Flex Space with On-Site
For Sale
$850,000
503 Memorial Drive, Dallas, GA 30132
Commercial space with unfinished renovations, paved access, and flexibility for retail, office, restaurant, or warehouse operations.
Property Size6,993 SF
Price / SF$121.55
Days on Market499
Property Features for 503 Memorial Drive
General Information
Standard status
Active
Size
6,993 SF
Property subtype
General Commercial
Zoning
C
Property Condition
Severity
Repairs Needed
Evidence
renovations are incomplete
Taxes and HOA fees
Annual Taxes
$3,437
Amenities
3
Tar Gravel
Parking.
30 Parking Spaces. Paved Driveway, Lot.
1.2699999809265137
In City.
Building Details
Year Built
1966
Listing Agency:
LOCAL Realty
(404) 787-0659
Listed By:
Boyd Monk · License #364614
(404) 787-0659
Source:
Xome
Added: Apr 20, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:45PM
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 LOCAL Realty
Investment Insights
Based on property information with market context.
This flex-space property contains commercial improvements dating to 1966 and is undergoing incomplete renovations. The interior can accommodate several business formats identified in the property information, including retail, office, restaurant, drive-through, and office/warehouse uses. Final work may be tailored to specifications through an arrangement with the seller.
The property is in the Downtown Dallas Rural Zone and carries C zoning. Site features include a paved driveway, a 30-space parking area, and approximately 1.2699999809265137 acres in the city. Potential eligibility for state income tax credit programs is also noted, including job, rehabilitation, and investment incentives.
The property is in the Downtown Dallas Rural Zone and carries C zoning. Site features include a paved driveway, a 30-space parking area, and approximately 1.2699999809265137 acres in the city. Potential eligibility for state income tax credit programs is also noted, including job, rehabilitation, and investment incentives.
Key Highlights
- Flex‑space property with C zoning
- Renovations are incomplete, allowing final work to be tailored through an arrangement with the seller
- 30 Parking Spaces with paved driveway
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
$42,600
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
5.01%
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%
$852,000
$852.0K
Cap Rate 7%
$608,571
$608.6K
Cap Rate 9%
$473,333
$473.3K
Market Conditions
NOI Build-Up for 6,993 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
$66.3K $9.48/SF
− Vacancy
−$5.4K −$0.78/SF
EGI
$60.9K $8.70/SF
− OpEx
−$18.3K −$2.61/SF
NOI
$42.6K $6.09/SF
Area
Paulding County, GA
Vacancy
8.20%
Lease Rate
$9.48 /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%
$852,000
Cap Rate 7%
$608,571
Cap Rate 9%
$473,333
Alternative Uses
Best Use
Retail
$1.41M
$1.23M – $1.64M
NOI $98,359 @ 7.0% cap · market cap 11.57%
Second Best
Industrial
$608.6K
$532.5K – $710.0K
NOI $42,600 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,454 @ 7.0% cap · market cap 16.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30132, GA
46,580
Population
18,016
Households
2.6
Avg Household Size
35
Median Age
28%
College-Educated
93%
High-School Grad
102.4 sq mi
ZIP Area
455
Density / Sq Mi
$102,800
Median Household Income
$48,262
Median Earnings
$1,514
Median Rent
$332,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial space with unfinished renovations, paved access, and flexibility for retail, office, restaurant, or warehouse operations.
Where is this flex space located?
The property is located at 503 Memorial Drive Dallas, GA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Flex‑space property with C zoning; Renovations are incomplete, allowing final work to be tailored through an arrangement with the seller; 30 Parking Spaces with paved driveway
