Historic Flex Building With
For Sale
$439,900
101-B W Main Street, Hogansville, GA 30230
Hogansville, GA
Property Size5,346 SF
Price / SF$82.29
Days on Market320
Property Features for 101-B W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
5,346 SF
Amenities
Full kitchen
Media room
Washer/dryer
Central HVAC
DJ booth
Building Details
Year built
1920
Listing Agency:
Fayetteville Office · Berkshire Hathaway HomeServices
(770) 719-9400
Listed By:
Malinda Shelley · License #232585
(404) 697-9817
Added: Oct 17, 2025
Changed: Aug 31
Last Checked: Sep 1 at 5:06AM
MLS# 10626664
Copyright © 2026 Berkshire Hathaway HomeServices Georgia Properties. 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 5,346-square-foot flex property includes a 1,134-square-foot office and loft component within a warehouse building constructed in 1920. The main area features 16-foot ceilings, original structural steel trolley beams, three roll-up doors, 220V and 110V electrical service, a commercial wet sink, dishwasher, half bath, and extensive wall outlets. A glass personnel entrance and upper-level DJ-style booth add further functionality.
The loft includes a living room, full kitchen with stainless steel appliances and granite countertops, media room, bedroom, laundry area, bathroom, built-in storage, and California Closet system. Central heat and air conditioning serve the loft, with bamboo flooring in the bedroom and media room. The property is located on Main Street in Hogansville’s historic district, approximately 2 miles from Interstate 85 and less than 45 minutes from downtown Atlanta. Prior uses have included storage, private events, retail-related activity, service operations, studio work, and event hosting.
The loft includes a living room, full kitchen with stainless steel appliances and granite countertops, media room, bedroom, laundry area, bathroom, built-in storage, and California Closet system. Central heat and air conditioning serve the loft, with bamboo flooring in the bedroom and media room. The property is located on Main Street in Hogansville’s historic district, approximately 2 miles from Interstate 85 and less than 45 minutes from downtown Atlanta. Prior uses have included storage, private events, retail-related activity, service operations, studio work, and event hosting.
Key Highlights
- 5,346 square feet, including a 1,134‑square‑foot office and loft area
- 16 ft. ceiling height with original 1920 structural steel trolley beams
- Three roll‑up doors: 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
6.58%
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
Office B
$893.1K
$781.4K – $1.04M
NOI $62,515 @ 7.0% cap · market cap 14.21%
Second Best
Warehouse
$413.7K
$362.0K – $482.7K
NOI $28,959 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,732 @ 7.0% cap · market cap 19.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
218
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial space combines warehouse functionality with office and loft areas in downtown Hogansville.
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 $439,900.
What are key features of this property?
This property features: 5,346 square feet, including a 1,134‑square‑foot office and loft area; 16 ft. ceiling height with original 1920 structural steel trolley beams; Three roll‑up doors: two at 12'2 H x 10'5 W and one at 13'4 H x 10'5 W
