Commercial Site with Expansion
For Sale
Contact for pricing
199 & 201 E Clinton St, Gray, GA 31032
Commercial site in Gray, GA, includes building and expansion land.
Property Size1,404 SF
Price / SF$284.19
Days on Market177
Property Features for 199 & 201 E Clinton St
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Office, Land
Zoning
C-2
Building Details
Year Built
1979
Buildings
1
Stories
1
Listing Agency:
Bull Realty
(404) 876-1640
Listed By:
Brice Burns · License #GA 417450
Source:
Crexi
Added: Feb 27
Changed: Aug 22
Last Checked: Aug 22 at 5:08AM
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 Bull Realty
Investment Insights
Based on property information with market context.
This commercial site, located in Gray, GA, includes a building and additional land suitable for expansion. The property encompasses 1404 square feet and is intended for commercial use.
Key Highlights
- Commercial site, perfect for your business venture
- Includes a building, ready for immediate use or renovation
- Expansion land available, offering future growth potential
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
$13,748
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
3.45%
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%
$274,960
$275.0K
Cap Rate 7%
$196,400
$196.4K
Cap Rate 9%
$152,756
$152.8K
Market Conditions
NOI Build-Up for 1,404 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
$27.0K $19.20/SF
− Vacancy
−$8.6K −$6.14/SF
EGI
$18.3K $13.06/SF
− OpEx
−$4.6K −$3.26/SF
NOI
$13.7K $9.79/SF
Area
Jones County, GA
Vacancy
32.00%
Lease Rate
$19.20 /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%
$274,960
Cap Rate 7%
$196,400
Cap Rate 9%
$152,756
Alternative Uses
Best Use
Office B
$196.4K
$171.9K – $229.1K
NOI $13,748 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$268.6K
$235.0K – $313.4K
NOI $18,802 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Explore this area
Business Placement
Demographics for 31032, GA
14,261
Population
5,716
Households
2.5
Avg Household Size
41
Median Age
19%
College-Educated
94%
High-School Grad
159.3 sq mi
ZIP Area
90
Density / Sq Mi
$73,598
Median Household Income
$43,050
Median Earnings
$1,013
Median Rent
$192,400
Median Home Value
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?
Commercial land - Commercial site in Gray, GA, includes building and expansion land.
Where is this commercial land located?
The property is located at 199 & 201 E Clinton St Gray, GA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Commercial site, perfect for your business venture; Includes a building, ready for immediate use or renovation; Expansion land available, offering future growth potential
