Office-Flex Building with Truck
For Sale
$400,000
415 Flint Avenue, Albany, GA 31701
Heated and cooled office-flex building includes conditioned storage, work room, and rear truck well with an 8' x 8' door.
Property Size4,973 SF
Price / SF$80.43
Days on Market480
Property Features for 415 Flint Avenue
General Information
Standard status
Active
Size
4,973 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$3,646
Amenities
Central Air, A/C - Other
3
Commercial
Other
Other, Paved Road.
Building Details
Year Built
1990
Listing Agency:
SouthCore Real Estate LLC
(229) 405-2483
Listed By:
Mike Everett · License #367742
(229) 894-1925
Source:
Xome
Added: May 11, 2025
Changed: Sep 1
Last Checked: Sep 1 at 2:45PM
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 SouthCore Real Estate LLC
Investment Insights
Based on property information with market context.
This office-flex building totals 4,973 square feet and is fully heated and cooled throughout. The interior layout features a front lobby/office area, a private office, a large conditioned storage area, a large work room, two half-baths, and a break room. Additional storage is available in the attic.
For deliveries and shipping, the rear includes a truck well with an 8' x 8' overhead door. The front exterior has been recently painted, and interior updating has recently been completed.
The combination of dedicated office space and conditioned storage/work areas is well-suited for tenants seeking a functional live-work style arrangement within a single building.
For deliveries and shipping, the rear includes a truck well with an 8' x 8' overhead door. The front exterior has been recently painted, and interior updating has recently been completed.
The combination of dedicated office space and conditioned storage/work areas is well-suited for tenants seeking a functional live-work style arrangement within a single building.
Key Highlights
- 4,973 SF office‑flex building with heated and cooled interior space throughout
- Includes front lobby/office, private office, large conditioned storage, and large work room
- Two half‑baths plus a break room for tenant/staff use
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
$27,775
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
6.94%
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%
$555,500
$555.5K
Cap Rate 7%
$396,786
$396.8K
Cap Rate 9%
$308,611
$308.6K
Market Conditions
NOI Build-Up for 4,973 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
$46.5K $9.36/SF
− Vacancy
−$3.8K −$0.77/SF
EGI
$42.7K $8.59/SF
− OpEx
−$15.0K −$3.01/SF
NOI
$27.8K $5.59/SF
Area
Dougherty County, GA
Vacancy
8.20%
Lease Rate
$9.36 /SF/Yr
Expense Ratio
35.00%
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%
$555,500
Cap Rate 7%
$396,786
Cap Rate 9%
$308,611
Alternative Uses
Best Use
Flex RnD
$396.8K
$347.2K – $462.9K
NOI $27,775 @ 7.0% cap · market cap 6.94%
Second Best
Warehouse
$355.0K
$310.6K – $414.1K
NOI $24,847 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$978.7K
$856.4K – $1.14M
NOI $68,508 @ 7.0% cap · market cap 17.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,261
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 31701, GA
18,133
Population
9,535
Households
1.9
Avg Household Size
39
Median Age
17%
College-Educated
81%
High-School Grad
21.2 sq mi
ZIP Area
855
Density / Sq Mi
$32,902
Median Household Income
$31,489
Median Earnings
$812
Median Rent
$97,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Heated and cooled office-flex building includes conditioned storage, work room, and rear truck well with an 8' x 8' door.
Where is this flex space located?
The property is located at 415 Flint Avenue Albany, GA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 4,973 SF office‑flex building with heated and cooled interior space throughout; Includes front lobby/office, private office, large conditioned storage, and large work room; Two half‑baths plus a break room for tenant/staff use
