Freestanding Flex Space
For Sale
$480,000
1200 Central Ave, Atlanta, GA 30344
Freestanding commercial building with I-1 Light Industrial zoning and renovation potential.
Property Size5,332 SF
Price / SF$90.02
Days on Market51
Property Features for 1200 Central Ave
General Information
Standard status
Active
Size
5,332 SF
Building Details
Year Built
1954
Listing Agency:
Engel & Volkers Atlanta
Listed By:
Tamie Pettaway · License #252740
(404) 845-7724
Source:
Shortsaleatlanta
Added: Jul 21
Changed: Sep 8
Last Checked: Sep 4 at 8:06AM
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 Engel & Volkers Atlanta
Investment Insights
Based on property information with market context.
This freestanding flex space building contains approximately 5,332 square feet on approximately 0.23 acres. Constructed in 1954, the property is being sold as-is and requires renovation or repositioning. Previous uses included an audio facility and an auto repair facility, supporting a range of potential commercial configurations subject to independent verification of zoning, permitted uses, and development opportunities.
The property is located near Hartsfield-Jackson Atlanta International Airport, Downtown Atlanta, major interstates, and MARTA access. Its setting provides access to transportation infrastructure, while the I-1 Light Industrial zoning offers a defined framework for evaluating future use. The building may suit an owner-user, warehouse, distribution, light industrial, automotive, or creative workspace application, subject to applicable approvals.
The property is located near Hartsfield-Jackson Atlanta International Airport, Downtown Atlanta, major interstates, and MARTA access. Its setting provides access to transportation infrastructure, while the I-1 Light Industrial zoning offers a defined framework for evaluating future use. The building may suit an owner-user, warehouse, distribution, light industrial, automotive, or creative workspace application, subject to applicable approvals.
Key Highlights
- Approximately 5,332 square feet on approximately 0.23 acres
- I‑1 Light Industrial zoning
- Freestanding building constructed in 1954
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
$37,386
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
7.79%
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%
$747,720
$747.7K
Cap Rate 7%
$534,086
$534.1K
Cap Rate 9%
$415,400
$415.4K
Market Conditions
NOI Build-Up for 5,332 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
$48.2K $9.04/SF
− Vacancy
−$4.2K −$0.79/SF
EGI
$44.0K $8.25/SF
− OpEx
−$6.6K −$1.24/SF
NOI
$37.4K $7.01/SF
Area
Atlanta, GA
Vacancy
8.75%
Lease Rate
$9.04 /SF/Yr
Expense Ratio
15.00%
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%
$747,720
Cap Rate 7%
$534,086
Cap Rate 9%
$415,400
Alternative Uses
Best Use
Flex RnD
$756.9K
$662.3K – $883.1K
NOI $52,985 @ 7.0% cap · market cap 11.04%
Second Best
Warehouse
$534.1K
$467.3K – $623.1K
NOI $37,386 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,335 @ 7.0% cap · market cap 21.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
691
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30344, GA
35,365
Population
17,586
Households
2
Avg Household Size
36
Median Age
36%
College-Educated
89%
High-School Grad
12.1 sq mi
ZIP Area
2,923
Density / Sq Mi
$59,647
Median Household Income
$42,108
Median Earnings
$1,315
Median Rent
$240,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Atlanta, GA
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding commercial building with I-1 Light Industrial zoning and renovation potential.
Where is this flex space located?
The property is located at 1200 Central Ave Atlanta, GA.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Approximately 5,332 square feet on approximately 0.23 acres; I‑1 Light Industrial zoning; Freestanding building constructed in 1954
