Office Building in Historic
For Sale
$1,999,000
139 N Main Street, Jonesboro, GA 30236
COMMERCIAL - Jonesboro, GA
Property Size9,385 SF
Lot Size1.01 Acres
Price / SF$212
Days on Market195
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: Aug 7
Last Checked: Aug 9 at 2:06AM
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, this 9385-square-foot brick building dates to 1964 and was formerly used as a bank. Interior finishes include tile, concrete, and carpet, with central heating and central air. The property also includes a parking lot, an accessible approach with ramp, public water, and public sewer.
The building sits within Downtown Jonesboro’s Historic District and is zoned H-1. Its setting includes county offices, courts, civic institutions, local businesses, and arts and cultural activity. A remaining long-term lease provides an existing income stream, while any future reuse or alterations must be evaluated against City of Jonesboro zoning and historic-design requirements.
The building sits within Downtown Jonesboro’s Historic District and is zoned H-1. Its setting includes county offices, courts, civic institutions, local businesses, and arts and cultural activity. A remaining long-term lease provides an existing income stream, while any future reuse or alterations must be evaluated against City of Jonesboro zoning and historic-design requirements.
Key Highlights
- 9385‑square‑foot former bank building on a 1.007‑acre property
- Located at 139 N Main Street in Downtown Jonesboro’s Historic District
- Zoned H‑1 (Historic District)
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
861
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
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 - Brick construction, on-site parking, and adaptable interior space support professional reuse subject to H-1 requirements.
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 former bank building on a 1.007‑acre property; Located at 139 N Main Street in Downtown Jonesboro’s Historic District; Zoned H‑1 (Historic District)
