Flex Space with Service
For Sale
$200,000
12 Sixth St, Griffin, GA 30224
Versatile commercial building with high ceilings, office space, a full bathroom, parking, and room for equipment or fleet vehicles.
Property Size2,520 SF
Price / SF$79.37
Days on Market45
Property Features for 12 Sixth St
General Information
Standard status
Active
Size
2,520 SF
Amenities
high ceilings
office space
full bathroom
ample parking
Building Details
Year Built
1995
Buildings
1
Building Size
2,520 SF
Listing Agency:
Dream Realty Inc.
Listed By:
Vernice Dauphin · License #176407
(404) 207-7829
Source:
Brockteam
Added: Jul 31
Changed: Sep 11
Last Checked: Sep 13 at 3:44PM
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 Dream Realty Inc.
Investment Insights
Based on property information with market context.
Built in 1995, this 2,520 SF flex space combines multiple service bays with high ceilings and a practical interior configuration. The building also includes office space and a full bathroom, supporting a range of service, storage, fabrication, and vehicle-oriented operations.
The property occupies nearly one acre in Griffin, GA, with ample parking and additional room for equipment, trailers, or fleet vehicles. Its location provides access to downtown Griffin and surrounding highways. Potential applications identified for the property include automotive repair, contractor operations, warehouse use, fabrication, and detailing.
The property occupies nearly one acre in Griffin, GA, with ample parking and additional room for equipment, trailers, or fleet vehicles. Its location provides access to downtown Griffin and surrounding highways. Potential applications identified for the property include automotive repair, contractor operations, warehouse use, fabrication, and detailing.
Key Highlights
- 2,520 SF flex space on nearly one acre
- Multiple service bays with high ceilings
- Office space and a full bathroom
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
$15,351
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
7.68%
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%
$307,020
$307.0K
Cap Rate 7%
$219,300
$219.3K
Cap Rate 9%
$170,567
$170.6K
Market Conditions
NOI Build-Up for 2,520 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
$23.9K $9.48/SF
− Vacancy
−$2.0K −$0.78/SF
EGI
$21.9K $8.70/SF
− OpEx
−$6.6K −$2.61/SF
NOI
$15.4K $6.09/SF
Area
Spalding County, GA
Vacancy
8.20%
Lease Rate
$9.48 /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%
$307,020
Cap Rate 7%
$219,300
Cap Rate 9%
$170,567
Alternative Uses
Best Use
Retail
$506.4K
$443.1K – $590.8K
NOI $35,445 @ 7.0% cap · market cap 17.72%
Second Best
Industrial
$219.3K
$191.9K – $255.9K
NOI $15,351 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$707.6K
$619.2K – $825.6K
NOI $49,533 @ 7.0% cap · market cap 24.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30224, GA
26,696
Population
11,457
Households
2.3
Avg Household Size
40
Median Age
22%
College-Educated
88%
High-School Grad
67.7 sq mi
ZIP Area
394
Density / Sq Mi
$70,134
Median Household Income
$39,667
Median Earnings
$1,105
Median Rent
$210,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building with high ceilings, office space, a full bathroom, parking, and room for equipment or fleet vehicles.
Where is this flex space located?
The property is located at 12 Sixth St Griffin, GA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 2,520 SF flex space on nearly one acre; Multiple service bays with high ceilings; Office space and a full bathroom
