Flex Space with Grade Level Drive-In
For Sale
$975,000
3640 Hewatt Court, Snellville, GA 30039
Flex space with grade-level drive-in warehouse doors, mezzanine storage, and office space with breakrooms and conference rooms.
Property Size5,000 SF
Days on Market24
Property Features for 3640 Hewatt Court
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Industrial
Building Details
Building Size
5,000 SF
Listing Agency:
(404) 942-2084
Listed By:
Avani Patel
Source:
Corfac
Added: Jul 30
Changed: Aug 15
Last Checked: Aug 22 at 4:18AM
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 Avani Patel
Investment Insights
Based on property information with market context.
Flex space with a total of 5,000± SF, including 950± SF warehouse area and mezzanine storage above the office area. The office portion is laid out with 12 offices, two breakrooms, and two conference rooms, plus a reception area and customer lounge. Warehouse features include grade level drive-in doors sized 12' x 12' and an 18' ceiling height. On the power side, the space has 200 amps and 120/240 volts. HVAC is provided by three HVAC units.
For day-to-day operations, there is fenced outside storage. The property is located at 3640 Hewatt Court in Snellville, GA 30039.
For day-to-day operations, there is fenced outside storage. The property is located at 3640 Hewatt Court in Snellville, GA 30039.
Key Highlights
- Total 5,000± SF flex space with 950± SF warehouse plus mezzanine storage above the office
- 12 offices, two breakrooms, and two conference rooms with reception and customer lounge
- Grade level drive‑in doors sized 12' x 12'
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
$36,704
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
3.76%
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%
$734,080
$734.1K
Cap Rate 7%
$524,343
$524.3K
Cap Rate 9%
$407,822
$407.8K
Market Conditions
NOI Build-Up for 5,000 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
$47.4K $9.48/SF
− Vacancy
−$4.2K −$0.84/SF
EGI
$43.2K $8.64/SF
− OpEx
−$6.5K −$1.30/SF
NOI
$36.7K $7.34/SF
Area
Gwinnett 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%
$734,080
Cap Rate 7%
$524,343
Cap Rate 9%
$407,822
Alternative Uses
Best Use
Warehouse
$524.3K
$458.8K – $611.7K
NOI $36,704 @ 7.0% cap · market cap 3.76%
Second Best
Industrial
$435.1K
$380.7K – $507.7K
NOI $30,459 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,838 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30039, GA
48,933
Population
16,463
Households
3
Avg Household Size
37
Median Age
36%
College-Educated
92%
High-School Grad
25.3 sq mi
ZIP Area
1,934
Density / Sq Mi
$90,500
Median Household Income
$42,449
Median Earnings
$1,850
Median Rent
$274,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Chef Shola — 2236 Hewatt Rd, Snellville, GA 30039
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with grade-level drive-in warehouse doors, mezzanine storage, and office space with breakrooms and conference rooms.
Where is this flex space located?
The property is located at 3640 Hewatt Court Snellville, GA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Total 5,000± SF flex space with 950± SF warehouse plus mezzanine storage above the office; 12 offices, two breakrooms, and two conference rooms with reception and customer lounge; Grade level drive‑in doors sized 12' x 12'
