Historic Downtown Flex
For Sale
$439,900
101-B W Main Street, Hogansville, GA 30230
Hogansville, GA
Property Size5,346 SF
Lot Size0.12 Acres
Price / SF$82.29
Days on Market332
Property Features for 101-B W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
5,346 SF
Lot size
0.12 Acres
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: Sep 13
Last Checked: Sep 13 at 11:06AM
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 combines a warehouse with a 1,134-square-foot office and loft area. The building offers 16-foot ceilings, three roll-up doors, 220V and 110V electrical service, a dedicated 30-amp outlet, and numerous wall outlets. A commercial wet sink, dishwasher, half bath, and upper-level booth support varied commercial configurations. The loft includes a living room, full kitchen with stainless steel appliances and granite countertops, media room, bedroom, laundry area, and full bathroom. Central heat and A/C serve the loft, which also features bamboo flooring in the bedroom and media room.
Positioned on Main Street within Hogansville’s historic district, the property places users in the downtown business area. Interstate 85 is approximately 2 miles away, providing northbound and southbound access, while downtown Atlanta is less than 45 minutes away. The building has also accommodated private events and previously housed storage for movie memorabilia, vehicles, and collectibles.
Positioned on Main Street within Hogansville’s historic district, the property places users in the downtown business area. Interstate 85 is approximately 2 miles away, providing northbound and southbound access, while downtown Atlanta is less than 45 minutes away. The building has also accommodated private events and previously housed storage for movie memorabilia, vehicles, and collectibles.
Key Highlights
- 5,346‑square‑foot flex building with a 1,134‑square‑foot office and loft area
- 16‑foot ceiling height with original 1920 structural steel trolley beams
- Three roll‑up doors: two measuring 12'2 H x 10'5 W and one measuring 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
Retail
$930.3K
$814.0K – $1.09M
NOI $65,118 @ 7.0% cap · market cap 14.80%
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
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Current Use
Lease Details
Yes
Highway 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with warehouse space, office loft, loading access, and extensive electrical service.
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‑foot flex building with a 1,134‑square‑foot office and loft area; 16‑foot ceiling height with original 1920 structural steel trolley beams; Three roll‑up doors: two measuring 12'2 H x 10'5 W and one measuring 13'4 H x 10'5 W
