Updated Two-Unit
For Sale
$300,000
110/112 Loblolly Drive #110 112, Athens, GA 30601
Two-bedroom residences with one leased unit and a second unit available for occupancy near Downtown Athens.
Property Size1,848 SF
Days on Market15
Property Features for 110/112 Loblolly Drive #110 112
General Information
Standard status
Active
Size
1,848 SF
Property subtype
Multi Family Home
Zoning
R3
Occupancy
50%
Additional Details
Multifamily Units
2
Building Details
Building Size
1,848 SF
Year Built
1984
Buildings
1
Stories
1
Units
2
Listing Agency:
Broad & Main Real Estate Group
(706) 296-4610
Listed By:
Tonya Minish · License #400419
(706) 296-4610
Source:
Thomasrealtysold
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 31 at 5:11PM
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 Broad & Main Real Estate Group
Investment Insights
Based on property information with market context.
This two-unit residential property includes matching layouts with two bedrooms and one full bathroom in each residence. Built in 1984 and zoned R3, the duplex has undergone substantial improvements, including new flooring in one unit, updated paint, refreshed kitchen cabinetry and hardware, replacement fixtures, new outlets and vents, updated doors, blinds, thermostats, and lighting. Washer and dryer connections and electric fireplace inserts have also been added.
One residence is leased, while the other is vacant and ready for occupancy. The property is located approximately five minutes from Downtown Athens at 110/112 Loblolly Drive, offering a configuration that supports rental of both units or owner occupancy of one side with the other leased.
One residence is leased, while the other is vacant and ready for occupancy. The property is located approximately five minutes from Downtown Athens at 110/112 Loblolly Drive, offering a configuration that supports rental of both units or owner occupancy of one side with the other leased.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bath units
- One unit leased; the second unit is vacant
- R3 zoning supports the property’s residential configuration
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
$22,442
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
7.48%
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%
$448,840
$448.8K
Cap Rate 7%
$320,600
$320.6K
Cap Rate 9%
$249,356
$249.4K
Market Conditions
NOI Build-Up for 1,848 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
$33.9K $18.36/SF
− Vacancy
−$1.9K −$1.01/SF
EGI
$32.1K $17.35/SF
− OpEx
−$9.6K −$5.20/SF
NOI
$22.4K $12.14/SF
Area
Athens, GA
Vacancy
5.51%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
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%
$448,840
Cap Rate 7%
$320,600
Cap Rate 9%
$249,356
Alternative Uses
Best Use
Multifamily LT 5
$320.6K
$280.5K – $374.0K
NOI $22,442 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$295.4K
$258.5K – $344.7K
NOI $20,681 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$445.5K
$389.8K – $519.8K
NOI $31,185 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Explore this area
Business Placement
Demographics for 30601, GA
25,036
Population
11,634
Households
2.2
Avg Household Size
28
Median Age
37%
College-Educated
84%
High-School Grad
23.4 sq mi
ZIP Area
1,070
Density / Sq Mi
$37,357
Median Household Income
$24,639
Median Earnings
$1,198
Median Rent
$213,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom residences with one leased unit and a second unit available for occupancy near Downtown Athens.
Where is this duplex located?
The property is located at 110/112 Loblolly Drive #110 112 Athens, GA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Duplex with two 2‑bedroom, 1‑bath units; One unit leased; the second unit is vacant; R3 zoning supports the property’s residential configuration
