Renovated Two-Story Office
New
For Sale
$1,150,000
2037 Grayson Highway, Grayson, GA 30017
Classic architectural details, a flexible office layout, and detached storage support a range of professional business uses.
Property Size3,248 SF
Price / SF$354.06
Days on Market6
Property Features for 2037 Grayson Highway
General Information
Standard status
Active
Size
3,248 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$11,053
Amenities
Central air
Accessible Approach with Ramp
Accessible Doors
Accessible Entrance
Accessible Hallway(s)
Accessible Kitchen
Central Air Cooling
Composition Roof
Electric Cooling
Electric Heating
Hardwood Flooring
Level
Parking Lot
Building Details
Year Built
1897
Buildings
2
Stories
2
Construction
Southern-style
Listing Agency:
Keller Williams Realty Atl. Partners
(800) 351-7469
Listed By:
Doug Minton · License #338899
Source:
Corcoran
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 10 at 5:11AM
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 Keller Williams Realty Atl. Partners
Investment Insights
Based on property information with market context.
Built in 1897, this two-story office property combines classic Southern-style architecture with updated commercial functionality. The 3,248+-square-foot building is currently configured for professional office use, with three offices, a kitchen, break area, and two restrooms on the main floor, plus four offices and a bathroom upstairs. Interior improvements include refreshed hardwood flooring, updated light fixtures, custom ceiling trim, designer wallpaper, stone countertops, and electrical, plumbing, and roof updates. A detached storage building provides additional utility, while the wraparound porch, mature landscaping, and stately columns contribute to the property's distinctive appearance.
The property occupies just over 1+ acre at 2037 Grayson Highway in Grayson, Georgia. It connects to Grayson's Park and is within walking distance of The Railyard, Kroger, restaurants, boutique shops, and multiple strip centers. The site also includes substantial parking and offers access to a commercial corridor with surrounding community activity.
The property occupies just over 1+ acre at 2037 Grayson Highway in Grayson, Georgia. It connects to Grayson's Park and is within walking distance of The Railyard, Kroger, restaurants, boutique shops, and multiple strip centers. The site also includes substantial parking and offers access to a commercial corridor with surrounding community activity.
Key Highlights
- 3,248+-square‑foot office building on just over 1+ acre
- Two‑story layout with 7 offices, kitchen, break area, and 3 bathrooms
- Recently renovated with roof, electrical, plumbing, flooring, and finish updates
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
$47,093
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
4.10%
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%
$941,860
$941.9K
Cap Rate 7%
$672,757
$672.8K
Cap Rate 9%
$523,256
$523.3K
Market Conditions
NOI Build-Up for 3,248 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
$87.7K $27.00/SF
− Vacancy
−$9.2K −$2.84/SF
EGI
$78.5K $24.17/SF
− OpEx
−$31.4K −$9.67/SF
NOI
$47.1K $14.50/SF
Area
Gwinnett County, GA
Vacancy
10.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$941,860
Cap Rate 7%
$672,757
Cap Rate 9%
$523,256
Alternative Uses
Best Use
Healthcare Medical
$672.8K
$588.7K – $784.9K
NOI $47,093 @ 7.0% cap · market cap 4.10%
Second Best
Office B
$621.3K
$543.7K – $724.9K
NOI $43,494 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$907.9K
$794.5K – $1.06M
NOI $63,556 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
Explore this area
Business Placement
Demographics for 30017, GA
24,642
Population
8,097
Households
3
Avg Household Size
40
Median Age
42%
College-Educated
92%
High-School Grad
11.6 sq mi
ZIP Area
2,124
Density / Sq Mi
$95,654
Median Household Income
$55,386
Median Earnings
$1,878
Median Rent
$392,200
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?
Office building - Classic architectural details, a flexible office layout, and detached storage support a range of professional business uses.
Where is this office building located?
The property is located at 2037 Grayson Highway Grayson, GA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,248+-square‑foot office building on just over 1+ acre; Two‑story layout with 7 offices, kitchen, break area, and 3 bathrooms; Recently renovated with roof, electrical, plumbing, flooring, and finish updates
