Historic Two-Story Office
1143 College Avenue SE, Covington, GA 30014
For Sale
New
$850,000
Commercial Sale, Covington, GA
Property Size4,028 SF
Lot Size0.10 Acres
Price / SF$211.02
Days on Market2
Property Features for 1143 College Avenue SE
General Information
Property type
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Parking features
Lot features
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Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Building materials
Buildings
Listing Agency:
Virtual Realty
Listed By:
Jeff Vines · License GA #217208
(404) 425-3645
Added: Nov 9
Changed: Nov 10
Last Checked: Nov 10 at 9:06PM
MLS# 10887820
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.
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Investment Insights
Based on property information with market context.
This 4,028-square-foot office building dates to 1823 and sits on a 0.1-acre parcel. Its two-level layout includes private offices, a conference room, restrooms, and storage areas on each floor. Heart pine flooring is among the building’s original features. Frame construction with wood siding is served by central heating and air conditioning, with zoned cooling. Public water and sewer are available, along with cable service.
Parking options include an on-site lot and street parking. The property is located at 1143 College Avenue SE in Covington, Georgia.
Parking options include an on-site lot and street parking. The property is located at 1143 College Avenue SE in Covington, Georgia.
Key Highlights
- 4,028‑square‑foot office building on a 0.1‑acre parcel
- Built in 1823; original heart pine flooring remains
- Two levels with offices, conference rooms, restrooms, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,939
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,078,780
$1.1M
Cap Rate 7%
$770,557
$770.6K
Cap Rate 9%
$599,322
$599.3K
Market Conditions
NOI Build-Up for 4,028 SF
Gross rent
$96.1K $23.87/SF
− Vacancy
−$24.2K −$6.02/SF
EGI
$71.9K $17.85/SF
− OpEx
−$18.0K −$4.46/SF
NOI
$53.9K $13.39/SF
Area
Newton 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 Rate 5%
$1,078,780
Cap Rate 7%
$770,557
Cap Rate 9%
$599,322
Alternative Uses
Best Use
Office B
$770.6K
$674.2K – $899.0K
NOI $53,939 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$985.2K – $1.31M
NOI $78,819 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,408
Businesses Nearby
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Business Placement
Demographics for 30014, GA
39,247
Population
16,159
Households
2.4
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
120.7 sq mi
ZIP Area
325
Density / Sq Mi
$71,055
Median Household Income
$37,714
Median Earnings
$1,199
Median Rent
$253,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Both levels provide private offices, meeting space, restrooms, and storage.
Where is this office building located?
The property is located at 1143 College Avenue SE Covington, GA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,028‑square‑foot office building on a 0.1‑acre parcel; Built in 1823; original heart pine flooring remains; Two levels with offices, conference rooms, restrooms, and storage
