End-Unit Office
New
For Sale
$160,000
1551 Jennings Mill Road, Watkinsville, GA 30677
Single-level suite includes private offices, reception, storage, and an ADA-accessible restroom.
Property Size1,997 SF
Price / SF$229.23
Days on Market5
Property Features for 1551 Jennings Mill Road
General Information
Standard status
Active
Size
1,997 SF
Property subtype
Other
Additional Details
Road Access
Yes
Office Units
1
Amenities
vaulted ceilings
large arched windows
handicap accessibility
ADA-accessible restroom
crown molding
carpet flooring
ceiling fan
0.02 acres, Business Park, Corner Lot
Composition
Septic Tank
Annual Amount: $1,121, Year: 2025
Carpet
Central Air
Central
Cumulative Days on Market: 1, First day on market, On Market Date: 2026-08-10
Community Structure, Parking Lot
Built in 1997, Brick
County: Oconee
Resale
Electricity Available, High Speed Internet, Phone Available, Water Available, Public
Close Of Escrow
Accessible Approach with Ramp, Accessible Entrance, Accessible Hallway(s)
Building Details
Building Size
1,997 SF
Year Built
1997
Stories
1
Construction
brick
Tenancy
Single
Listing Agency:
Real Broker, LLC
(706) 818-0813
Listed By:
Timothy Carithers
(706) 818-0813
Source:
Blackstreaminternational
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 13 at 3:41AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 698 SF office condo is a single-level end unit with two private offices, a reception area, a dedicated storage room, and an ADA-accessible restroom with grab bar. The interior includes vaulted ceilings, arched windows, crown molding, carpet flooring, and a ceiling fan. Built in 1997, the suite provides a compact professional layout for office-based use.
The property is located at 1551 Jennings Mill Road in Watkinsville, with access to Epps Bridge Parkway, GA 316, and downtown Athens. Shared parking serves the office community, and the suite is positioned near retail, dining, and the Oconee County residential base.
The property is located at 1551 Jennings Mill Road in Watkinsville, with access to Epps Bridge Parkway, GA 316, and downtown Athens. Shared parking serves the office community, and the suite is positioned near retail, dining, and the Oconee County residential base.
Key Highlights
- 698 SF end‑unit office condo at 1551 Jennings Mill Road
- Two private offices plus reception, storage, and restroom areas
- Single‑level layout with ADA‑accessible restroom and grab bar
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
5.65%
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
Healthcare Medical
$129.2K
$113.1K – $150.8K
NOI $9,046 @ 7.0% cap · market cap 5.65%
Second Best
Office B
$129.1K
$112.9K – $150.6K
NOI $9,035 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$168.3K
$147.2K – $196.3K
NOI $11,779 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
741
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Single-level suite includes private offices, reception, storage, and an ADA-accessible restroom.
Where is this office units located?
The property is located at 1551 Jennings Mill Road Watkinsville, GA.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 698 SF end‑unit office condo at 1551 Jennings Mill Road; Two private offices plus reception, storage, and restroom areas; Single‑level layout with ADA‑accessible restroom and grab bar
