Historic Renovated Office
New
For Sale
$1,150,000
2037 Grayson Highway, Grayson, GA 30017
SINGLE_FAMILY - Colonial, Victorian - Grayson, GA
Property Size3,248 SF
Lot Size1.05 Acres
Price / SF$354.06
Days on Market1
Property Features for 2037 Grayson Highway
General Information
Property type
Residential
Property subtype
Office
Zoning
OI
Zoning description
Commercial
Bedrooms
7
Bathrooms
3
Half bathrooms
3
Rooms
Bedroom 2, Bedroom 7, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 3
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
x
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
Electric, Central Air
Water source
Public
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
Last Checked: Aug 11 at 8:06PM
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 3,248+-square-foot office property at 2037 Grayson Highway features two levels of professional workspace on a 1.05-acre parcel. The current configuration provides three offices, a kitchen, break area, and two restrooms on the main floor, with four additional offices and a bathroom upstairs. A detached storage building is included.
Built in 1897 with Colonial and Victorian architectural elements, the property combines preserved character with substantial updates. Interior features include hardwood flooring, high ceilings, a fireplace, stone countertops, custom ceiling trim, refreshed lighting, and updated electrical and plumbing systems. The composition roof has also been replaced. Zoning is OI, with public water and septic service. The property is positioned just off Grayson Highway and connects to Grayson’s Park, with The Railyard, Kroger, restaurants, shops, and strip centers identified within walking distance.
Built in 1897 with Colonial and Victorian architectural elements, the property combines preserved character with substantial updates. Interior features include hardwood flooring, high ceilings, a fireplace, stone countertops, custom ceiling trim, refreshed lighting, and updated electrical and plumbing systems. The composition roof has also been replaced. Zoning is OI, with public water and septic service. The property is positioned just off Grayson Highway and connects to Grayson’s Park, with The Railyard, Kroger, restaurants, shops, and strip centers identified within walking distance.
Key Highlights
- 3,248+-square‑foot office property on 1.05 acres
- Two‑story configuration with 7 offices, kitchen, break area, and 3 restrooms
- Built in 1897 with Colonial and Victorian architectural elements
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
Lease Details
Single-tenant
Tenancy
Yes
Highway 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 layout includes seven offices, kitchen, break area, and three restrooms.
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 property on 1.05 acres; Two‑story configuration with 7 offices, kitchen, break area, and 3 restrooms; Built in 1897 with Colonial and Victorian architectural elements
