Historic Downtown Office
For Sale
$1,999,000
139 N Main Street, Jonesboro, GA 30236
Commercial Sale, Jonesboro, GA
Property Size9,385 SF
Lot Size1.01 Acres
Price / SF$212
Days on Market240
Property Features for 139 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
57
Parking features
Parking Lot
Accessibility
Accessible Approach with Ramp
Lot features
City Lot, Corner Lot, Level, Near Public Transit
Directions
**From Downtown Atlanta (Approx. 25-30 minutes) Take I-75 South toward Macon Continue on I-75 S for approximately 15 miles Take Exit 233 for GA-54/Jonesboro Road Turn left onto GA-54 East (Jonesboro Road) Continue approximately 1.5 miles into Downtown Jonesboro Turn left onto North Main Street Property is located at 139 N Main Street, near the Clayton County Courthouse **From Hartsfield-Jackson Atlanta International Airport (Approx. 20-25 minutes) Exit airport following signs for I-75 North / I-85 North Merge onto I-75 North toward Atlanta Continue approximately 7-8 miles Take Exit 233 for GA-54/Jonesboro Road Turn right onto GA-54 East (Jonesboro Road) Continue approximately 1.5 miles into Downtown Jonesboro Turn left onto North Main Street Property is located at 139 N Main Street, Jonesboro, GA 30236
Standard status
Active
APN
13241B B004
Size
9,385 SF
Lot size
1.01 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
24760
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Flooring type
Tile, Concrete, Carpet
Building materials
Brick
Listing Agency:
The Real Estate Gallery of Georgia
(770) 217-7518
Listed By:
Altimese L Dees
(678) 644-1712
Added: Jan 26
Changed: Sep 12
Last Checked: Sep 23 at 9:06AM
MLS# 10821111
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 139 N Main Street in Jonesboro, Georgia, this 9385-square-foot office building occupies a 1.007-acre site within the Downtown Jonesboro Historic District. Built in 1964, the brick structure includes tile, concrete, and carpet flooring, along with central heating and central air conditioning. A parking lot and accessible ramp approach support day-to-day use, while public water and public sewer serve the property.
The building is positioned near county offices, courts, civic institutions, local businesses, and downtown arts and cultural activity. H-1 zoning applies, and the existing property includes a remaining long-term lease income stream. Potential future configurations may include offices, education or training, medical, nonprofit, gallery, restaurant, entertainment, or mixed-use concepts, subject to applicable zoning and historic-district design requirements.
The building is positioned near county offices, courts, civic institutions, local businesses, and downtown arts and cultural activity. H-1 zoning applies, and the existing property includes a remaining long-term lease income stream. Potential future configurations may include offices, education or training, medical, nonprofit, gallery, restaurant, entertainment, or mixed-use concepts, subject to applicable zoning and historic-district design requirements.
Key Highlights
- 9385‑square‑foot office building on a 1.007‑acre site
- 139 N Main Street location within Downtown Jonesboro's Historic District
- H‑1 (Historic District) zoning
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
$125,675
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
6.29%
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%
$2,513,500
$2.5M
Cap Rate 7%
$1,795,357
$1.8M
Cap Rate 9%
$1,396,389
$1.4M
Market Conditions
NOI Build-Up for 9,385 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
$224.0K $23.87/SF
− Vacancy
−$56.5K −$6.02/SF
EGI
$167.6K $17.85/SF
− OpEx
−$41.9K −$4.46/SF
NOI
$125.7K $13.39/SF
Area
Clayton 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%
$2,513,500
Cap Rate 7%
$1,795,357
Cap Rate 9%
$1,396,389
Alternative Uses
Best Use
Office B
$1.80M
$1.57M – $2.09M
NOI $125,675 @ 7.0% cap · market cap 6.29%
Second Best
Mixed Use
$1.63M
$1.43M – $1.90M
NOI $114,028 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$2.62M
$2.30M – $3.06M
NOI $183,643 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
930
Businesses Nearby
Explore this area
Business Placement
Demographics for 30236, GA
50,446
Population
19,230
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
84%
High-School Grad
32.4 sq mi
ZIP Area
1,557
Density / Sq Mi
$68,867
Median Household Income
$36,501
Median Earnings
$1,233
Median Rent
$219,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - H-1-zoned office property with brick construction, central systems, parking, and an existing lease income stream.
Where is this office building located?
The property is located at 139 N Main Street Jonesboro, GA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 9385‑square‑foot office building on a 1.007‑acre site; 139 N Main Street location within Downtown Jonesboro's Historic District; H‑1 (Historic District) zoning
