Multi-Story Office
New
For Sale
$990,000
115 Sycamore Dr, Athens, GA 30606
Includes private offices, conference space, kitchenettes, and dedicated storage areas.
Property Size6,837 SF
Days on Market3
Property Features for 115 Sycamore Dr
General Information
Standard status
Active
Size
6,837 SF
Property subtype
Office - General Office
Building Details
Building Size
6,837 SF
Year Built
1985
Buildings
1
Stories
3
Listing Agency:
Coldwell Banker Commercial Upchurch Realty
Listed By:
Roby Redwine
Source:
Commercialcafe
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 8:42PM
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 Coldwell Banker Commercial Upchurch Realty
Investment Insights
Based on property information with market context.
Located at 115 Sycamore Dr in Athens, Georgia, this 3.5-story office building was constructed in 1985. The ground level includes five private offices, a conference room, kitchenette, and two storage rooms. Seven additional private offices are located on the main floor, while the third floor provides seven private offices and another kitchenette.
The building contains six single-user restrooms in total, with two on each primary office floor. An attic-level space adds one large room that can serve as storage or office space. The existing mix of enclosed offices, meeting space, kitchenettes, restrooms, and storage provides a defined office layout across multiple levels.
The building contains six single-user restrooms in total, with two on each primary office floor. An attic-level space adds one large room that can serve as storage or office space. The existing mix of enclosed offices, meeting space, kitchenettes, restrooms, and storage provides a defined office layout across multiple levels.
Key Highlights
- 3.5‑story office building at 115 Sycamore Dr, Athens, GA 30606
- Ground floor includes 5 private offices, 1 conference room, 1 kitchenette, and 2 storage rooms
- Main floor features 7 private offices
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
$88,497
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
8.94%
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%
$1,769,940
$1.8M
Cap Rate 7%
$1,264,243
$1.3M
Cap Rate 9%
$983,300
$983.3K
Market Conditions
NOI Build-Up for 6,837 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
$147.7K $21.60/SF
− Vacancy
−$29.7K −$4.34/SF
EGI
$118.0K $17.26/SF
− OpEx
−$29.5K −$4.31/SF
NOI
$88.5K $12.94/SF
Area
Athens, GA
Vacancy
20.10%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,769,940
Cap Rate 7%
$1,264,243
Cap Rate 9%
$983,300
Alternative Uses
Best Use
Office B
$1.26M
$1.11M – $1.47M
NOI $88,497 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,374 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
Explore this area
Business Placement
Demographics for 30606, GA
46,798
Population
22,603
Households
2.1
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
30.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$61,397
Median Household Income
$35,854
Median Earnings
$1,222
Median Rent
$332,600
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 - Includes private offices, conference space, kitchenettes, and dedicated storage areas.
Where is this office building located?
The property is located at 115 Sycamore Dr Athens, GA.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 3.5‑story office building at 115 Sycamore Dr, Athens, GA 30606; Ground floor includes 5 private offices, 1 conference room, 1 kitchenette, and 2 storage rooms; Main floor features 7 private offices
