Three-Property Industrial
For Sale
Contact for pricing
1915 West Oakridge Drive, Albany, GA 31707
Freestanding sites across the Southeast are occupied by Cummins, Inc.
Property Size43,361 SF
Price / SF$125.69
Days on Market16
Property Features for 1915 West Oakridge Drive
General Information
Standard status
Active
Size
43,361 SF
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$292,640
Building Details
Year Built
1980
Year Renovated
2004
Buildings
3
Tenancy
Single
Listing Agency:
Northmarq Capital, LLC
Listed By:
Jason Powell · License #GA 313490
Source:
Crexi
Added: Jul 28
Changed: Aug 4
Last Checked: Aug 11 at 3:17PM
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 Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
This offering combines three freestanding industrial properties in a single portfolio transaction. The sites provide a combined footprint of over 8.5 acres and are leased to Cummins, Inc., a company focused on automotive engines and related equipment. The portfolio includes in-place occupancy with a weighted average lease term remaining of ± 45 months.
The properties are positioned in industrial markets across the southeastern United States. Cummins, Inc. operates internationally and has occupied the portfolio locations under the existing lease arrangements. The offering may suit private or institutional buyers seeking a multi-property industrial acquisition with one transaction and an established occupant.
The properties are positioned in industrial markets across the southeastern United States. Cummins, Inc. operates internationally and has occupied the portfolio locations under the existing lease arrangements. The offering may suit private or institutional buyers seeking a multi-property industrial acquisition with one transaction and an established occupant.
Key Highlights
- Three‑property industrial portfolio offered in a single transaction
- Leased to Cummins, Inc., which designs and manufactures automotive engines and related equipment
- Freestanding industrial locations across the southeastern United States
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
$170,825
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
3.13%
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%
$3,416,500
$3.4M
Cap Rate 7%
$2,440,357
$2.4M
Cap Rate 9%
$1,898,056
$1.9M
Market Conditions
NOI Build-Up for 43,361 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
$260.2K $6.00/SF
− Vacancy
−$16.1K −$0.37/SF
EGI
$244.0K $5.63/SF
− OpEx
−$73.2K −$1.69/SF
NOI
$170.8K $3.94/SF
Area
Dougherty County, GA
Vacancy
6.20%
Lease Rate
$6.00 /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%
$3,416,500
Cap Rate 7%
$2,440,357
Cap Rate 9%
$1,898,056
Alternative Uses
Best Use
Industrial
$2.44M
$2.14M – $2.85M
NOI $170,825 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.53M
$7.47M – $9.96M
NOI $597,341 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 31707, GA
24,623
Population
12,652
Households
1.9
Avg Household Size
38
Median Age
27%
College-Educated
88%
High-School Grad
18.4 sq mi
ZIP Area
1,338
Density / Sq Mi
$49,179
Median Household Income
$37,878
Median Earnings
$934
Median Rent
$131,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Freestanding sites across the Southeast are occupied by Cummins, Inc.
Where is this industrial property located?
The property is located at 1915 West Oakridge Drive Albany, GA.
What is the asking price?
The asking price for this property is $5,450,000.
What are key features of this property?
This property features: Three‑property industrial portfolio offered in a single transaction; Leased to Cummins, Inc., which designs and manufactures automotive engines and related equipment; Freestanding industrial locations across the southeastern United States
