Marietta Industrial Flex
For Sale
Contact for pricing
115 Davis Cir SW, Marietta, GA 30008
Fully leased industrial flex space ideal for food production.
Property Size24,155 SF
Lot Size1.88 Acres
Price / SF$157.14
Days on Market390
Property Features for 115 Davis Cir SW
General Information
Standard status
Active
Size
24,155 SF
Total Parking Spaces
26
Lot size
1.88 Acres
Property subtype
Industrial
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$265,705
Building Details
Year Built
1986
Year Renovated
2025
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Marathon Property Group, LLC
Listed By:
Andrew Ziffer · License #168762
Source:
Crexi
Added: Jul 18, 2025
Changed: Aug 8
Last Checked: Jul 16 at 12:18PM
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 Marathon Property Group, LLC
Investment Insights
Based on property information with market context.
The property at 115 Davis Circle SW, Marietta, GA 30008, consists of 24,155 square feet of industrial flex space situated on 1.88 acres. The property is fully leased to Farm Hounds, a manufacturer of premium natural pet treats with national reach. The space includes a mix of office, warehouse, cold storage, and food-grade production areas. The property features dock-high access and coolers, making it suitable for food production and logistics. Recent capital improvements totaling $200,000 have been made, including upgraded amenities geared towards food processing. The anchor tenant, Farm Hounds, has committed to a 7-year lease extension, securing their presence until 2032. The location provides access to I-75, CSX rail, and major employment centers in Cobb County.
Key Highlights
- Fully leased to Farm Hounds, a premium natural pet treat manufacturer with national reach
- Farm Hounds committed to a 7‑year lease extension, solidifying their presence until 2032
- Strategic location with easy access to I‑75, CSX rail, and major employment centers in Cobb County
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
$177,318
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
4.67%
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%
$3,546,360
$3.5M
Cap Rate 7%
$2,533,114
$2.5M
Cap Rate 9%
$1,970,200
$2.0M
Market Conditions
NOI Build-Up for 24,155 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
$229.0K $9.48/SF
− Vacancy
−$20.4K −$0.84/SF
EGI
$208.6K $8.64/SF
− OpEx
−$31.3K −$1.30/SF
NOI
$177.3K $7.34/SF
Area
Cobb County, GA
Vacancy
8.90%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$3,546,360
Cap Rate 7%
$2,533,114
Cap Rate 9%
$1,970,200
Alternative Uses
Best Use
Warehouse
$2.53M
$2.22M – $2.96M
NOI $177,318 @ 7.0% cap · market cap 4.67%
Second Best
Industrial
$2.10M
$1.84M – $2.45M
NOI $147,149 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$6.78M
$5.93M – $7.91M
NOI $474,791 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30008, GA
32,435
Population
12,477
Households
2.6
Avg Household Size
34
Median Age
28%
College-Educated
78%
High-School Grad
9.5 sq mi
ZIP Area
3,414
Density / Sq Mi
$73,130
Median Household Income
$39,080
Median Earnings
$1,416
Median Rent
$269,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Finding Flavor — 115 davis cir sw, marietta, ga 30008
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Frequently Asked Questions
What type of property is this?
Flex space - Fully leased industrial flex space ideal for food production.
Where is this flex space located?
The property is located at 115 Davis Cir SW Marietta, GA.
What is the asking price?
The asking price for this property is $3,795,786.
What are key features of this property?
This property features: Fully leased to Farm Hounds, a premium natural pet treat manufacturer with national reach; Farm Hounds committed to a 7‑year lease extension, solidifying their presence until 2032; Strategic location with easy access to I‑75, CSX rail, and major employment centers in Cobb County
