Brick Professional Office
New
For Sale
$499,000
1651 Thompson Bridge Road, Gainesville, GA 30501
Commercial Sale, Gainesville, GA
Property Size1,796 SF
Lot Size0.62 Acres
Price / SF$277.84
Days on Market3
Property Features for 1651 Thompson Bridge Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Accessibility
Accessible Approach with Ramp
Lot features
City Lot
Directions
Use GPS address: 1651 Thompson Bridge Road, Gainesville, GA 30501. Property is located on Thompson Bridge Road.
Standard status
Active
APN
01091 003014
Size
1,796 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4600
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1938
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
Keller Williams Lanier Partners · Keller Williams Realty
(770) 503-7070
Listed By:
Matthew Meeks
(706) 839-7355
Added: Sep 30
Last Checked: Oct 2 at 3:06PM
MLS# 10855817
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,796-square-foot brick office property sits on 0.62 acre and dates to 1938. Its layout includes five offices, a reception room, a full kitchen, and 1.5 bathrooms. Furniture and a generator are included. The building has hardwood flooring, central heating and air conditioning, and a ramped accessible approach.
At 1651 Thompson Bridge Road in Gainesville, the property has access to downtown, restaurants, banks, and shopping. O-I Office Institutional zoning applies. A parking lot serves the site, and public water and sewer are available.
At 1651 Thompson Bridge Road in Gainesville, the property has access to downtown, restaurants, banks, and shopping. O-I Office Institutional zoning applies. A parking lot serves the site, and public water and sewer are available.
Key Highlights
- 1,796‑square‑foot brick office building on 0.62 acre
- Five offices plus a reception room and full kitchen
- 1.5 bathrooms
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
$24,060
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
4.82%
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%
$481,200
$481.2K
Cap Rate 7%
$343,714
$343.7K
Cap Rate 9%
$267,333
$267.3K
Market Conditions
NOI Build-Up for 1,796 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
$42.9K $23.88/SF
− Vacancy
−$10.8K −$6.02/SF
EGI
$32.1K $17.86/SF
− OpEx
−$8.0K −$4.47/SF
NOI
$24.1K $13.40/SF
Area
Hall County, GA
Vacancy
25.20%
Lease Rate
$23.88 /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%
$481,200
Cap Rate 7%
$343,714
Cap Rate 9%
$267,333
Alternative Uses
Best Use
Office B
$343.7K
$300.8K – $401.0K
NOI $24,060 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$503.0K
$440.1K – $586.8K
NOI $35,208 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 30501, GA
29,779
Population
12,916
Households
2.3
Avg Household Size
33
Median Age
21%
College-Educated
71%
High-School Grad
21.9 sq mi
ZIP Area
1,360
Density / Sq Mi
$58,214
Median Household Income
$33,299
Median Earnings
$1,152
Median Rent
$249,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Office building - Five offices, a reception room, a full kitchen, and an accessible entrance support a professional workspace.
Where is this office building located?
The property is located at 1651 Thompson Bridge Road Gainesville, GA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,796‑square‑foot brick office building on 0.62 acre; Five offices plus a reception room and full kitchen; 1.5 bathrooms
