Flex Space with
For Sale
$429,900
101-b W Main Street, Hogansville, GA 30230
Versatile commercial building with warehouse capacity, office improvements, roll-up access, and a finished upper-level living area.
Property Size5,346 SF
Price / SF$80.42
Days on Market341
Property Features for 101-b W Main Street
General Information
Standard status
Active
Size
5,346 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,954
Amenities
3
Hardwood, Concrete, Other
Composition
Parking.
Other Parking.
5227.2001953125
In City, Paved Road.
Building Details
Year Built
1920
Listing Agency:
BHHS Georgia Properties
(404) 697-9817
Listed By:
Malinda Shelley · License #232585
(404) 697-9817
Source:
Xome
Added: Sep 25, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:34PM
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 BHHS Georgia Properties
Investment Insights
Based on property information with market context.
This 5,346-square-foot flex property combines a substantial warehouse with a 1,134-square-foot office and loft area. The main level has 16-foot ceilings, original 1920 structural steel trolley beams, three roll-up doors, 220V and 110V electrical service, a commercial wet sink, dishwasher, and half bath. A glass personnel entrance and extensive wall outlets add functional support for varied operations.
The upper level includes a living room, full kitchen with stainless steel appliances and granite countertops, media room with surround sound and a 120-inch theater screen, bedroom, laundry area, and bathroom with an oversized tiled shower. Central heating and air conditioning serve the loft, which also features bamboo flooring in the bedroom and media room. Located on Main Street in Hogansville’s historic district, the building is approximately 2 miles from Interstate 85 and less than 45 minutes from downtown Atlanta.
The upper level includes a living room, full kitchen with stainless steel appliances and granite countertops, media room with surround sound and a 120-inch theater screen, bedroom, laundry area, and bathroom with an oversized tiled shower. Central heating and air conditioning serve the loft, which also features bamboo flooring in the bedroom and media room. Located on Main Street in Hogansville’s historic district, the building is approximately 2 miles from Interstate 85 and less than 45 minutes from downtown Atlanta.
Key Highlights
- 5,346 SF flex building with a 1,134 SF office/loft area
- 16 ft. ceiling height with original 1920 structural steel trolley beams
- Three roll‑up doors, including two at 12'2" H x 10'5" W and one at 13'4" H x 10'5" W
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
$28,959
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
6.74%
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%
$579,180
$579.2K
Cap Rate 7%
$413,700
$413.7K
Cap Rate 9%
$321,767
$321.8K
Market Conditions
NOI Build-Up for 5,346 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
$36.7K $6.86/SF
− Vacancy
−$2.6K −$0.49/SF
EGI
$34.1K $6.37/SF
− OpEx
−$5.1K −$0.96/SF
NOI
$29.0K $5.42/SF
Area
Troup County, GA
Vacancy
7.10%
Lease Rate
$6.86 /SF/Yr
Expense Ratio
15.00%
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%
$579,180
Cap Rate 7%
$413,700
Cap Rate 9%
$321,767
Alternative Uses
Best Use
Warehouse
$413.7K
$362.0K – $482.7K
NOI $28,959 @ 7.0% cap · market cap 6.74%
Second Best
Industrial
$340.7K
$298.1K – $397.5K
NOI $23,849 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,732 @ 7.0% cap · market cap 19.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30230, GA
9,145
Population
3,971
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
85%
High-School Grad
139.7 sq mi
ZIP Area
65
Density / Sq Mi
$57,835
Median Household Income
$31,525
Median Earnings
$1,127
Median Rent
$170,200
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?
Flex space - Versatile commercial building with warehouse capacity, office improvements, roll-up access, and a finished upper-level living area.
Where is this flex space located?
The property is located at 101-b W Main Street Hogansville, GA.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 5,346 SF flex building with a 1,134 SF office/loft area; 16 ft. ceiling height with original 1920 structural steel trolley beams; Three roll‑up doors, including two at 12'2" H x 10'5" W and one at 13'4" H x 10'5" W
