Downtown Office Suite with Conversion
1602 W Cleveland Avenue Unit GEORGIA East Point, GA 30344
For Sale
$349,900
Office suite offering flexible layout with potential conversion to retail or other commercial uses, subject to approvals.
Property Size1,296 SF
Price / SF$269.98
Days on Market8
Property Features for 1602 W Cleveland Avenue Unit GEORGIA
General Information
Standard status
Active
Size
1,296 SF
Property subtype
Other
Building Details
Year Built
1920
Listing Agency:
Keller Knapp, Inc
(770) 310-0532
Listed By:
Dany Craig
(770) 310-0532
Source:
Blackstreaminternational
Added: Jul 23
Changed: Jul 26
Last Checked: Jul 30 at 6:16AM
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 Keller Knapp, Inc
Investment Insights
Based on property information with market context.
This commercial property is currently being used as an office and features a flexible floor plan that may support continued office use or conversion to retail or other commercial uses, subject to applicable approvals.
Positioned in the heart of downtown East Point, the property is located directly across from East Point City Hall, just off Main Street, and steps from the MARTA station. The setting offers strong pedestrian traffic and visibility among established restaurants, shops, and local businesses. A planned mixed-use development across the street is expected to bring additional activity to the area.
Positioned in the heart of downtown East Point, the property is located directly across from East Point City Hall, just off Main Street, and steps from the MARTA station. The setting offers strong pedestrian traffic and visibility among established restaurants, shops, and local businesses. A planned mixed-use development across the street is expected to bring additional activity to the area.
Key Highlights
- Year built 1920 commercial property currently used as an office
- Flexible floor plan suitable for continued office use or conversion to retail/other commercial uses (subject to approvals)
- Located directly across from East Point City Hall, just off Main Street
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.9k | $23.87 |
| − Vacancy | −$7.8k | −$6.02 |
| EGI | $23.1k | $17.85 |
| − OpEx | −$5.8k | −$4.46 |
| NOI | $17.4k | $13.39 |
1,296 SF · lease $23.87/SF/yr · vacancy 25.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$247.9K
$216.9K – $289.3K
NOI $17,355 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$362.3K
$317.0K – $422.7K
NOI $25,360 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Office suite offering flexible layout with potential conversion to retail or other commercial uses, subject to approvals.
Where is this office units located?
The property is located at 1602 W Cleveland Avenue Unit GEORGIA East Point, GA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Year built 1920 commercial property currently used as an office; Flexible floor plan suitable for continued office use or conversion to retail/other commercial uses (subject to approvals); Located directly across from East Point City Hall, just off Main Street
