Three-Level Class B Office
For Sale
$725,500
1551 Jennings Mill Rd, Watkinsville, GA 30677
Commercial Sale, Watkinsville, GA
Property Size3,200 SF
Lot Size0.03 Acres
Price / SF$226.72
Days on Market97
Property Features for 1551 Jennings Mill Rd
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
4
Appliances
Electric Water Heater
Directions
Resource Valley office complex. Pull into the complex off Jennings Mill Rd, take an immediate left until it dead ends, then take a left. Building is on your right, unit 1400B.
Standard status
Active
APN
C 01P 014B
Size
3,200 SF
Lot size
0.03 Acres
Additional Details
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Tax Description
x
HOA Fee
$1,134 Monthly
Legal Description
x
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1998
Floors in Building
3
Building materials
Brick
Listing Agency:
Virtual Properties Realty
(770) 495-5050
Listed By:
Jacob Blickenstaff · License #384940
(404) 281-5002
Added: Jul 31
Changed: Oct 31
Last Checked: Nov 4 at 11:06AM
MLS# CL361905
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,200-square-foot Class B office unit occupies three levels, with 1,200 square feet on the lower level and 2,000 square feet across the main and second floors. The layout includes modern finishes, flexible workspace configurations, and ample natural light. Built in 1998, the property features brick construction, central air, central electric heating, public water, and a septic tank.
The unit is located at 1551 Jennings Mill Rd in Watkinsville, along Jennings Mill Road and near Epps Bridge Parkway, GA 316, and downtown Athens. Retail, dining, and residential development are identified in the surrounding Oconee County context. The property is 100% leased to a single tenant, with approximately 4.5 years remaining on a 5-year lease and 4% annual rent escalations established in the lease terms.
The unit is located at 1551 Jennings Mill Rd in Watkinsville, along Jennings Mill Road and near Epps Bridge Parkway, GA 316, and downtown Athens. Retail, dining, and residential development are identified in the surrounding Oconee County context. The property is 100% leased to a single tenant, with approximately 4.5 years remaining on a 5-year lease and 4% annual rent escalations established in the lease terms.
Key Highlights
- 3,200 SF Class B professional office unit across three levels
- 1,200 SF lower level plus 2,000 SF on the main and second floors
- 100% leased to a single tenant with approximately 4.5 years remaining on a 5‑year lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,420
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,400
$828.4K
Cap Rate 7%
$591,714
$591.7K
Cap Rate 9%
$460,222
$460.2K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$69.1K $21.60/SF
− Vacancy
−$13.9K −$4.34/SF
EGI
$55.2K $17.26/SF
− OpEx
−$13.8K −$4.31/SF
NOI
$41.4K $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 Rate 5%
$828,400
Cap Rate 7%
$591,714
Cap Rate 9%
$460,222
Alternative Uses
Best Use
Office B
$591.7K
$517.8K – $690.3K
NOI $41,420 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$771.4K
$675.0K – $900.0K
NOI $54,000 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
741
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Three-level professional office unit with natural light, modern finishes, and an in-place single-tenant lease.
Where is this office unit located?
The property is located at 1551 Jennings Mill Rd Watkinsville, GA.
What is the asking price?
The asking price for this property is $725,500.
What are key features of this property?
This property features: 3,200 SF Class B professional office unit across three levels; 1,200 SF lower level plus 2,000 SF on the main and second floors; 100% leased to a single tenant with approximately 4.5 years remaining on a 5‑year lease
