Three-Story Office and Retail
For Sale
$3,750,000
119 Ridley Avenue Lagrange, Lagrange, GA 30240
Renovated downtown mixed-use building with elevator and stair access across three floors near the courthouse.
Property Size22,651 SF
Price / SF$165.56
Days on Market50
Property Features for 119 Ridley Avenue Lagrange
General Information
Standard status
Active
Size
22,651 SF
Taxes and HOA fees
Annual Taxes
$15,166
Amenities
Carpet,Hardwood,Tile
true
Public Records
Square Feet
City Lot,Corner Lot
Public
22651.2
0.52
Paved,Parking Lot
22651
1
Building Details
Building Size
22,651 SF
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
J.T. Jones & Associates Realty, Inc
(706) 480-5310
Listed By:
Dayne Kimsey · License #134913
(706) 480-5310
Source:
Thesoldsquad
Added: Jul 1
Changed: Aug 10
Last Checked: Aug 19 at 5:06AM
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 J.T. Jones & Associates Realty, Inc
Investment Insights
Based on property information with market context.
This three-story mixed-use office and retail building offers approximately 18,600 SF of leasable space. The property has been renovated in recent years and features a main lobby with an elevator and multiple staircases for convenient access to all three floors. Exterior architecture combines historic character with modern functionality, while the interiors include finishes intended for both professional office tenants and retail users.
The building is located in the heart of downtown LaGrange on Ridley Avenue and sits directly across from the courthouse and government center. Its position along the downtown streetscape supports walk-up visibility and pedestrian-oriented foot traffic from the adjacent civic facilities.
With access to office and retail space within the same building, this property can support a range of tenant configurations and operational needs. The presence of the elevator and multiple stairways simplifies movement between levels for staff, customers, and visitors. For buyers and operators seeking a downtown mixed-use asset with updated interiors and well-considered building circulation, this centrally situated property provides a practical foundation for leasing and occupancy planning.
The building is located in the heart of downtown LaGrange on Ridley Avenue and sits directly across from the courthouse and government center. Its position along the downtown streetscape supports walk-up visibility and pedestrian-oriented foot traffic from the adjacent civic facilities.
With access to office and retail space within the same building, this property can support a range of tenant configurations and operational needs. The presence of the elevator and multiple stairways simplifies movement between levels for staff, customers, and visitors. For buyers and operators seeking a downtown mixed-use asset with updated interiors and well-considered building circulation, this centrally situated property provides a practical foundation for leasing and occupancy planning.
Key Highlights
- Approximately 18,600 SF (leasable space) three‑story mixed‑use office & retail building
- Main lobby includes an elevator plus multiple staircases providing access to all three floors
- Situated on a 0.52‑acre city/corner lot with parking lot paved parking
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
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 - Renovated downtown mixed-use building with elevator and stair access across three floors near the courthouse.
Where is this mixed-use property located?
The property is located at 119 Ridley Avenue Lagrange 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: Approximately 18,600 SF (leasable space) three‑story mixed‑use office & retail building; Main lobby includes an elevator plus multiple staircases providing access to all three floors; Situated on a 0.52‑acre city/corner lot with parking lot paved parking
