Multi-Unit Flex
For Sale
Contact for pricing
1001 Old Alexander Dr, Augusta, GA 30909
Four-unit configuration combines office and flex space within an LI-zoned commercial property.
Property Size6,230 SF
Price / SF$86.44
Days on Market151
Property Features for 1001 Old Alexander Dr
General Information
Standard status
Active
Size
6,230 SF
Net Rentable
6,230 SF
Class
B
Property subtype
Industrial, Mixed Use, Office, Retail
Zoning
LI
Occupancy
85%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$35,823
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
4
Building Details
Year Built
1961
Year Renovated
2025
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Building Size
6,230 SF
Listing Agency:
Beman Group RE
(706) 823-6740
Listed By:
Davis Beman · License #GA
Source:
Crexi
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 29 at 3:57PM
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 Beman Group RE
Investment Insights
Based on property information with market context.
This 6,230-square-foot flex property is configured as four separate units, with office and flex space supporting a multi-tenant arrangement. The building dates to 1961 and is located at 1001 Old Alexander Dr in Augusta, Georgia. Three tenants currently occupy the property, including a subtenant associated with the front-facing business.
The site sits near Riverwatch Parkway, with access to Riverwatch Parkway and Washington Road. Interstate 20 is also readily accessible, connecting the property with the broader Augusta area. LI zoning and the existing four-unit layout provide a defined commercial framework for office and flex occupancy.
The site sits near Riverwatch Parkway, with access to Riverwatch Parkway and Washington Road. Interstate 20 is also readily accessible, connecting the property with the broader Augusta area. LI zoning and the existing four-unit layout provide a defined commercial framework for office and flex occupancy.
Key Highlights
- 6,230 rentable square feet arranged across 4 units
- LI zoning supports the existing commercial flex configuration
- Three current tenants, including a subtenant tied to the front‑facing business
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
$39,222
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
7.28%
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%
$784,440
$784.4K
Cap Rate 7%
$560,314
$560.3K
Cap Rate 9%
$435,800
$435.8K
Market Conditions
NOI Build-Up for 6,230 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
$61.3K $9.84/SF
− Vacancy
−$5.3K −$0.85/SF
EGI
$56.0K $8.99/SF
− OpEx
−$16.8K −$2.70/SF
NOI
$39.2K $6.30/SF
Area
Augusta, GA
Vacancy
8.60%
Lease Rate
$9.84 /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%
$784,440
Cap Rate 7%
$560,314
Cap Rate 9%
$435,800
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.59M
NOI $95,319 @ 7.0% cap · market cap 17.70%
Second Best
Flex RnD
$758.1K
$663.3K – $884.4K
NOI $53,065 @ 7.0% cap · market cap 9.85%
Theoretical Best
Office A
$1.97M
$1.72M – $2.29M
NOI $137,651 @ 7.0% cap · market cap 25.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30909, GA
48,181
Population
24,005
Households
2
Avg Household Size
35
Median Age
40%
College-Educated
93%
High-School Grad
25.5 sq mi
ZIP Area
1,889
Density / Sq Mi
$67,710
Median Household Income
$41,812
Median Earnings
$1,196
Median Rent
$237,600
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?
Flex space - Four-unit configuration combines office and flex space within an LI-zoned commercial property.
Where is this flex space located?
The property is located at 1001 Old Alexander Dr Augusta, GA.
What is the asking price?
The asking price for this property is $538,500.
What are key features of this property?
This property features: 6,230 rentable square feet arranged across 4 units; LI zoning supports the existing commercial flex configuration; Three current tenants, including a subtenant tied to the front‑facing business
