Freestanding Multi-Unit Office
For Sale
$699,000
245 W Moreno Street, Buford, GA 30518
Commercial Sale, Buford, GA
Property Size2,400 SF
Lot Size0.23 Acres
Price / SF$291.25
Days on Market744
Property Features for 245 W Moreno Street
General Information
Property type
Residential
Property subtype
Office
Zoning
C2
Parking
13
Parking features
Parking Lot
Interior features
Reception Area, Restrooms
Fencing
Chain Link
Lot features
Free Standing, Level
View
City
Directions
Lee Street and Moreno, Right behind the Buford Grill
Standard status
Active
APN
R7294D134
Size
2,400 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
2296
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1983
Floors in Building
2
Flooring type
Hardwood, Carpet
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Heartland Real Estate, LLC
(470) 655-1976
Listed By:
Cinthia Bohall · License #358389
(678) 250-5848
Added: Aug 29, 2024
Changed: Sep 8
Last Checked: Sep 11 at 1:06AM
MLS# 7447066
Copyright © 2026 First Multiple Listing Service, Inc. 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 office building contains 2,400 square feet arranged across four units, each with its own entrance, electric meter, and HVAC system. Downstairs Units A and D are currently combined but can be separated into two spaces. Interior features include reception areas and restrooms, with hardwood and carpet flooring, central heating and cooling, vinyl siding, an asphalt roof, and a chain-link fence. The property was built in 1983 and includes a dedicated parking lot.
Set on 0.23 acres in Downtown Buford, the property sits one street south of Main Street and behind Buford Grill. Rico's World Kitchen and Main Street Blooms are nearby. Two units are leased: Unit B to a renovations company and Unit C to a used auto broker. C2 zoning, public water, public sewer, and cable availability are in place. The City of Buford has approved sidewalk construction on West Moreno Street, with project details available from the city.
Set on 0.23 acres in Downtown Buford, the property sits one street south of Main Street and behind Buford Grill. Rico's World Kitchen and Main Street Blooms are nearby. Two units are leased: Unit B to a renovations company and Unit C to a used auto broker. C2 zoning, public water, public sewer, and cable availability are in place. The City of Buford has approved sidewalk construction on West Moreno Street, with project details available from the city.
Key Highlights
- 2,400‑square‑foot office building on 0.23 acres
- Four units with independent entrances, electric meters, and HVAC
- Downstairs Units A and D can be separated into two spaces
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
$32,139
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
4.60%
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%
$642,780
$642.8K
Cap Rate 7%
$459,129
$459.1K
Cap Rate 9%
$357,100
$357.1K
Market Conditions
NOI Build-Up for 2,400 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
$57.3K $23.87/SF
− Vacancy
−$14.4K −$6.02/SF
EGI
$42.9K $17.85/SF
− OpEx
−$10.7K −$4.46/SF
NOI
$32.1K $13.39/SF
Area
Gwinnett County, GA
Vacancy
25.20%
Lease Rate
$23.87 /SF/Yr
Expense Ratio
25.00%
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%
$642,780
Cap Rate 7%
$459,129
Cap Rate 9%
$357,100
Alternative Uses
Best Use
Office B
$459.1K
$401.7K – $535.7K
NOI $32,139 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$670.9K
$587.0K – $782.7K
NOI $46,962 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
Explore this area
Business Placement
Demographics for 30518, GA
56,149
Population
19,435
Households
2.9
Avg Household Size
36
Median Age
40%
College-Educated
88%
High-School Grad
40.0 sq mi
ZIP Area
1,404
Density / Sq Mi
$97,339
Median Household Income
$46,683
Median Earnings
$1,611
Median Rent
$367,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - C2-zoned office property with four separately entered units, individual HVAC and electric metering, plus on-site parking.
Where is this office building located?
The property is located at 245 W Moreno Street Buford, GA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2,400‑square‑foot office building on 0.23 acres; Four units with independent entrances, electric meters, and HVAC; Downstairs Units A and D can be separated into two spaces
