Historic Office Building with
For Sale
$1,200,000
102 W Mimosa Drive, Jonesboro, GA 30236
COMMERCIAL - Jonesboro, GA
Property Size8,000 SF
Lot Size2.00 Acres
Price / SF$150
Days on Market101
Property Features for 102 W Mimosa Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
On Street
Fencing
Privacy
Lot features
Corner Lot
Directions
GPS
Standard status
Active
APN
13209D D001
Size
8,000 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
9280
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1840
Building materials
Brick
Listing Agency:
eXp Realty
(888) 959-9461
Listed By:
Jeffrey B Daniels
(404) 246-5850
Added: May 1
Changed: Aug 4
Last Checked: Aug 9 at 2:06AM
MLS# 10759684
Copyright © 2026 Georgia Multiple Listing Service. 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.
The Warren House is a historic brick office-building estate built in 1840, offering approximately 2 acres and about 4,710 square feet of interior space. The property features five bedrooms, 3.5 bathrooms, and nine original fireplaces, with expansive rooms highlighted by period detail. Outside, the grounds include a courtyard and historic coach houses, providing additional flexibility for office suites, creative workspaces, or event accommodations.
The Warren House is zoned for commercial office-industrial use. Heating is provided by electric and central systems, and cooling is central air. The property includes on-street parking and privacy fencing. Utilities include cable availability, with public water and public sewer connected.
The Warren House also reflects significant historic context from the American Civil War, when it served as a field hospital and headquarters for Confederate and Union forces, with physical reminders on site. Restoration efforts in 1936 uncovered names of Union soldiers, and the home is also noted for literary ties, including multiple visits by Margaret Mitchell in the 1930s.
The Warren House is zoned for commercial office-industrial use. Heating is provided by electric and central systems, and cooling is central air. The property includes on-street parking and privacy fencing. Utilities include cable availability, with public water and public sewer connected.
The Warren House also reflects significant historic context from the American Civil War, when it served as a field hospital and headquarters for Confederate and Union forces, with physical reminders on site. Restoration efforts in 1936 uncovered names of Union soldiers, and the home is also noted for literary ties, including multiple visits by Margaret Mitchell in the 1930s.
Key Highlights
- Built in 1840 brick office building estate
- Approximately 2 acres with about 4,710 SF interior space
- Courtyard plus historic coach houses for flexible space
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
$107,129
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
8.93%
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%
$2,142,580
$2.1M
Cap Rate 7%
$1,530,414
$1.5M
Cap Rate 9%
$1,190,322
$1.2M
Market Conditions
NOI Build-Up for 8,000 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
$191.0K $23.87/SF
− Vacancy
−$48.1K −$6.02/SF
EGI
$142.8K $17.85/SF
− OpEx
−$35.7K −$4.46/SF
NOI
$107.1K $13.39/SF
Area
Clayton County, GA
Vacancy
25.20%
Lease Rate
$23.87 /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%
$2,142,580
Cap Rate 7%
$1,530,414
Cap Rate 9%
$1,190,322
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.79M
NOI $107,129 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,541 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
Explore this area
Business Placement
Demographics for 30236, GA
50,446
Population
19,230
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
84%
High-School Grad
32.4 sq mi
ZIP Area
1,557
Density / Sq Mi
$68,867
Median Household Income
$36,501
Median Earnings
$1,233
Median Rent
$219,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Historic brick office building with courtyard and coach houses, zoned for commercial office-industrial use with public utilities.
Where is this office building located?
The property is located at 102 W Mimosa Drive Jonesboro, GA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Built in 1840 brick office building estate; Approximately 2 acres with about 4,710 SF interior space; Courtyard plus historic coach houses for flexible space
