Freestanding Flex Space with Drive-In
New
For Sale
Contact for pricing
165 COILE DR, Athens, GA 30606
C_G zoning and an open interior support office, warehouse, contractor, fitness, and other commercial configurations.
Property Size6,540 SF
Lot Size1.91 Acres
Price / SF$252.29
Days on Market5
Property Features for 165 COILE DR
General Information
Standard status
Active
Size
6,540 SF
Class
A
Total Parking Spaces
20
Lot size
1.91 Acres
Property subtype
Retail, Office, Industrial
Zoning
C_G
Investment Type
Value Add
Warehouse & Industrial
Clear Span
Yes
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Built
2003
Buildings
1
Stories
1
Units
1
Building Size
6,540 SF
Owner Occupied
No
Listing Agency:
Stirling Real Estate Advisors
(762) 999-0800
Listed By:
Dane Henderson · License #GA 428292
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 8:29AM
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 Stirling Real Estate Advisors
Investment Insights
Based on property information with market context.
This freestanding flex property contains 6,540 square feet on a 1.91-acre parcel and was built in 2003. The vacant building features an open interior, high warehouse ceilings, and one large roll-up drive-in door. Its prior use as a fitness facility and flexible layout provide a foundation for contractor operations, fleet-related uses, professional office conversion, fitness, martial arts, or indoor sports training, subject to applicable approvals.
The property is located at 165 Coile Drive in Athens, behind the Atlanta Highway commercial corridor and directly adjacent to a Publix-anchored shopping center. Target, The Home Depot, Lowe's, Chick-fil-A, and Westside commercial car dealerships are identified among the surrounding businesses. Athens Commerce Park, described as a 100+ acre business hub, is minutes away and connects directly to Highway 316 for routes toward the Atlanta market.
The property is located at 165 Coile Drive in Athens, behind the Atlanta Highway commercial corridor and directly adjacent to a Publix-anchored shopping center. Target, The Home Depot, Lowe's, Chick-fil-A, and Westside commercial car dealerships are identified among the surrounding businesses. Athens Commerce Park, described as a 100+ acre business hub, is minutes away and connects directly to Highway 316 for routes toward the Atlanta market.
Key Highlights
- 6,540 SF freestanding flex building on 1.91 acres
- C_G zoning designation
- Constructed in 2003
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
$84,652
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
5.13%
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%
$1,693,040
$1.7M
Cap Rate 7%
$1,209,314
$1.2M
Cap Rate 9%
$940,578
$940.6K
Market Conditions
NOI Build-Up for 6,540 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
$141.3K $21.60/SF
− Vacancy
−$28.4K −$4.34/SF
EGI
$112.9K $17.26/SF
− OpEx
−$28.2K −$4.31/SF
NOI
$84.7K $12.94/SF
Area
Athens, 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%
$1,693,040
Cap Rate 7%
$1,209,314
Cap Rate 9%
$940,578
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,652 @ 7.0% cap · market cap 5.13%
Second Best
Warehouse
$685.8K
$600.1K – $800.2K
NOI $48,009 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,362 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30606, GA
46,798
Population
22,603
Households
2.1
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
30.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$61,397
Median Household Income
$35,854
Median Earnings
$1,222
Median Rent
$332,600
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - C_G zoning and an open interior support office, warehouse, contractor, fitness, and other commercial configurations.
Where is this flex space located?
The property is located at 165 COILE DR Athens, GA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 6,540 SF freestanding flex building on 1.91 acres; C_G zoning designation; Constructed in 2003
