Renovated Two-Story Office
New
For Sale
$1,150,000
2037 Grayson Highway, Grayson, GA 30017
COMMERCIAL - Grayson, GA
Property Size3,248 SF
Lot Size1.05 Acres
Price / SF$354.06
Days on Market6
Property Features for 2037 Grayson Highway
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
10
Parking features
Parking Lot
Fencing
Fenced
Accessibility
Accessible Approach with Ramp
Lot features
Level
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
Size
3,248 SF
Lot size
1.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11053
Utilities
Utilities
Cable Available
Sewer type
Septic Tank, Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
wraparound porch
mature landscaping
detached storage building
Building Details
Year built
1897
Flooring type
Hardwood
Building materials
Concrete
Roof type
Composition
Listing Agency:
Keller Williams Realty Atl. Partners
(678) 808-1300
Listed By:
Doug Minton · License #338899
(404) 520-0015
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 11 at 3:06AM
MLS# 10820642
Copyright © 2026 Georgia Multiple Listing Service. 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.
Built in 1897, this 3,248-square-foot office property spans two stories and sits on 1.054 acres. The current layout includes three offices, a kitchen, break area, and two restrooms on the main level, plus four offices and a bathroom upstairs. Interior improvements include refreshed hardwood flooring, updated light fixtures, custom ceiling trim, stone countertops, designer wallpaper, and electrical and plumbing updates. A detached storage building, composition roof, central air, electric heating, and a parking lot are also included.
Located at 2037 Grayson Highway in Grayson, the property is positioned near Grayson's Park and within walking distance of The Railyard, Kroger, restaurants, boutique shops, and multiple strip centers. Additional features include a fenced site, accessible ramp approach, public water, public sewer, and septic tank service.
Located at 2037 Grayson Highway in Grayson, the property is positioned near Grayson's Park and within walking distance of The Railyard, Kroger, restaurants, boutique shops, and multiple strip centers. Additional features include a fenced site, accessible ramp approach, public water, public sewer, and septic tank service.
Key Highlights
- 3,248‑square‑foot office building on 1.054 acres
- Two‑story layout with 7 offices, kitchen, break area, and 3 restrooms
- Renovated interiors with hardwood flooring, stone countertops, updated fixtures, and custom trim
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
Single-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office property with renovated interiors, a detached storage building, and on-site parking.
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 1.054 acres; Two‑story layout with 7 offices, kitchen, break area, and 3 restrooms; Renovated interiors with hardwood flooring, stone countertops, updated fixtures, and custom trim
