Office Units with Secured
For Sale
$249,900
120 Peter Street, Lagrange, GA 30240
Commercial Sale, Lagrange, GA
Property Size2,340 SF
Lot Size0.56 Acres
Price / SF$106.79
Days on Market46
Property Features for 120 Peter Street
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
20
Parking features
Secured, Covered, Parking Lot
Security features
Security
Lot features
City Lot, Corner Lot, Level
Directions
From Downtown LaGrange, take Bull Street down past the skate park, turn right on Main Street/Hamilton Street over the railroad tracks. Then, take an immediate right onto Peter Street (across from the Habitat for Humanity Restore). The office is on the right.
Standard status
Active
APN
0614D020006Z
Size
2,340 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
160
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1950
Flooring type
Laminate, Carpet
Building materials
Block, Brick
Roof type
Composition
Listing Agency:
Josey Young & Brady Realty
(770) 683-1800
Listed By:
Russell Berry · License #318950
(678) 416-9241
Added: Jul 17
Changed: Aug 19
Last Checked: Aug 31 at 7:06PM
MLS# 10807520
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 2,340-square-foot office property was built in 1950 and includes laminate and carpet flooring, central heating, electric cooling, and central air. The site covers 0.56 acres, with a gated parking lot that includes covered spaces for larger vehicles. Block and brick construction, public water, public sewer, a composition roof, and cable availability are also in place.
Located just outside downtown LaGrange, the property offers convenient access to I-85. General industrial zoning supports a range of commercial and industrial applications, including equipment sales, building material sales, data processing, warehousing, automotive sales, and distillery use.
Located just outside downtown LaGrange, the property offers convenient access to I-85. General industrial zoning supports a range of commercial and industrial applications, including equipment sales, building material sales, data processing, warehousing, automotive sales, and distillery use.
Key Highlights
- 2,340‑square‑foot office property on a 0.56‑acre site
- Gated parking lot with secured and covered parking
- General industrial zoning supports varied commercial and industrial uses
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
$10,439
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
4.18%
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%
$208,780
$208.8K
Cap Rate 7%
$149,129
$149.1K
Cap Rate 9%
$115,989
$116.0K
Market Conditions
NOI Build-Up for 2,340 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
$16.1K $6.86/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$14.9K $6.37/SF
− OpEx
−$4.5K −$1.91/SF
NOI
$10.4K $4.46/SF
Area
Troup County, GA
Vacancy
7.10%
Lease Rate
$6.86 /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%
$208,780
Cap Rate 7%
$149,129
Cap Rate 9%
$115,989
Alternative Uses
Best Use
Office B
$390.9K
$342.0K – $456.1K
NOI $27,363 @ 7.0% cap · market cap 10.95%
Second Best
Industrial
$149.1K
$130.5K – $174.0K
NOI $10,439 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$523.6K
$458.1K – $610.8K
NOI $36,650 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
824
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?
Office units - General industrial zoning supports office operations, equipment sales, warehousing, and other commercial uses.
Where is this office units located?
The property is located at 120 Peter Street Lagrange, GA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 2,340‑square‑foot office property on a 0.56‑acre site; Gated parking lot with secured and covered parking; General industrial zoning supports varied commercial and industrial uses
