Medical Office Building with Private
For Sale
$695,000
104 Harwell Avenue, Lagrange, GA 30240
COMMERCIAL - Lagrange, GA
Property Size3,575 SF
Lot Size0.77 Acres
Price / SF$194.41
Days on Market122
Property Features for 104 Harwell Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
15
Parking features
Parking Lot
Security features
Security
Lot features
City Lot, Level
Directions
GPS friendly
Standard status
Active
APN
0614A023005
Size
3,575 SF
Lot size
0.77 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
6506
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Zoned
Cooling system
Zoned
Water source
Public
Amenities
large waiting area
executive manager's suite
meeting room
conference room
call center room with built-in computer workstation
private entrance
public entrance
abundant natural light
built-ins
granite
tile
kitchen
coffee station
high-speed wireless internet
6-zone HVAC system with remote smartphone control
Building Details
Year built
1973
Flooring type
Vinyl, Tile, Carpet, Hardwood
Building materials
Brick, Glass
Roof type
Composition
Listing Agency:
Go Realty
(706) 884-3882
Listed By:
Angela L Cotton-Jones · License #248069
(706) 957-1699
Added: Apr 13
Changed: Aug 4
Last Checked: Aug 12 at 1:06AM
MLS# 10731402
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.
This commercial office property offers a flexible layout with 24 total rooms and 12 private offices. The interior includes a large welcoming waiting area, an executive manager’s suite, a dedicated meeting room and a large conference room, and a call-center room with a built-in computer workstation. With 6.5 bathrooms, the space supports both staff and client convenience.
The building features abundant natural light, built-ins, granite, and tile. Flooring includes hardwood, vinyl, carpet, and tile, with a brick and glass exterior and a composition roof. A zoned heating and zoned cooling setup is complemented by a 6-zone HVAC system with remote smartphone control, and high-speed wireless internet is included. The kitchen includes a refrigerator, sink, dishwasher, and a coffee station.
Access includes a private entrance and a front public entrance, with parking available via front and side parking lots. Utilities include public water and public sewer, with cable available. Built in 1973, the property sits on a 0.77-acre lot.
The building features abundant natural light, built-ins, granite, and tile. Flooring includes hardwood, vinyl, carpet, and tile, with a brick and glass exterior and a composition roof. A zoned heating and zoned cooling setup is complemented by a 6-zone HVAC system with remote smartphone control, and high-speed wireless internet is included. The kitchen includes a refrigerator, sink, dishwasher, and a coffee station.
Access includes a private entrance and a front public entrance, with parking available via front and side parking lots. Utilities include public water and public sewer, with cable available. Built in 1973, the property sits on a 0.77-acre lot.
Key Highlights
- 24 total rooms with 12 private offices plus large waiting area
- 6.5 bathrooms, including meeting and conference spaces for client‑facing operations
- Private entrance and front public entrance with front and side parking lots
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
$41,995
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
6.04%
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%
$839,900
$839.9K
Cap Rate 7%
$599,929
$599.9K
Cap Rate 9%
$466,611
$466.6K
Market Conditions
NOI Build-Up for 3,575 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
$75.5K $21.12/SF
− Vacancy
−$5.5K −$1.54/SF
EGI
$70.0K $19.58/SF
− OpEx
−$28.0K −$7.83/SF
NOI
$42.0K $11.75/SF
Area
Troup County, GA
Vacancy
7.30%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
40.00%
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%
$839,900
Cap Rate 7%
$599,929
Cap Rate 9%
$466,611
Alternative Uses
Best Use
Healthcare Medical
$599.9K
$524.9K – $699.9K
NOI $41,995 @ 7.0% cap · market cap 6.04%
Second Best
Office B
$597.2K
$522.6K – $696.8K
NOI $41,805 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$799.9K
$699.9K – $933.2K
NOI $55,994 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
976
Businesses Nearby
Explore this area
Business Placement
Demographics for 30240, GA
30,119
Population
12,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
139.6 sq mi
ZIP Area
216
Density / Sq Mi
$59,521
Median Household Income
$40,611
Median Earnings
$1,035
Median Rent
$221,800
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?
Office building - Professional office building with 12 private offices, 24 rooms, large waiting area, and private entrance plus ample parking.
Where is this office building located?
The property is located at 104 Harwell Avenue Lagrange, GA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 24 total rooms with 12 private offices plus large waiting area; 6.5 bathrooms, including meeting and conference spaces for client‑facing operations; Private entrance and front public entrance with front and side parking lots
