Freestanding Flex Space
New
For Sale
$480,000
1200 Central AVE, Atlanta, GA 30344
Atlanta, GA
Property Size5,332 SF
Lot Size0.23 Acres
Price / SF$90.02
Days on Market2
Property Features for 1200 Central AVE
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Lot size
0.23 Acres
Building Details
Year built
1954
Listing Agency:
Engel & Volkers Atlanta · Engel & Völkers
(404) 845-7724
Listed By:
Tamie Pettaway · License #252740
Added: Aug 19
Last Checked: Aug 20 at 4:06PM
MLS# 10782621
Copyright © 2026 Engel & Völkers. 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 freestanding flex space building contains approximately 5,332 square feet on approximately 0.23 acres. Constructed in 1954, the property was previously used for audio and auto repair operations and is offered in as-is condition. The existing structure provides a foundation for renovation, repositioning, or a revised commercial layout, with potential applications subject to zoning and other applicable approvals.
The property is located near Hartsfield-Jackson Atlanta International Airport, Downtown Atlanta, major interstates, and MARTA access. It is identified as Zoned I-1 Light Industrial, although buyers are responsible for independently confirming zoning, permitted uses, building area, and development opportunities.
The site may suit an owner-user, investor, or operator seeking flex, warehouse, automotive, distribution, light industrial, or creative workspace, subject to verification and any required improvements.
The property is located near Hartsfield-Jackson Atlanta International Airport, Downtown Atlanta, major interstates, and MARTA access. It is identified as Zoned I-1 Light Industrial, although buyers are responsible for independently confirming zoning, permitted uses, building area, and development opportunities.
The site may suit an owner-user, investor, or operator seeking flex, warehouse, automotive, distribution, light industrial, or creative workspace, subject to verification and any required improvements.
Key Highlights
- Approximately 5,332‑square‑foot freestanding building
- Approximately 0.23‑acre site
- Zoned I‑1 Light Industrial
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
Retail
$887.8K
$776.8K – $1.04M
NOI $62,144 @ 7.0% cap · market cap 12.95%
Second Best
Flex RnD
$756.9K
$662.3K – $883.1K
NOI $52,985 @ 7.0% cap · market cap 11.04%
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
Property Profile
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
Market
Vacancy Rate% for Industrial in Atlanta, GA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - I-1 Light Industrial zoning supports a range of industrial and commercial configurations, subject to buyer verification.
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‑foot freestanding building; Approximately 0.23‑acre site; Zoned I‑1 Light Industrial
