildings total 10,384 SF and feature open interiors with high ceilings.
Where is this storefront property located?
The property is located at 10 Broad Street Newnan, GA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Two adjoining brick storefront buildings on E Broad St totaling 10,384 SF across parcels N01 0008 008 and N01 0008 009; Leased space includes 10/12/14 E Broad (6,608 SF) and 16 E Broad (3,776 SF); Current tenants include a framing shop, janitorial company, law firm, and a bank providing service retail and professional uses
