Freestanding Office
For Sale
$499,000
4537 Covington Hwy, Decatur, GA 30035
Single-unit professional property with OI zoning and office-related use potential.
Property Size2,748 SF
Price / SF$181.59
Days on Market10
Property Features for 4537 Covington Hwy
General Information
Standard status
Active
Size
2,748 SF
Property subtype
Office
Zoning
OI
Additional Details
Office Units
1
Building Details
Building Size
2,748 SF
Year Built
1952
Buildings
1
Tenancy
Single
Listing Agency:
(678) 320-4800
Listed By:
Quinton Dothard · License #426895
(678) 320-4800
Source:
Cbcworldwide
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 31 at 12:34PM
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 Quinton Dothard
Investment Insights
Based on property information with market context.
This freestanding commercial building contains 2,748 SF and is configured as a single-unit office property. Constructed in 1952, the asset offers a compact standalone format for professional occupancy rather than a larger multi-tenant arrangement.
The OI zoning supports office and institutional-related occupancy, subject to applicable regulations and approvals. The existing configuration may accommodate office, medical, dental, or other professional service uses, providing flexibility for an owner-user or investor evaluating a smaller commercial asset.
The OI zoning supports office and institutional-related occupancy, subject to applicable regulations and approvals. The existing configuration may accommodate office, medical, dental, or other professional service uses, providing flexibility for an owner-user or investor evaluating a smaller commercial asset.
Key Highlights
- 2,748 SF freestanding office building
- Single‑unit configuration
- OI zoning for office and institutional‑related occupancy
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
$39,843
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
7.98%
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%
$796,860
$796.9K
Cap Rate 7%
$569,186
$569.2K
Cap Rate 9%
$442,700
$442.7K
Market Conditions
NOI Build-Up for 2,748 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
$74.2K $27.00/SF
− Vacancy
−$7.8K −$2.84/SF
EGI
$66.4K $24.17/SF
− OpEx
−$26.6K −$9.67/SF
NOI
$39.8K $14.50/SF
Area
DeKalb County, GA
Vacancy
10.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$796,860
Cap Rate 7%
$569,186
Cap Rate 9%
$442,700
Alternative Uses
Best Use
Healthcare Medical
$569.2K
$498.0K – $664.1K
NOI $39,843 @ 7.0% cap · market cap 7.98%
Second Best
Office B
$525.7K
$460.0K – $613.3K
NOI $36,799 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$768.2K
$672.2K – $896.2K
NOI $53,772 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 30035, GA
22,671
Population
8,731
Households
2.6
Avg Household Size
36
Median Age
26%
College-Educated
90%
High-School Grad
8.5 sq mi
ZIP Area
2,667
Density / Sq Mi
$65,733
Median Household Income
$34,246
Median Earnings
$1,522
Median Rent
$217,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-unit professional property with OI zoning and office-related use potential.
Where is this office building located?
The property is located at 4537 Covington Hwy Decatur, GA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,748 SF freestanding office building; Single‑unit configuration; OI zoning for office and institutional‑related occupancy
