Versatile Retail Space Near
For Sale
Contact for pricing
6135 Petty Street SW, Covington, GA 30014
Retail space suitable for various community-focused uses.
Property Size3,120 SF
Price / SF$256.41
Days on Market548
Property Features for 6135 Petty Street SW
General Information
Standard status
Active
Size
3,120 SF
Total Parking Spaces
10
Property subtype
Retail, Office
Building Details
Year Built
1988
Buildings
1
Listing Agency:
Platinum Access
(678) 549-7105
Listed By:
Yolanda Rolle · License #338657
Source:
Crexi
Added: Feb 28, 2025
Changed: Aug 27
Last Checked: Aug 29 at 8:31PM
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 Platinum Access
Investment Insights
Based on property information with market context.
This versatile property presents a prime retail opportunity, located just one mile from Covington Square. The property is suitable for a Personal Care Home or other community-focused uses. A preliminary permit is in place for an Adult Daycare. The top level features six spacious, ready-to-use rooms, ideal for immediate operation or office setup. The basement level is pre-framed for a kitchen and six additional rooms, ready for expansion, customization, or future build-out. The property offers a combination of location, layout, and opportunity.
Key Highlights
- Prime location just one mile from Covington Square.
- Preliminary permit in place for an Adult Daycare.
- Top level features six spacious, ready‑to‑use rooms.
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
$43,884
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
5.49%
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%
$877,680
$877.7K
Cap Rate 7%
$626,914
$626.9K
Cap Rate 9%
$487,600
$487.6K
Market Conditions
NOI Build-Up for 3,120 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
$68.5K $21.96/SF
− Vacancy
−$5.8K −$1.87/SF
EGI
$62.7K $20.09/SF
− OpEx
−$18.8K −$6.03/SF
NOI
$43.9K $14.07/SF
Area
Newton 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%
$877,680
Cap Rate 7%
$626,914
Cap Rate 9%
$487,600
Alternative Uses
Best Use
Retail
$626.9K
$548.6K – $731.4K
NOI $43,884 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$872.2K
$763.1K – $1.02M
NOI $61,051 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
Explore this area
Business Placement
Demographics for 30014, GA
39,247
Population
16,159
Households
2.4
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
120.7 sq mi
ZIP Area
325
Density / Sq Mi
$71,055
Median Household Income
$37,714
Median Earnings
$1,199
Median Rent
$253,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space suitable for various community-focused uses.
Where is this retail space located?
The property is located at 6135 Petty Street SW Covington, GA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Prime location just one mile from Covington Square.; Preliminary permit in place for an Adult Daycare.; Top level features six spacious, ready‑to‑use rooms.
