Flex Space with Drive-Through
New
For Sale
$1,835,000
120 Walker Parkway, Fayetteville, GA 30214
C-3 flex property with automotive improvements, office areas, secondary workspace, and a fenced rear yard.
Property Size1,983 SF
Price / SF$229.38
Days on Market5
Property Features for 120 Walker Parkway
General Information
Standard status
Active
Size
1,983 SF
Property subtype
Other
Zoning
C-3
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Additional Details
Office Build-Out
1,200 SF
Service Bays
7
Amenities
multiple offices
kitchenette
8 bathrooms
two washer/dryer hookups
multiple entrances
0.75 acres, Corner Lot, Level, Semi Turning Available
Metal
Fenced, Privacy, Security
Septic Tank
Annual Amount: $3,987, Year: 2025
Carpet, Concrete, Hardwood
Central Air, Fans
Natural Gas, Central
Cumulative Days on Market: 2, 2 days on market, On Market Date: 2026-08-28
Covered, Parking Lot
Built in 1983, Block, Concrete, Mixed Use, Warehouse
County: Fayette
Resale
220 Volts, 440 Volts, 3 Phase Electricity Available, Cable Available, Electricity Available, High Speed Internet, Natural Gas Available, Phone Available, Underground Utilities, Water Available, Public
Negotiable
Accessible Entrance
Building Details
Building Size
1,983 SF
Year Built
1983
Buildings
2
Listing Agency:
Keller Williams Realty Atl. Partners
(770) 508-7098
Listed By:
Kelli Bero
(770) 508-7098
Source:
Blackstreaminternational
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 2:00PM
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 Keller Williams Realty Atl. Partners
Investment Insights
Based on property information with market context.
This C-3 flex property includes an 8,000-square-foot primary building and a 1,500-square-foot secondary structure with power. The main building is configured for automotive operations with 7 heated service bays, 4 lifts, and a drive-through bay. More than 1,200 square feet of heated and cooled office space includes multiple offices, a kitchenette, 8 bathrooms, and two washer/dryer hookups. The additional building provides garage or workspace capacity and a 5th lift station, while the fenced rear yard supports vehicle or equipment storage. County water and a private septic system serve the property. Positioned along Georgia Highway 85, the site is next door to Starbucks and Jim 'N Nick's Bar-B-Q, with the Fayette Pavilion and new commercial construction nearby. The property has operated as an automotive repair business for more than 37 years.
Key Highlights
- 8,000‑square‑foot primary building with 80x100 dimensions
- 1,500‑square‑foot secondary building with power
- 7 heated service bays and 4 lifts, including a drive‑through bay
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
$112,523
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
6.13%
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%
$2,250,460
$2.3M
Cap Rate 7%
$1,607,471
$1.6M
Cap Rate 9%
$1,250,256
$1.3M
Market Conditions
NOI Build-Up for 8,000 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
$175.7K $21.96/SF
− Vacancy
−$14.9K −$1.87/SF
EGI
$160.7K $20.09/SF
− OpEx
−$48.2K −$6.03/SF
NOI
$112.5K $14.07/SF
Area
Fayette County, GA
Vacancy
8.50%
Lease Rate
$21.96 /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%
$2,250,460
Cap Rate 7%
$1,607,471
Cap Rate 9%
$1,250,256
Alternative Uses
Best Use
Retail
$1.61M
$1.41M – $1.88M
NOI $112,523 @ 7.0% cap · market cap 6.13%
Second Best
Office B
$1.53M
$1.34M – $1.79M
NOI $107,129 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,541 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Service bays
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
757
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30214, GA
32,135
Population
12,680
Households
2.5
Avg Household Size
45
Median Age
37%
College-Educated
92%
High-School Grad
52.7 sq mi
ZIP Area
610
Density / Sq Mi
$87,138
Median Household Income
$48,400
Median Earnings
$1,599
Median Rent
$338,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - C-3 flex property with automotive improvements, office areas, secondary workspace, and a fenced rear yard.
Where is this flex space located?
The property is located at 120 Walker Parkway Fayetteville, GA.
What is the asking price?
The asking price for this property is $1,835,000.
What are key features of this property?
This property features: 8,000‑square‑foot primary building with 80x100 dimensions; 1,500‑square‑foot secondary building with power; 7 heated service bays and 4 lifts, including a drive‑through bay
