Renovated Former Bank
For Sale
$795,000
1111 Bankhead Hwy, Carrollton, GA 30117
Former bank building renovated in 2010, fully furnished, with bank vault and drive-thru configuration.
Property Size4,695 SF
Lot Size0.58 Acres
Price / SF$169.33
Days on Market124
Property Features for 1111 Bankhead Hwy
General Information
Standard status
Active
Size
4,695 SF
Lot size
0.58 Acres
Additional Details
Furnished
Yes
Building Details
Year Renovated
2010
Listing Agency:
Georgia West Realty Inc
(770) 830-1100
Listed By:
Tony Dermo Jr. · License #321371
(770) 570-8109
Source:
Exprealty
Added: May 6
Changed: Aug 25
Last Checked: Sep 5 at 12:19PM
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 Georgia West Realty Inc
Investment Insights
Based on property information with market context.
A high-visibility, high-traffic office/retail building for sale, this 4,695+/- square foot former bank building was renovated in 2010 for office use. The property is being offered fully furnished and includes the original bank vault. A former three-bay drive-thru is also present and can be reopened, adding flexibility to the existing layout.
The building sits on a 0.58+/- acre outparcel to Lake Carroll Mall at a signalized intersection, supporting visibility and straightforward customer access. Additional land is available for sale upon request.
With its versatile configuration and existing improvements, the building is positioned for a range of commercial uses, including office, retail, medical, financial, or service-oriented operations.
The building sits on a 0.58+/- acre outparcel to Lake Carroll Mall at a signalized intersection, supporting visibility and straightforward customer access. Additional land is available for sale upon request.
With its versatile configuration and existing improvements, the building is positioned for a range of commercial uses, including office, retail, medical, financial, or service-oriented operations.
Key Highlights
- Former bank building built in 1978 with 4,695+/- SF on a 0.58+/- acre outparcel at Lake Carroll Mall
- Renovated in 2010 for office use and offered fully furnished
- Includes the original bank vault
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
$66,037
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
8.31%
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%
$1,320,740
$1.3M
Cap Rate 7%
$943,386
$943.4K
Cap Rate 9%
$733,744
$733.7K
Market Conditions
NOI Build-Up for 4,695 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
$103.1K $21.96/SF
− Vacancy
−$8.8K −$1.87/SF
EGI
$94.3K $20.09/SF
− OpEx
−$28.3K −$6.03/SF
NOI
$66.0K $14.07/SF
Area
Carroll County, GA
Vacancy
8.50%
Lease Rate
$21.96 /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%
$1,320,740
Cap Rate 7%
$943,386
Cap Rate 9%
$733,744
Alternative Uses
Best Use
Retail
$943.4K
$825.5K – $1.10M
NOI $66,037 @ 7.0% cap · market cap 8.31%
Second Best
Office B
$898.2K
$785.9K – $1.05M
NOI $62,871 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,870 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 30117, GA
37,644
Population
15,313
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
85%
High-School Grad
108.1 sq mi
ZIP Area
348
Density / Sq Mi
$58,463
Median Household Income
$31,273
Median Earnings
$1,066
Median Rent
$239,600
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 - Former bank building renovated in 2010, fully furnished, with bank vault and drive-thru configuration.
Where is this office building located?
The property is located at 1111 Bankhead Hwy Carrollton, GA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Former bank building built in 1978 with 4,695+/- SF on a 0.58+/- acre outparcel at Lake Carroll Mall; Renovated in 2010 for office use and offered fully furnished; Includes the original bank vault
