Building Details

Year Built 2024

Units 2

Listing Agency: Brittany Purcell & Associates | Keller Williams Realty Greater Athens PLACE

Listed By: Brittany Purcell · License #GA 324606 Show Phone

Source: Crexi

Added: Nov 1, 2024 Changed: Oct 6 Last Checked: Oct 9 at 7:34PM

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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 Brittany Purcell & Associates | Keller Williams Realty Greater Athens PLACE

Investment Insights

Based on property information with market context.

Located in Athens Clarke County, 161 Fritz Mar is a new industrial project zoned "I" within the ACC TAD district. The project includes five 4,000 sq ft buildings and one 7,200 sq ft building divided into two units. This listing is for a 4,000 sq ft turn-key shell building (building 400 in the site plan). The shell building features metal construction with a brick front, two front entry doors, and two dock-high roll-up doors. The buildings are insulated and include a 4" sewer stub, a 3/4" water line, and electrical service with a meter base. Sidewalks and landscaping will be developed by the seller. Interior plumbing, electrical, and HVAC are not included. The building is currently under construction and is expected to be delivered by year-end.

Key Highlights

• New industrial project in Athens Clarke County with 'I' zoning.
• Turn‑key 4000 sq ft shell building (Building 400) available.
• Located in the ACC TAD district.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,367

Cap Rate

3.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$487,340 $487.3K

Cap Rate 7%

$348,100 $348.1K

Cap Rate 9%

$270,744 $270.7K

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$37.9K $9.48/SF

− Vacancy

−$3.1K −$0.78/SF

EGI

$34.8K $8.70/SF

− OpEx

−$10.4K −$2.61/SF

NOI

$24.4K $6.09/SF

Area

Athens, GA

Vacancy

8.20%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$487,340

Cap Rate 7%

$348,100

Cap Rate 9%

$270,744

Alternative Uses

Best Use

Industrial

$348.1K

$304.6K – $406.1K (±1% cap)

NOI $24,367 @ 7.0% cap · market cap 3.43%

Second Best

Flex RnD

$333.1K

$291.5K – $388.6K (±1% cap)

NOI $23,317 @ 7.0% cap · market cap 3.28%

Theoretical Best

Office A

$964.3K

$843.8K – $1.13M (±1% cap)

NOI $67,500 @ 7.0% cap · market cap 9.51%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Garden Center Dental Office Carpet & Flooring Store Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

177

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 30607, GA

11,383

Population

4,504

Households

2.5

Avg Household Size

37

Median Age

36%

College-Educated

85%

High-School Grad

37.2 sq mi

ZIP Area

306

Density / Sq Mi

$63,727

Median Household Income

$35,972

Median Earnings

$1,012

Median Rent

$235,000

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - New industrial project with shell buildings for sale in Athens.

Where is this flex space located?

The property is located at 161 Fritz Mar Ln Athens, GA.

What is the asking price?

The asking price for this property is $710,000.

What are key features of this property?

This property features: New industrial project in Athens Clarke County with 'I' zoning.; Turn‑key 4000 sq ft shell building (Building 400) available.; Located in the ACC TAD district.