Three-Story Mixed-Use
For Sale
$3,750,000
119 Ridley Avenue, Lagrange, GA 30240
COMMERCIAL - Lagrange, GA
Property Size18,600 SF
Lot Size0.52 Acres
Price / SF$165.56
Days on Market324
Property Features for 119 Ridley Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
City Lot, Corner Lot
Directions
119 Ridley Avenue, LaGrange GA 30240 Located in downtown LaGrange Across from the Troup County Government Center
Standard status
Active
APN
0614W002017
Size
22,651 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
15166
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central, Natural Gas, Electric (Heating)
Cooling system
Electric, Gas (Cooling), Central Air
Water source
Public
Amenities
elevator
Building Details
Year built
1900
Flooring type
Tile, Carpet, Hardwood
Building materials
Brick, Concrete
Roof type
Composition
Listing Agency:
J.T. Jones & Associates Realty
(706) 883-6123
Listed By:
Jared T Jones · License #134913
(706) 333-7202
Added: Sep 23, 2025
Changed: Aug 4
Last Checked: Aug 12 at 7:06AM
MLS# 10619296
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.
Investment Insights
Based on property information with market context.
This three-story mixed-use office and retail building provides approximately 18,600 SF of leasable space within a brick and concrete structure. The property sits on a 0.52-acre lot and features a main lobby with an elevator and multiple staircases for access to all three floors. Interior finishes include hardwood, carpet, and tile flooring, with electric and natural gas heating, and central cooling. The building is topped with a composition roof and includes a parking lot.
Located at 119 Ridley Avenue in the heart of downtown LaGrange, the building is directly across from the courthouse and government center, offering prominent streetscape presence. The offering is described as recently renovated and designed to support both professional office and retail use.
Built in 1900 with public water and public sewer service, this property’s mix of office and retail configuration is positioned for buyers seeking a downtown mixed-use asset with direct civic-adjacent visibility.
Located at 119 Ridley Avenue in the heart of downtown LaGrange, the building is directly across from the courthouse and government center, offering prominent streetscape presence. The offering is described as recently renovated and designed to support both professional office and retail use.
Built in 1900 with public water and public sewer service, this property’s mix of office and retail configuration is positioned for buyers seeking a downtown mixed-use asset with direct civic-adjacent visibility.
Key Highlights
- 0.52‑acre lot with approximately 18,600 SF leasable space
- Three‑story mixed‑use office and retail building with elevator and multiple staircases
- Brick and concrete construction with hardwood, carpet, and tile flooring
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
$275,904
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
7.36%
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%
$5,518,080
$5.5M
Cap Rate 7%
$3,941,486
$3.9M
Cap Rate 9%
$3,065,600
$3.1M
Market Conditions
NOI Build-Up for 22,651 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
$413.2K $18.24/SF
− Vacancy
−$19.0K −$0.84/SF
EGI
$394.1K $17.40/SF
− OpEx
−$118.2K −$5.22/SF
NOI
$275.9K $12.18/SF
Area
Troup County, GA
Vacancy
4.60%
Lease Rate
$18.24 /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%
$5,518,080
Cap Rate 7%
$3,941,486
Cap Rate 9%
$3,065,600
Alternative Uses
Best Use
Retail
$3.94M
$3.45M – $4.60M
NOI $275,904 @ 7.0% cap · market cap 7.36%
Second Best
Office B
$3.78M
$3.31M – $4.41M
NOI $264,874 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$5.07M
$4.43M – $5.91M
NOI $354,773 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,239
Businesses Nearby
Explore this area
Business Placement
Demographics for 30240, GA
30,119
Population
12,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
139.6 sq mi
ZIP Area
216
Density / Sq Mi
$59,521
Median Household Income
$40,611
Median Earnings
$1,035
Median Rent
$221,800
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?
Mixed-use property - Three-story brick mixed-use office and retail building with elevator and parking lot, renovated in recent years.
Where is this mixed-use property located?
The property is located at 119 Ridley Avenue Lagrange, GA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 0.52‑acre lot with approximately 18,600 SF leasable space; Three‑story mixed‑use office and retail building with elevator and multiple staircases; Brick and concrete construction with hardwood, carpet, and tile flooring
