Mixed-Use Property with
For Sale
Contact for pricing
Pending
24 Hwy 293, Cartersville, GA 30120
Two-level building combines office space, a residence, and a separately accessed apartment.
Property Size2,080 SF
Lot Size1.00 Acre
Days on Market779
Property Features for 24 Hwy 293
General Information
Standard status
Pending
Size
2,080 SF
Total Parking Spaces
2
Lot size
1.00 Acre
Property subtype
Mixed Use, Retail, Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
Main Level
Amenities
commercial-grade septic system
in-ground grease trap
ample on-site parking
Building Details
Year Built
1950
Buildings
1
Owner Occupied
Yes
Listing Agency:
Atlanta Communities Real Estate Brokerage
(678) 800-9883
Listed By:
Joe Smith
Source:
Crexi
Added: Jul 13, 2024
Changed: Aug 30
Last Checked: Aug 30 at 12:40AM
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 Atlanta Communities Real Estate Brokerage
Investment Insights
Based on property information with market context.
This mixed-use property includes a 2,080-square-foot building constructed in 1950. The main level is configured for office use and a personal residence, while the upper floor contains a private apartment with its own access. The building previously operated as a restaurant and retains a commercial-grade septic system and in-ground grease trap that support food-service functionality.
The approximately 1-acre site sits at the intersection of Hwy 293 and Cassville Rd. On-site parking accommodates customers, occupants, employees, or equipment. The property also includes a billboard land lease, creating an additional site component alongside the building and apartment.
The approximately 1-acre site sits at the intersection of Hwy 293 and Cassville Rd. On-site parking accommodates customers, occupants, employees, or equipment. The property also includes a billboard land lease, creating an additional site component alongside the building and apartment.
Key Highlights
- 2,080‑square‑foot mixed‑use building constructed in 1950
- Approximately 1‑acre site at Hwy 293 and Cassville Rd
- Upper‑level private apartment with separate access
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
$27,853
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
6.96%
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%
$557,060
$557.1K
Cap Rate 7%
$397,900
$397.9K
Cap Rate 9%
$309,478
$309.5K
Market Conditions
NOI Build-Up for 2,080 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
$49.6K $23.87/SF
− Vacancy
−$12.5K −$6.02/SF
EGI
$37.1K $17.85/SF
− OpEx
−$9.3K −$4.46/SF
NOI
$27.9K $13.39/SF
Area
Bartow County, GA
Vacancy
25.20%
Lease Rate
$23.87 /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%
$557,060
Cap Rate 7%
$397,900
Cap Rate 9%
$309,478
Alternative Uses
Best Use
Office B
$397.9K
$348.2K – $464.2K
NOI $27,853 @ 7.0% cap · market cap 6.96%
Second Best
Mixed Use
$392.2K
$343.2K – $457.6K
NOI $27,456 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$584.1K
$511.1K – $681.4K
NOI $40,884 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Explore this area
Business Placement
Demographics for 30120, GA
42,702
Population
16,778
Households
2.5
Avg Household Size
39
Median Age
25%
College-Educated
89%
High-School Grad
93.0 sq mi
ZIP Area
459
Density / Sq Mi
$83,892
Median Household Income
$44,948
Median Earnings
$1,205
Median Rent
$276,200
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?
Mixed-use property - Two-level building combines office space, a residence, and a separately accessed apartment.
Where is this mixed-use property located?
The property is located at 24 Hwy 293 Cartersville, GA.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 2,080‑square‑foot mixed‑use building constructed in 1950; Approximately 1‑acre site at Hwy 293 and Cassville Rd; Upper‑level private apartment with separate access
