C3 Office
For Sale
Contact for pricing
1532 Park Hill Drive NE, Gainesville, GA 30501
Established office property with rental use spanning more than a decade.
Property Size1,722 SF
Price / SF$345.53
Days on Market33
Property Features for 1532 Park Hill Drive NE
General Information
Standard status
Active
Size
1,722 SF
Total Parking Spaces
10
Property subtype
Office, Retail
Zoning
C3
Building Details
Year Built
2005
Buildings
1
Listing Agency:
Grindle Real Estate Group
(770) 826-9985
Listed By:
Josh Grindle
Source:
Crexi
Added: Jul 22
Changed: Aug 17
Last Checked: Aug 22 at 4:56PM
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 Grindle Real Estate Group
Investment Insights
Based on property information with market context.
This office building contains 1,722 square feet and was constructed in 2005. The property is zoned C3 and has operated as a rental for more than 10 years, providing an established occupancy history for an office-focused acquisition.
The property is located at 1532 Park Hill Drive NE in Gainesville, Georgia, near Northeast Georgia Hospital and other medical facilities. Its setting within a commercial and medical corridor places the building among nearby office development and healthcare uses.
The property is located at 1532 Park Hill Drive NE in Gainesville, Georgia, near Northeast Georgia Hospital and other medical facilities. Its setting within a commercial and medical corridor places the building among nearby office development and healthcare uses.
Key Highlights
- 1,722‑square‑foot office building
- Built in 2005
- C3 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
$23,069
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
3.88%
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%
$461,380
$461.4K
Cap Rate 7%
$329,557
$329.6K
Cap Rate 9%
$256,322
$256.3K
Market Conditions
NOI Build-Up for 1,722 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
$41.1K $23.88/SF
− Vacancy
−$10.4K −$6.02/SF
EGI
$30.8K $17.86/SF
− OpEx
−$7.7K −$4.47/SF
NOI
$23.1K $13.40/SF
Area
Hall County, GA
Vacancy
25.20%
Lease Rate
$23.88 /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%
$461,380
Cap Rate 7%
$329,557
Cap Rate 9%
$256,322
Alternative Uses
Best Use
Office B
$329.6K
$288.4K – $384.5K
NOI $23,069 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$482.2K
$422.0K – $562.6K
NOI $33,757 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 30501, GA
29,779
Population
12,916
Households
2.3
Avg Household Size
33
Median Age
21%
College-Educated
71%
High-School Grad
21.9 sq mi
ZIP Area
1,360
Density / Sq Mi
$58,214
Median Household Income
$33,299
Median Earnings
$1,152
Median Rent
$249,900
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 - Established office property with rental use spanning more than a decade.
Where is this office building located?
The property is located at 1532 Park Hill Drive NE Gainesville, GA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 1,722‑square‑foot office building; Built in 2005; C3 zoning
