M-2 Zoned Office
For Sale
$2,570,000
132 Byrd Way, Warner Robins, GA 31088
Office property with M-2 zoning, parking, and current partial occupancy.
Property Size9,588 SF
Price / SF$268.04
Days on Market34
Property Features for 132 Byrd Way
General Information
Standard status
Active
Size
9,588 SF
Zoning
M-2
Occupancy
40%
Additional Details
Highway Access
Yes
Building Details
Year Built
2016
Buildings
1
Building Size
9,588 SF
Listing Agency:
CBC Metro Brokers
(404) 921-4274
Listed By:
Alex Velasco · License #375385
Source:
Brockteam
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 28 at 12:53PM
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 CBC Metro Brokers
Investment Insights
Based on property information with market context.
This 9,588-square-foot office building at 132 Byrd Way was constructed in 2016 and carries M-2 zoning. The property is currently 40% occupied and includes on-site parking, providing an existing office configuration with additional leasable capacity.
The building is located in Warner Robins, Georgia, with access to major transportation routes and nearby shopping, dining, and essential services. The surrounding area includes the Museum of Aviation, Houston Lake Country Club, and Robins Air Force Base. Commercial, residential, and recreational uses are also represented in the broader area.
The building is located in Warner Robins, Georgia, with access to major transportation routes and nearby shopping, dining, and essential services. The surrounding area includes the Museum of Aviation, Houston Lake Country Club, and Robins Air Force Base. Commercial, residential, and recreational uses are also represented in the broader area.
Key Highlights
- 9,588 SF office building constructed in 2016
- M‑2 zoning
- Current occupancy of 40%
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
$100,478
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
3.91%
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%
$2,009,560
$2.0M
Cap Rate 7%
$1,435,400
$1.4M
Cap Rate 9%
$1,116,422
$1.1M
Market Conditions
NOI Build-Up for 9,588 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
$163.4K $17.04/SF
− Vacancy
−$29.4K −$3.07/SF
EGI
$134.0K $13.97/SF
− OpEx
−$33.5K −$3.49/SF
NOI
$100.5K $10.48/SF
Area
Houston County, GA
Vacancy
18.00%
Lease Rate
$17.04 /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%
$2,009,560
Cap Rate 7%
$1,435,400
Cap Rate 9%
$1,116,422
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.67M
NOI $100,478 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.07M
$1.81M – $2.41M
NOI $144,860 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
40%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,457
Businesses Nearby
Explore this area
Business Placement
Demographics for 31088, GA
57,034
Population
24,167
Households
2.4
Avg Household Size
36
Median Age
36%
College-Educated
94%
High-School Grad
29.4 sq mi
ZIP Area
1,940
Density / Sq Mi
$81,507
Median Household Income
$44,764
Median Earnings
$1,224
Median Rent
$189,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office property with M-2 zoning, parking, and current partial occupancy.
Where is this office building located?
The property is located at 132 Byrd Way Warner Robins, GA.
What is the asking price?
The asking price for this property is $2,570,000.
What are key features of this property?
This property features: 9,588 SF office building constructed in 2016; M‑2 zoning; Current occupancy of 40%
