Storefront
For Sale
$495,000
14 E Johnston Street, Forsyth, GA 31029
Built in 1921, the property supports professional office or retail use in a walkable downtown setting.
Property Size1,921 SF
Price / SF$209.39
Days on Market8
Property Features for 14 E Johnston Street
General Information
Standard status
Active
Size
1,921 SF
Property subtype
Other
Amenities
Business Park
Public Sewer
Annual Amount: $709, Year: 2021
Central Air
Central
Cumulative Days on Market: 4, 4 days on market, On Market Date: 2026-09-16
On Street, Paved
Built in 1921, Brick
County: Monroe
Resale
Electricity Available, High Speed Internet, Phone Available, Water Available, Public
Close Of Escrow
Building Details
Building Size
1,921 SF
Year Built
1921
Listing Agency:
SouthSide, REALTORS
(770) 914-2122
Listed By:
Chad Tyler
(478) 731-7072
Source:
Blackstreaminternational
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 22 at 4:11PM
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 SouthSide, REALTORS
Investment Insights
Based on property information with market context.
This 2,364-square-foot storefront property was built in 1921 and offers a flexible commercial layout for professional office or retail occupancy. Its established building character and adaptable use profile suit businesses seeking a presence in an active central district.
The property is located at 14 E Johnston Street in Forsyth, within walking distance of local dining and shopping. The historic courthouse square is nearby, and I-75 is less than one mile away, providing convenient regional access.
The property is located at 14 E Johnston Street in Forsyth, within walking distance of local dining and shopping. The historic courthouse square is nearby, and I-75 is less than one mile away, providing convenient regional access.
Key Highlights
- 2,364‑square‑foot storefront property
- Built in 1921
- Professional office or retail use
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
$23,148
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
4.68%
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%
$462,960
$463.0K
Cap Rate 7%
$330,686
$330.7K
Cap Rate 9%
$257,200
$257.2K
Market Conditions
NOI Build-Up for 2,364 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
$45.4K $19.20/SF
− Vacancy
−$14.5K −$6.14/SF
EGI
$30.9K $13.06/SF
− OpEx
−$7.7K −$3.26/SF
NOI
$23.1K $9.79/SF
Area
Monroe County, GA
Vacancy
32.00%
Lease Rate
$19.20 /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%
$462,960
Cap Rate 7%
$330,686
Cap Rate 9%
$257,200
Alternative Uses
Best Use
Office B
$330.7K
$289.4K – $385.8K
NOI $23,148 @ 7.0% cap · market cap 4.68%
Second Best
Retail
$321.4K
$281.2K – $374.9K
NOI $22,495 @ 7.0% cap · market cap 4.54%
Theoretical Best
Healthcare Medical
$452.3K
$395.7K – $527.7K
NOI $31,659 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 31029, GA
17,440
Population
7,006
Households
2.5
Avg Household Size
40
Median Age
26%
College-Educated
91%
High-School Grad
243.7 sq mi
ZIP Area
72
Density / Sq Mi
$79,529
Median Household Income
$40,249
Median Earnings
$884
Median Rent
$226,300
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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Similar Off Market Nearby
- Flowers By Helen — 9 W Johnston St, Forsyth, GA 31029
Frequently Asked Questions
What type of property is this?
Storefront property - Built in 1921, the property supports professional office or retail use in a walkable downtown setting.
Where is this storefront property located?
The property is located at 14 E Johnston Street Forsyth, GA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,364‑square‑foot storefront property; Built in 1921; Professional office or retail use
