Two-Building Flex Industrial
For Sale
Contact for pricing
121 Bells Ferry Ln, Marietta, GA 30066
Two flex buildings on one parcel, with one rented and one vacant, conveniently located near major interstates.
Property Size27,590 SF
Lot Size2.27 Acres
Price / SF$143.17
Days on Market458
Property Features for 121 Bells Ferry Ln
General Information
Standard status
Active
Size
27,590 SF
Lot size
2.27 Acres
Property subtype
INDUSTRIAL
Additional Details
Business Included
No
Highway Access
Yes
Listing Agency:
Bull Realty, Inc. - Atlanta
(404) 876-1640
Listed By:
Austin Bull
Source:
Moodyscre
Added: May 11, 2025
Changed: Aug 8
Last Checked: Aug 8 at 10:50AM
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 Bull Realty, Inc. - Atlanta
Investment Insights
Based on property information with market context.
This two-building flex industrial property totals 27,590 SF on one 1.27-acre tax parcel. Building 121 is currently rented, while building 131 is vacant and available for an owner-occupant purchaser or a tenant seeking space within the same flex configuration.
The property is positioned in the northwest Atlanta area in the City of Marietta, within the Atlanta MSA. It is described as convenient to I-75, I-575, Cobb Parkway, and Barrett Parkway.
Available arrangements may be considered for an owner-occupant approach with one building vacant, or for investors evaluating a multi-building flex setup with an in-place tenant in the other building.
The property is positioned in the northwest Atlanta area in the City of Marietta, within the Atlanta MSA. It is described as convenient to I-75, I-575, Cobb Parkway, and Barrett Parkway.
Available arrangements may be considered for an owner-occupant approach with one building vacant, or for investors evaluating a multi-building flex setup with an in-place tenant in the other building.
Key Highlights
- Two‑building flex industrial property totals 27,590 SF on a single 1.27‑acre tax parcel
- Building 121 is rented
- Building 131 is vacant and available for an owner‑occupant purchaser or tenant
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
$202,534
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
5.13%
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%
$4,050,680
$4.1M
Cap Rate 7%
$2,893,343
$2.9M
Cap Rate 9%
$2,250,378
$2.3M
Market Conditions
NOI Build-Up for 27,590 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
$261.6K $9.48/SF
− Vacancy
−$23.3K −$0.84/SF
EGI
$238.3K $8.64/SF
− OpEx
−$35.7K −$1.30/SF
NOI
$202.5K $7.34/SF
Area
Cobb County, GA
Vacancy
8.90%
Lease Rate
$9.48 /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%
$4,050,680
Cap Rate 7%
$2,893,343
Cap Rate 9%
$2,250,378
Alternative Uses
Best Use
Warehouse
$2.89M
$2.53M – $3.38M
NOI $202,534 @ 7.0% cap · market cap 5.13%
Second Best
Industrial
$2.40M
$2.10M – $2.80M
NOI $168,074 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$7.75M
$6.78M – $9.04M
NOI $542,309 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30066, GA
62,417
Population
23,632
Households
2.6
Avg Household Size
38
Median Age
53%
College-Educated
95%
High-School Grad
27.2 sq mi
ZIP Area
2,295
Density / Sq Mi
$112,067
Median Household Income
$57,687
Median Earnings
$1,760
Median Rent
$373,500
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 - Two flex buildings on one parcel, with one rented and one vacant, conveniently located near major interstates.
Where is this flex space located?
The property is located at 121 Bells Ferry Ln Marietta, GA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Two‑building flex industrial property totals 27,590 SF on a single 1.27‑acre tax parcel; Building 121 is rented; Building 131 is vacant and available for an owner‑occupant purchaser or tenant
