Renovated Mixed-Use
For Sale
$2,750,000
119 Ridley Avenue, Lagrange, GA 30240
Commercial Sale, Lagrange, GA
Property Size22,651 SF
Lot Size0.52 Acres
Price / SF$121.41
Days on Market341
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
Natural Gas, Electric (Heating), Central
Cooling system
Central Air, Gas (Cooling), Electric
Water source
Public
Building Details
Year built
1900
Flooring type
Hardwood, Carpet, Tile
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 29
Last Checked: Aug 29 at 4:06AM
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 property contains approximately 18,600 square feet of leasable office and retail space within a 22,651-square-foot property. Renovated in recent years, the building features office suites, retail areas, a main lobby, an elevator, and multiple staircases serving all floors. Brick and concrete construction is complemented by tile, carpet, and hardwood flooring.
Built in 1900, the property occupies 0.52 acres on Ridley Avenue in downtown LaGrange, directly across from the courthouse and government center. Public water and public sewer serve the building, with water available and a parking lot on site. Heating and cooling systems include central, electric, natural gas, and central air components as identified in the property information.
Built in 1900, the property occupies 0.52 acres on Ridley Avenue in downtown LaGrange, directly across from the courthouse and government center. Public water and public sewer serve the building, with water available and a parking lot on site. Heating and cooling systems include central, electric, natural gas, and central air components as identified in the property information.
Key Highlights
- Approximately 18,600 SF of leasable office and retail space
- 22,651‑square‑foot mixed‑use property on 0.52 acres
- Three‑story building with elevator and multiple staircases
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
$234,438
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
8.53%
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%
$4,688,760
$4.7M
Cap Rate 7%
$3,349,114
$3.3M
Cap Rate 9%
$2,604,867
$2.6M
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
$407.7K $18.00/SF
− Vacancy
−$32.6K −$1.44/SF
EGI
$375.1K $16.56/SF
− OpEx
−$140.7K −$6.21/SF
NOI
$234.4K $10.35/SF
Area
Troup County, GA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$4,688,760
Cap Rate 7%
$3,349,114
Cap Rate 9%
$2,604,867
Alternative Uses
Best Use
Retail
$3.94M
$3.45M – $4.60M
NOI $275,904 @ 7.0% cap · market cap 10.03%
Second Best
Office B
$3.78M
$3.31M – $4.41M
NOI $264,874 @ 7.0% cap · market cap 9.63%
Theoretical Best
Office A
$5.07M
$4.43M – $5.91M
NOI $354,773 @ 7.0% cap · market cap 12.90%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story commercial property combining office suites and retail space with elevator access and public utilities.
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 $2,750,000.
What are key features of this property?
This property features: Approximately 18,600 SF of leasable office and retail space; 22,651‑square‑foot mixed‑use property on 0.52 acres; Three‑story building with elevator and multiple staircases
