Historic Marietta Office Building For
For Sale
$895,000
236 Washington Ave NE, Marietta, GA 30060
Turnkey, multi-tenant office building on prestigious 'Lawyer's Row'.
Property Size2,683 SF
Price / SF$333.58
Days on Market101
Property Features for 236 Washington Ave NE
General Information
Standard status
Active
Size
2,683 SF
Building Details
Year Built
1900
Listing Agency:
Atlanta Communities
Listed By:
Geoffrey Nagy
(770) 240-2000
Source:
Harmonandharmon
Added: May 25
Changed: Aug 23
Last Checked: Sep 1 at 9:43PM
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 Atlanta Communities
Investment Insights
Based on property information with market context.
This 2,683-square-foot landmark property, built in 1900, is located on Washington Avenue NE, known as "Lawyer's Row". The property currently operates as a fully occupied multi-tenant professional office building. It features six private offices, a dedicated administrative office, a common area sitting room, two restrooms, and a full kitchen. A rear parking lot provides off-street parking. A classic rocking chair front porch welcomes visitors. All six offices are currently leased to individual attorneys, providing rental income. The owner's office will be vacated at closing, offering the option to occupy one suite while collecting rent from the remaining five. The building has a newer roof. Situated less than one mile from Historic Marietta Square and Cobb County government buildings, and approximately two miles from I-75, the location is practical. It is suitable for an attorney, consultant, or professional services firm looking to offset ownership costs with built-in revenue. The property is ideal for an investor seeking a turnkey income-producing asset.
Key Highlights
- Fully leased, providing immediate and steady rental income from six private offices.
- Prime location on Marietta's historic 'Lawyer's Row,' near the courthouse square and government buildings.
- Opportunity to occupy one office suite while collecting rent from the remaining five.
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
$35,928
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
4.01%
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%
$718,560
$718.6K
Cap Rate 7%
$513,257
$513.3K
Cap Rate 9%
$399,200
$399.2K
Market Conditions
NOI Build-Up for 2,683 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
$64.0K $23.87/SF
− Vacancy
−$16.1K −$6.02/SF
EGI
$47.9K $17.85/SF
− OpEx
−$12.0K −$4.46/SF
NOI
$35.9K $13.39/SF
Area
Cobb 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%
$718,560
Cap Rate 7%
$513,257
Cap Rate 9%
$399,200
Alternative Uses
Best Use
Office B
$513.3K
$449.1K – $598.8K
NOI $35,928 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$753.4K
$659.2K – $879.0K
NOI $52,737 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,798
Businesses Nearby
Explore this area
Business Placement
Demographics for 30060, GA
39,890
Population
15,036
Households
2.7
Avg Household Size
32
Median Age
29%
College-Educated
79%
High-School Grad
15.5 sq mi
ZIP Area
2,574
Density / Sq Mi
$62,180
Median Household Income
$34,537
Median Earnings
$1,344
Median Rent
$282,200
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?
Office building - Turnkey, multi-tenant office building on prestigious 'Lawyer's Row'.
Where is this office building located?
The property is located at 236 Washington Ave NE Marietta, GA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Fully leased, providing immediate and steady rental income from six private offices.; Prime location on Marietta's historic 'Lawyer's Row,' near the courthouse square and government buildings.; Opportunity to occupy one office suite while collecting rent from the remaining five.
