Office Units with Reception
For Sale
Contact for pricing
Pending
1505 Lafayette Pkwy, Lagrange, GA 30241
Flexible office layout includes private rooms, reception space, and a substantial waiting area.
Property Size3,557 SF
Days on Market190
Property Features for 1505 Lafayette Pkwy
General Information
Standard status
Pending
Size
3,557 SF
Property subtype
Office
Zoning
16- CR-MX
Building Details
Year Built
1989
Buildings
1
Stories
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
Re/Max Results
Listed By:
Upchurch Brothers Property Group · License #GA 202341
Source:
Crexi
Added: Feb 23
Changed: Aug 31
Last Checked: Aug 30 at 10:07PM
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 Re/Max Results
Investment Insights
Based on property information with market context.
These office units were built in 1989 and are arranged around 10 offices, a reception area, and a large waiting area. The interior configuration can be adapted to accommodate different operational requirements. The offering is for the real estate only; the operating business is not included. The current tenant is expected to vacate by the end of June at the latest.
The property is located at 1505 Lafayette Pkwy in LaGrange, Georgia, within zoning designation 16- CR-MX. Showings are available during business hours only.
The property is located at 1505 Lafayette Pkwy in LaGrange, Georgia, within zoning designation 16- CR-MX. Showings are available during business hours only.
Key Highlights
- 10‑office configuration with reception and waiting areas
- Interior layout can be modified for different operational requirements
- Built in 1989
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
$41,594
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
3.08%
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%
$831,880
$831.9K
Cap Rate 7%
$594,200
$594.2K
Cap Rate 9%
$462,156
$462.2K
Market Conditions
NOI Build-Up for 3,557 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
$60.6K $17.04/SF
− Vacancy
−$5.2K −$1.45/SF
EGI
$55.5K $15.59/SF
− OpEx
−$13.9K −$3.90/SF
NOI
$41.6K $11.69/SF
Area
Troup County, GA
Vacancy
8.50%
Lease Rate
$17.04 /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%
$831,880
Cap Rate 7%
$594,200
Cap Rate 9%
$462,156
Alternative Uses
Best Use
Office B
$594.2K
$519.9K – $693.2K
NOI $41,594 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$795.9K
$696.4K – $928.5K
NOI $55,712 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 30241, GA
25,509
Population
10,433
Households
2.4
Avg Household Size
37
Median Age
18%
College-Educated
88%
High-School Grad
112.4 sq mi
ZIP Area
227
Density / Sq Mi
$47,988
Median Household Income
$34,411
Median Earnings
$1,077
Median Rent
$167,600
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 units - Flexible office layout includes private rooms, reception space, and a substantial waiting area.
Where is this office units located?
The property is located at 1505 Lafayette Pkwy Lagrange, GA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 10‑office configuration with reception and waiting areas; Interior layout can be modified for different operational requirements; Built in 1989
