Building Details

Year Built 1910

Buildings 1

Listing Agency: Prosperity Real Estate Group Show Phone

Listed By: Kacie Edwards

Source: Broadandmainrealestate

Added: Jul 21 Changed: Aug 28 Last Checked: Aug 25 at 4:11AM

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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 Prosperity Real Estate Group

Investment Insights

Based on property information with market context.

This 1,080-square-foot storefront property was built in 1910 and has undergone renovation with updated interior finishes, a new roof, and refreshed exterior presentation. The configuration supports administrative office or retail use, with the improvements positioned for occupancy without requiring a major initial update.

The building is located at 116 S Talbotton St in downtown Greenville, Georgia, at an intersection described as carrying substantial pedestrian and vehicle activity. Its central setting and storefront format provide a practical foundation for businesses seeking a visible commercial presence in the downtown area.

Key Highlights

• 1,080 SF storefront building
• Renovated with updated interiors and premium finishes
• New roof included among recent improvements

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

$15,191

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

9.05%

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%

$303,820 $303.8K

Cap Rate 7%

$217,014 $217.0K

Cap Rate 9%

$168,789 $168.8K

Market Conditions

NOI Build-Up for 1,080 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

$23.7K $21.96/SF

− Vacancy

−$2.0K −$1.87/SF

EGI

$21.7K $20.09/SF

− OpEx

−$6.5K −$6.03/SF

NOI

$15.2K $14.07/SF

Area

Meriwether County, GA

Vacancy

8.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

30.00%

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%

$303,820

Cap Rate 7%

$217,014

Cap Rate 9%

$168,789

Alternative Uses

Best Use

Retail

$217.0K

$189.9K – $253.2K (±1% cap)

NOI $15,191 @ 7.0% cap · market cap 9.05%

Second Best

Office B

$206.6K

$180.8K – $241.0K (±1% cap)

NOI $14,462 @ 7.0% cap · market cap 8.61%

Theoretical Best

Office A

$301.9K

$264.2K – $352.2K (±1% cap)

NOI $21,133 @ 7.0% cap · market cap 12.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Garden Center (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Barber Shop Real Estate Agency Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

159

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 30222, GA

4,143

Population

2,091

Households

2

Avg Household Size

47

Median Age

10%

College-Educated

80%

High-School Grad

150.7 sq mi

ZIP Area

27

Density / Sq Mi

$63,281

Median Household Income

$38,690

Median Earnings

$857

Median Rent

$115,700

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Updated interiors and a new roof support office or retail occupancy.

Where is this storefront property located?

The property is located at 116 S Talbotton St Greenville, GA.

What is the asking price?

The asking price for this property is $167,900.

What are key features of this property?

This property features: 1,080 SF storefront building; Renovated with updated interiors and premium finishes; New roof included among recent improvements