Coca-Cola Flex Space
For Sale
$3,000,000
167 Greenville St, Newnan, GA 30263
Three-building flex space property with ample on-site parking in downtown Newnan.
Property Size23,994 SF
Price / SF$125.03
Days on Market51
Property Features for 167 Greenville St
General Information
Standard status
Active
Size
23,994 SF
Building Details
Year Built
1960
Listing Agency:
Bush Real Estate
Listed By:
Jeffery Avery · License #269138
(770) 252-0042
Source:
Eternorealtygroup
Added: Jul 20
Changed: Sep 8
Last Checked: Sep 5 at 5:49AM
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 Bush Real Estate
Investment Insights
Based on property information with market context.
Known as the Coca-Cola building, this flex space property comprises three buildings totaling 23,994 square feet. The improvements date to 1960 and are accompanied by ample parking, providing a substantial multi-building commercial layout.
The property is located at 167 Greenville St in downtown Newnan, Georgia, just south of Atlanta and off I-85. Its address places the asset within Newnan’s downtown setting while maintaining proximity to the interstate corridor.
The property is located at 167 Greenville St in downtown Newnan, Georgia, just south of Atlanta and off I-85. Its address places the asset within Newnan’s downtown setting while maintaining proximity to the interstate corridor.
Key Highlights
- 23,994‑square‑foot flex space property
- Three‑building commercial configuration
- Ample parking space included
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
$146,168
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
4.87%
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%
$2,923,360
$2.9M
Cap Rate 7%
$2,088,114
$2.1M
Cap Rate 9%
$1,624,089
$1.6M
Market Conditions
NOI Build-Up for 23,994 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
$227.5K $9.48/SF
− Vacancy
−$18.7K −$0.78/SF
EGI
$208.8K $8.70/SF
− OpEx
−$62.6K −$2.61/SF
NOI
$146.2K $6.09/SF
Area
Coweta County, 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 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%
$2,923,360
Cap Rate 7%
$2,088,114
Cap Rate 9%
$1,624,089
Alternative Uses
Best Use
Industrial
$2.09M
$1.83M – $2.44M
NOI $146,168 @ 7.0% cap · market cap 4.87%
Second Best
Flex RnD
$2.00M
$1.75M – $2.33M
NOI $139,867 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$6.71M
$5.87M – $7.83M
NOI $469,507 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30263, GA
60,467
Population
23,792
Households
2.5
Avg Household Size
38
Median Age
31%
College-Educated
89%
High-School Grad
198.2 sq mi
ZIP Area
305
Density / Sq Mi
$79,752
Median Household Income
$44,508
Median Earnings
$1,332
Median Rent
$278,200
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Three-building flex space property with ample on-site parking in downtown Newnan.
Where is this flex space located?
The property is located at 167 Greenville St Newnan, GA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 23,994‑square‑foot flex space property; Three‑building commercial configuration; Ample parking space included
