Freestanding Restaurant with Rooftop
For Sale
Contact for pricing
1550 Oglethorpe Ave, Athens, GA 30606
Renovated hospitality property with dining, kitchen, bar, lounge, and office areas.
Property Size3,711 SF
Lot Size0.25 Acres
Price / SF$229.05
Days on Market193
Property Features for 1550 Oglethorpe Ave
General Information
Standard status
Active
Size
3,711 SF
Class
B
Total Parking Spaces
20
Lot size
0.25 Acres
Property subtype
Retail
Zoning
C-N
Investment Type
Owner/User
Site & Location
Frontage
78 ft
Highway Access
Yes
Road Access
Yes
Restaurant
Patio
Yes
Equipment Included
Yes
Building Details
Year Built
1968
Year Renovated
2021
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Atlas Real Estate Advisors
Listed By:
Chris Blackmon · License #GA 218395
Source:
Crexi
Added: Feb 20
Changed: Aug 31
Last Checked: Aug 29 at 7:37PM
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 Atlas Real Estate Advisors
Investment Insights
Based on property information with market context.
This freestanding restaurant property contains ±3,711 SF on a 0.25-acre parcel and was renovated in 2021. The existing layout includes a dining room, separate prep and grill kitchens, private office, bar and lounge area, and a 900 SF rooftop patio that expands the available seating and event space. Built in 1968, the building is configured for restaurant and bar operations and includes established hospitality improvements.
The property sits along a commercial corridor in Athens, GA, near Loop 10 Exit 15, with 78 feet of frontage. C-N zoning is in place. The site has also been identified for potential professional office, medical, showroom, or retail conversion, providing flexibility beyond its current restaurant configuration.
The property sits along a commercial corridor in Athens, GA, near Loop 10 Exit 15, with 78 feet of frontage. C-N zoning is in place. The site has also been identified for potential professional office, medical, showroom, or retail conversion, providing flexibility beyond its current restaurant configuration.
Key Highlights
- ±3,711 SF freestanding building on a 0.25‑acre parcel
- 900 SF rooftop patio for additional seating and events
- Renovated in 2021; original building constructed in 1968
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
$55,309
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
6.51%
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%
$1,106,180
$1.1M
Cap Rate 7%
$790,129
$790.1K
Cap Rate 9%
$614,544
$614.5K
Market Conditions
NOI Build-Up for 3,711 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
$80.2K $21.60/SF
− Vacancy
−$6.4K −$1.73/SF
EGI
$73.7K $19.87/SF
− OpEx
−$18.4K −$4.97/SF
NOI
$55.3K $14.90/SF
Area
Athens, GA
Vacancy
8.00%
Lease Rate
$21.60 /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%
$1,106,180
Cap Rate 7%
$790,129
Cap Rate 9%
$614,544
Alternative Uses
Best Use
Specialty Retail
$790.1K
$691.4K – $921.8K
NOI $55,309 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$894.6K
$782.8K – $1.04M
NOI $62,623 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30606, GA
46,798
Population
22,603
Households
2.1
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
30.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$61,397
Median Household Income
$35,854
Median Earnings
$1,222
Median Rent
$332,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated hospitality property with dining, kitchen, bar, lounge, and office areas.
Where is this conventional restaurant located?
The property is located at 1550 Oglethorpe Ave Athens, GA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: ±3,711 SF freestanding building on a 0.25‑acre parcel; 900 SF rooftop patio for additional seating and events; Renovated in 2021; original building constructed in 1968
