Accessible End-Unit Office
For Sale
$155,000
1551 Jennings Mill Road #2800C, Watkinsville, GA 30677
Single-level suite includes private offices, reception space, storage, and an ADA-accessible restroom.
Property Size698 SF
Price / SF$222.06
Days on Market42
Property Features for 1551 Jennings Mill Road #2800C
General Information
Standard status
Active
Size
698 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,121
Amenities
crown molding
vaulted ceilings
large arched windows
handicap accessibility
ceiling fan
Central air
Corner Lot
Accessible Approach with Ramp
Accessible Entrance
Accessible Hallway(s)
Business Park
Carpet Flooring
Central Air Cooling
Central Heating
Composition Roof
Parking Lot
Building Details
Year Built
1997
Construction
brick
Listing Agency:
LPT Realty
Listed By:
Timothy Carithers
Source:
Corcoran
Added: Aug 10
Changed: Sep 19
Last Checked: Sep 20 at 7:32AM
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 LPT Realty
Investment Insights
Based on property information with market context.
This 698 SF office condo is arranged as a single-level end unit with two private offices, a reception area, a filing and storage room, and one restroom. Large arched windows bring natural light into the front reception area, which also features vaulted ceilings. Crown molding, carpet flooring, and a ceiling fan add to the finished interior, while the restroom includes an accessibility grab bar.
The property is located at 1551 Jennings Mill Road #2800C in Watkinsville, with access to Epps Bridge Parkway, GA 316, and downtown Athens. Shared parking serves the professional office community. Built in 1997, the suite offers a compact layout for office, consultation, or professional service use.
The property is located at 1551 Jennings Mill Road #2800C in Watkinsville, with access to Epps Bridge Parkway, GA 316, and downtown Athens. Shared parking serves the professional office community. Built in 1997, the suite offers a compact layout for office, consultation, or professional service use.
Key Highlights
- 698 SF single‑level office condo
- Two private offices plus reception, storage, and restroom areas
- End‑unit position with large arched windows and vaulted reception ceiling
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
$9,035
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
5.83%
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%
$180,700
$180.7K
Cap Rate 7%
$129,071
$129.1K
Cap Rate 9%
$100,389
$100.4K
Market Conditions
NOI Build-Up for 698 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
$15.1K $21.60/SF
− Vacancy
−$3.0K −$4.34/SF
EGI
$12.0K $17.26/SF
− OpEx
−$3.0K −$4.31/SF
NOI
$9.0K $12.94/SF
Area
Oconee County, GA
Vacancy
20.10%
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%
$180,700
Cap Rate 7%
$129,071
Cap Rate 9%
$100,389
Alternative Uses
Best Use
Office B
$129.1K
$112.9K – $150.6K
NOI $9,035 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$168.3K
$147.2K – $196.3K
NOI $11,779 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 30677, GA
20,579
Population
7,797
Households
2.6
Avg Household Size
41
Median Age
55%
College-Educated
97%
High-School Grad
122.2 sq mi
ZIP Area
168
Density / Sq Mi
$103,165
Median Household Income
$49,399
Median Earnings
$1,403
Median Rent
$394,800
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 - Single-level suite includes private offices, reception space, storage, and an ADA-accessible restroom.
Where is this office units located?
The property is located at 1551 Jennings Mill Road #2800C Watkinsville, GA.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: 698 SF single‑level office condo; Two private offices plus reception, storage, and restroom areas; End‑unit position with large arched windows and vaulted reception ceiling
