Historic Two-Story Creative
For Sale
$1,000,000
15800 Birmingham Hwy Ste 400, Milton, GA 30004
Renovated C1-zoned office setting with preserved historic character and a single professional workspace.
Property Size2,656 SF
Price / SF$376.51
Days on Market193
Property Features for 15800 Birmingham Hwy Ste 400
General Information
Standard status
Active
Size
2,656 SF
Class
B
Property subtype
Single Tenant Office
Zoning
C1
Additional Details
Road Access
Yes
Office Units
1
Building Details
Building Size
2,656 SF
Year Built
1865
Year Renovated
2018
Buildings
1
Stories
2
Properties For Sale
at 15800 Birmingham Hwy Ste 400 Contact us- Size
- 2,656 SF
- Lease Type
- NNN
15800 Birmingham Hwy, Building 400
Listing Agency:
Powell Property Group
(404) 618-0605
Listed By:
Stephanie Krank
(404) 618-0605
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 12:32AM
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 Powell Property Group
Investment Insights
Based on property information with market context.
This two-story creative office property occupies 2,656 SF in a historic building originally constructed in 1865 and renovated in 2018. The improvements include new flooring, paint, and lighting, while the building’s period character remains intact. One unit provides a defined professional setting within the property.
The building is part of Birmingham Village, a seven-building office and retail development in Milton’s historic business district. It sits at the intersection of Birmingham Road and Birmingham Highway, with Chase Bank identified as an on-site anchor. The property is approximately one mile north of White Columns and near schools, dining, and cultural attractions.
C1 zoning supports the property’s stated office and retail context. The combination of preserved historic design, updated interior finishes, and village-style surroundings creates a distinctive setting for professional operations.
The building is part of Birmingham Village, a seven-building office and retail development in Milton’s historic business district. It sits at the intersection of Birmingham Road and Birmingham Highway, with Chase Bank identified as an on-site anchor. The property is approximately one mile north of White Columns and near schools, dining, and cultural attractions.
C1 zoning supports the property’s stated office and retail context. The combination of preserved historic design, updated interior finishes, and village-style surroundings creates a distinctive setting for professional operations.
Key Highlights
- 2,656 SF two‑story creative office property
- Originally built in 1865 and renovated in 2018
- Updated with new flooring, paint, and lighting
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
$35,567
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
3.56%
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%
$711,340
$711.3K
Cap Rate 7%
$508,100
$508.1K
Cap Rate 9%
$395,189
$395.2K
Market Conditions
NOI Build-Up for 2,656 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
$63.4K $23.87/SF
− Vacancy
−$16.0K −$6.02/SF
EGI
$47.4K $17.85/SF
− OpEx
−$11.9K −$4.46/SF
NOI
$35.6K $13.39/SF
Area
Fulton County, GA
Vacancy
25.20%
Lease Rate
$23.87 /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%
$711,340
Cap Rate 7%
$508,100
Cap Rate 9%
$395,189
Alternative Uses
Best Use
Office B
$508.1K
$444.6K – $592.8K
NOI $35,567 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$742.5K
$649.7K – $866.2K
NOI $51,972 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 30004, GA
68,607
Population
25,485
Households
2.7
Avg Household Size
37
Median Age
72%
College-Educated
95%
High-School Grad
57.9 sq mi
ZIP Area
1,185
Density / Sq Mi
$147,996
Median Household Income
$82,818
Median Earnings
$1,839
Median Rent
$583,700
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?
Creative space - Renovated C1-zoned office setting with preserved historic character and a single professional workspace.
Where is this creative space located?
The property is located at 15800 Birmingham Hwy Ste 400 Milton, GA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 2,656 SF two‑story creative office property; Originally built in 1865 and renovated in 2018; Updated with new flooring, paint, and lighting
