Historic Office
For Sale
$1,025,000
119 Washington St NE, Gainesville, GA 30501
Remodeled professional office property with flexible main-level and upper-level configurations in the Central Business district.
Property Size2,688 SF
Price / SF$381.32
Days on Market76
Property Features for 119 Washington St NE
General Information
Standard status
Active
Size
2,688 SF
Zoning
C-B
Building Details
Year Built
1910
Year Renovated
2005
Buildings
1
Building Size
2,688 SF
Listing Agency:
Resource Brokers, LLC
Listed By:
Leslie White, Kayla Watson
Source:
Annakintown
Added: Aug 1
Changed: Oct 4
Last Checked: Oct 7 at 3:23PM
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 Resource Brokers, LLC
Investment Insights
Based on property information with market context.
Constructed in 1910 and remodeled in 2005, this ±2,688-square-foot office building combines historic character with updated functionality. The approximately 2,200-square-foot main level includes a conference room, kitchenette, and two restrooms. An upper-level suite of about 488 square feet adds a private office, full bathroom, and bedroom, creating a distinct secondary workspace within the property.
The building is located in the Gainesville Square and sits within walking distance of the Hall County Courthouse and nearby legal and business offices. Central Business (C-B) zoning supports office-related configurations, including legal, consulting, and shared workspace uses as identified for the property.
The building is located in the Gainesville Square and sits within walking distance of the Hall County Courthouse and nearby legal and business offices. Central Business (C-B) zoning supports office-related configurations, including legal, consulting, and shared workspace uses as identified for the property.
Key Highlights
- ±2,688 SF office building constructed in 1910
- Remodeled in 2005
- Main level measures approximately 2,200 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,010
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,200
$720.2K
Cap Rate 7%
$514,429
$514.4K
Cap Rate 9%
$400,111
$400.1K
Market Conditions
NOI Build-Up for 2,688 SF
Gross rent
$64.2K $23.88/SF
− Vacancy
−$16.2K −$6.02/SF
EGI
$48.0K $17.86/SF
− OpEx
−$12.0K −$4.47/SF
NOI
$36.0K $13.40/SF
Area
Hall County, GA
Vacancy
25.20%
Lease Rate
$23.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,200
Cap Rate 7%
$514,429
Cap Rate 9%
$400,111
Alternative Uses
Best Use
Office B
$514.4K
$450.1K – $600.2K
NOI $36,010 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$752.8K
$658.7K – $878.2K
NOI $52,694 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
2,882
Businesses Nearby
Explore this area
Business Placement
Demographics for 30501, GA
29,779
Population
12,916
Households
2.3
Avg Household Size
33
Median Age
21%
College-Educated
71%
High-School Grad
21.9 sq mi
ZIP Area
1,360
Density / Sq Mi
$58,214
Median Household Income
$33,299
Median Earnings
$1,152
Median Rent
$249,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Remodeled professional office property with flexible main-level and upper-level configurations in the Central Business district.
Where is this office building located?
The property is located at 119 Washington St NE Gainesville, GA.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: ±2,688 SF office building constructed in 1910; Remodeled in 2005; Main level measures approximately 2,200 SF
