Freestanding Flex
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2002 GORDON HWY, Augusta, GA 30909
Freestanding commercial property combining office, retail, and warehouse functionality with B-2 zoning.
Property Size3,000 SF
Lot Size0.34 Acres
Price / SF$91.67
Days on Market6
Property Features for 2002 GORDON HWY
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.34 Acres
Property subtype
Retail, Industrial
Zoning
B-2
Site & Location
Traffic Count
26,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
1,500 SF
Office Build-Out
1,500 SF
Drive-In Doors
1
Building Details
Buildings
1
Building Size
3,000 SF
Listing Agency:
Meybohm Commercial
Listed By:
Charlie Moye · License #GA/SC
(706) 736-0700
Source:
Crexi
Added: Sep 15
Changed: Sep 19
Last Checked: Sep 19 at 6:21AM
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 Meybohm Commercial
Investment Insights
Based on property information with market context.
This freestanding flex property contains approximately 3,000 SF, divided between about 1,500 SF of office and retail area and 1,500 SF of warehouse space. A 10' x 10' grade-level door supports warehouse access, while the building’s mixed configuration accommodates both customer-facing and operational functions. The property occupies approximately 0.34 acres and is zoned B-2 by Richmond County, allowing a variety of general business uses.
Located at 2002 Gordon Hwy in Augusta, GA, the building sits at the signalized intersection of Gordon Highway and Sibley Road, with approximately 26,500 VPD. Access to Bobby Jones Expressway (I-520) and Interstate 20 connects the property with surrounding areas throughout the CSRA.
Located at 2002 Gordon Hwy in Augusta, GA, the building sits at the signalized intersection of Gordon Highway and Sibley Road, with approximately 26,500 VPD. Access to Bobby Jones Expressway (I-520) and Interstate 20 connects the property with surrounding areas throughout the CSRA.
Key Highlights
- Approximately 3,000 SF freestanding flex building
- Approximately 1,500 SF of office/retail space and 1,500 SF of warehouse space
- 10' x 10' grade‑level door
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
$22,934
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
8.34%
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%
$458,680
$458.7K
Cap Rate 7%
$327,629
$327.6K
Cap Rate 9%
$254,822
$254.8K
Market Conditions
NOI Build-Up for 3,000 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
$29.5K $9.84/SF
− Vacancy
−$2.5K −$0.85/SF
EGI
$27.0K $8.99/SF
− OpEx
−$4.0K −$1.35/SF
NOI
$22.9K $7.64/SF
Area
Augusta, GA
Vacancy
8.60%
Lease Rate
$9.84 /SF/Yr
Expense Ratio
15.00%
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%
$458,680
Cap Rate 7%
$327,629
Cap Rate 9%
$254,822
Alternative Uses
Best Use
Retail
$477.4K
$417.8K – $557.0K
NOI $33,420 @ 7.0% cap · market cap 12.15%
Second Best
Flex RnD
$365.0K
$319.4K – $425.9K
NOI $25,553 @ 7.0% cap · market cap 9.29%
Theoretical Best
Office A
$946.9K
$828.6K – $1.10M
NOI $66,284 @ 7.0% cap · market cap 24.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Drive-in doors
26,500 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30909, GA
48,181
Population
24,005
Households
2
Avg Household Size
35
Median Age
40%
College-Educated
93%
High-School Grad
25.5 sq mi
ZIP Area
1,889
Density / Sq Mi
$67,710
Median Household Income
$41,812
Median Earnings
$1,196
Median Rent
$237,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding commercial property combining office, retail, and warehouse functionality with B-2 zoning.
Where is this flex space located?
The property is located at 2002 GORDON HWY Augusta, GA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Approximately 3,000 SF freestanding flex building; Approximately 1,500 SF of office/retail space and 1,500 SF of warehouse space; 10' x 10' grade‑level door
