Turnkey Office Space For
For Sale
Contact for pricing
690 Oglethorpe Ave, Athens, GA
Convenient office space inside the loop, ready for business.
Property Size1,380 SF
Lot Size1.27 Acres
Price / SF$217.39
Days on Market520
Property Features for 690 Oglethorpe Ave
General Information
Standard status
Active
Size
1,380 SF
Lot size
1.27 Acres
Property subtype
OFFICE
Listing Agency:
Pen Pointe Brokers LLC
(404) 425-8949
Listed By:
Victoria Willis
Source:
Moodyscre
Added: Mar 19, 2025
Changed: Jul 6
Last Checked: Aug 20 at 1:06PM
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 Pen Pointe Brokers LLC
Investment Insights
Based on property information with market context.
This 1,380 square foot office space is situated inside the loop. Currently used as an aestheticians office/spa, it previously housed a dental practice and could be easily converted back, with electrical and plumbing connections still in place in the floor. The property features a spacious lobby and receptionist area, three patient rooms, a small breakroom, two bathrooms, a large office or conference space, a laundry closet, and an outside break area. The property is located in a medical complex with ample parking. Extra insulation has been added in the attic for energy efficiency. This neat, clean, and trendy space is ready for business.
Key Highlights
- Prime location inside the loop, offering exceptional convenience and accessibility.
- Turn‑key office space, ready for immediate occupancy**.
- Adaptable layout suitable for various medical or professional uses (previously a dental practice and currently an aesthetics office/spa).
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
$17,885
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
5.96%
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%
$357,700
$357.7K
Cap Rate 7%
$255,500
$255.5K
Cap Rate 9%
$198,722
$198.7K
Market Conditions
NOI Build-Up for 1,380 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
$33.1K $24.00/SF
− Vacancy
−$3.3K −$2.40/SF
EGI
$29.8K $21.60/SF
− OpEx
−$11.9K −$8.64/SF
NOI
$17.9K $12.96/SF
Area
Athens, GA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$357,700
Cap Rate 7%
$255,500
Cap Rate 9%
$198,722
Alternative Uses
Best Use
Healthcare Medical
$255.5K
$223.6K – $298.1K
NOI $17,885 @ 7.0% cap · market cap 5.96%
Second Best
Office B
$255.2K
$223.3K – $297.7K
NOI $17,862 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$332.7K
$291.1K – $388.1K
NOI $23,287 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
919
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Hawthorne Animal Hospital — 530 Hawthorne Ave, Athens, GA 30606
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- Dr. Karen Middendorf — 815 Hawthorne Ave, Athens, GA 30606, United States
- Dr. Anita Stampley — 2315 Prince Ave, Athens, GA 30606
- Mobile Veterinary Ultrasound — 265 Willow Run, Athens, GA 30606
Frequently Asked Questions
What type of property is this?
Medical Office Space - Convenient office space inside the loop, ready for business.
Where is this medical office space located?
The property is located at 690 Oglethorpe Ave Athens, GA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Prime location inside the loop, offering exceptional convenience and accessibility.; Turn‑key office space, ready for immediate occupancy**.; Adaptable layout suitable for various medical or professional uses (previously a dental practice and currently an aesthetics office/spa).
