Industrial Facility with Cooler/Freezer
For Sale
$5,500,000
132 Royal Drive, Forest Park, GA 30297
Industrial building featuring cooler, freezer, and dry storage areas.
Property Size34,914 SF
Lot Size1.90 Acres
Price / SF$185.77
Days on Market164
Property Features for 132 Royal Drive
General Information
Standard status
Active
Size
34,914 SF
Lot size
1.90 Acres
Property subtype
Industrial
Building Details
Building Size
34,914 SF
Listing Agency:
King Industrial Realty Inc
(239) 908-7160
Listed By:
Bryan Marshburn, SIOR, CCIM · License #120640
(239) 908-7160
Source:
Kingindustrial
Added: Mar 6
Changed: Aug 14
Last Checked: Aug 17 at 5:07AM
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 King Industrial Realty Inc
Investment Insights
Based on property information with market context.
Located at the corner of Lake Mirror Place and Royal Drive, this brick and block building offers a total area of 34,906± square feet on a 1.90± acre lot. The property includes 2,800± square feet of office space, 7,568± square feet of cooler space, 3,910± square feet of freezer space, 15,347± square feet of dry area, and 5,381± square feet of cold production area. The building features clear heights ranging from 14 to 26 feet and is fully sprinklered. It is equipped with 8 dock doors and 1 drive-in ramped door, along with 3-phase heavy power. The property is zoned for heavy industrial use.
Key Highlights
- Existing cooler (7,568± sf) & freezer (3,910± sf) space
- Heavy industrial zoning
- Features 8 dock doors & 1 drive‑in ramped door
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
$217,333
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
3.95%
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%
$4,346,660
$4.3M
Cap Rate 7%
$3,104,757
$3.1M
Cap Rate 9%
$2,414,811
$2.4M
Market Conditions
NOI Build-Up for 29,606 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
$280.7K $9.48/SF
− Vacancy
−$25.0K −$0.84/SF
EGI
$255.7K $8.64/SF
− OpEx
−$38.4K −$1.30/SF
NOI
$217.3K $7.34/SF
Area
Clayton 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%
$4,346,660
Cap Rate 7%
$3,104,757
Cap Rate 9%
$2,414,811
Alternative Uses
Best Use
Warehouse
$3.10M
$2.72M – $3.62M
NOI $217,333 @ 7.0% cap · market cap 3.95%
Second Best
Industrial
$2.58M
$2.25M – $3.01M
NOI $180,355 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$8.28M
$7.24M – $9.66M
NOI $579,321 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Explore this area
Business Placement
Demographics for 30297, GA
29,669
Population
11,438
Households
2.6
Avg Household Size
33
Median Age
13%
College-Educated
75%
High-School Grad
11.0 sq mi
ZIP Area
2,697
Density / Sq Mi
$45,975
Median Household Income
$34,330
Median Earnings
$1,144
Median Rent
$121,400
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.
Frequently Asked Questions
What type of property is this?
Refrigerated & cold storage - Industrial building featuring cooler, freezer, and dry storage areas.
Where is this refrigerated & cold storage located?
The property is located at 132 Royal Drive Forest Park, GA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Existing cooler (7,568± sf) & freezer (3,910± sf) space; Heavy industrial zoning; Features 8 dock doors & 1 drive‑in ramped door
