Renovated Victorian Office
For Sale
$1,150,000
2037 Grayson Highway, Grayson, GA 30017
Commercial Sale, Grayson, GA
Property Size3,248 SF
Lot Size1.05 Acres
Price / SF$354.06
Days on Market10
Property Features for 2037 Grayson Highway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OI
Zoning description
Commercial
Bedrooms
7
Bathrooms
3
Half bathrooms
3
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 7, Bedroom 3, Bedroom 4, Bedroom 6, Bedroom 2
Parking
10
Security features
Security Lighting
Interior features
Fireplace, High Ceilings
Exterior features
Storage
Fireplace
1
Accessibility
Accessible Approach with Ramp
Appliances
Electric Water Heater
Directions
2037 Grayson Hwy is located on Hwy 20 between Grayson-New Hope Rd and Rosebud Rd. Parkside at Grayson shopping is right beside property to the right.
Standard status
Active
APN
R5136 028
Lot size
1.05 Acres
Taxes and HOA fees
Tax Description
x
Legal Description
x
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
wraparound porch
mature landscaping
detached storage building
Building Details
Year built
1897
Floors in Building
2
Flooring type
Hardwood
Building materials
Concrete
Roof type
Composition
Architectural style
Colonial, Victorian
Additional Structures
Storage, Outbuilding
Listing Agency:
Keller Williams Realty Atlanta
(678) 808-1300
Listed By:
Doug Minton · License #338899
(404) 520-0015
Added: Aug 11
Changed: Aug 19
Last Checked: Aug 20 at 5:06PM
MLS# CL362236
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story office property provides 3248+- Sq feet on 1.05 acres, with an existing professional office arrangement. The main level includes 3 offices, a kitchen, break area, and 2 restrooms; the upper floor adds 4 offices and a bathroom. A detached storage building is also included. Interior improvements include refreshed hardwood flooring, updated electrical and plumbing, new light fixtures, custom ceiling trim, designer wallpaper, and stone countertops. The property also features a fireplace, high ceilings, central heating and cooling, a composition roof, and an accessible approach with ramp. Built in 1897, the building incorporates Victorian and Colonial architectural elements.
Located at 2037 Grayson Highway in Grayson, Georgia, the property is positioned near Grayson's Park and within walking distance of The Railyard, Kroger, restaurants, boutique shops, and multiple strip centers. OI zoning supports its commercial office classification.
Located at 2037 Grayson Highway in Grayson, Georgia, the property is positioned near Grayson's Park and within walking distance of The Railyard, Kroger, restaurants, boutique shops, and multiple strip centers. OI zoning supports its commercial office classification.
Key Highlights
- 3,248+- Sq feet across 2 stories on 1.05 acres
- OI zoning with an existing professional office layout
- Main floor has 3 offices, kitchen, break area, and 2 restrooms
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
$43,494
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
3.78%
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%
$869,880
$869.9K
Cap Rate 7%
$621,343
$621.3K
Cap Rate 9%
$483,267
$483.3K
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
$77.5K $23.87/SF
− Vacancy
−$19.5K −$6.02/SF
EGI
$58.0K $17.85/SF
− OpEx
−$14.5K −$4.46/SF
NOI
$43.5K $13.39/SF
Area
Gwinnett County, GA
Vacancy
25.20%
Lease Rate
$23.87 /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%
$869,880
Cap Rate 7%
$621,343
Cap Rate 9%
$483,267
Alternative Uses
Best Use
Office B
$621.3K
$543.7K – $724.9K
NOI $43,494 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
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
Location Intelligence
Trade Area within ½ mile
684
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
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Frequently Asked Questions
What type of property is this?
Office building - Updated interior finishes and a detached storage building complement the property's commercial office layout.
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+- Sq feet across 2 stories on 1.05 acres; OI zoning with an existing professional office layout; Main floor has 3 offices, kitchen, break area, and 2 restrooms
