Flex Space with Fenced
For Sale
Contact for pricing
204 HAWKINS STORE RD NW, Kennesaw, GA 30144
Office, open work, shop, and fenced storage areas support service-oriented commercial operations.
Property Size2,224 SF
Price / SF$258.54
Days on Market123
Property Features for 204 HAWKINS STORE RD NW
General Information
Standard status
Active
Size
2,224 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Year Built
1967
Stories
1
Units
5
Listing Agency:
SK Commercial Realty
(404) 252-1200
Listed By:
Ross Lightle · License #438122
Source:
Crexi
Added: Apr 30
Changed: Aug 29
Last Checked: Aug 29 at 6:37PM
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 SK Commercial Realty
Investment Insights
Based on property information with market context.
This 2,224-square-foot flex property, built in 1967, combines four private offices with open work space and dedicated shop space. The configuration accommodates administrative functions alongside hands-on operations and storage needs. A fenced rear area with two gates provides secured outdoor space for vehicles, trailers, or equipment.
The property is positioned off Bells Ferry Rd and is less than 1/2 mile from I-575, providing convenient access for business activities involving personnel, service vehicles, or stored equipment.
The property is positioned off Bells Ferry Rd and is less than 1/2 mile from I-575, providing convenient access for business activities involving personnel, service vehicles, or stored equipment.
Key Highlights
- 2,224‑square‑foot flex property built in 1967
- Four private offices plus open workspace and shop space
- Fenced rear area with two gates
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
$29,782
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
5.18%
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%
$595,640
$595.6K
Cap Rate 7%
$425,457
$425.5K
Cap Rate 9%
$330,911
$330.9K
Market Conditions
NOI Build-Up for 2,224 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
$53.1K $23.87/SF
− Vacancy
−$13.4K −$6.02/SF
EGI
$39.7K $17.85/SF
− OpEx
−$9.9K −$4.46/SF
NOI
$29.8K $13.39/SF
Area
Cobb 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%
$595,640
Cap Rate 7%
$425,457
Cap Rate 9%
$330,911
Alternative Uses
Best Use
Office B
$425.5K
$372.3K – $496.4K
NOI $29,782 @ 7.0% cap · market cap 5.18%
Second Best
Industrial
$193.5K
$169.4K – $225.8K
NOI $13,548 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$624.5K
$546.4K – $728.6K
NOI $43,715 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30144, GA
53,984
Population
22,843
Households
2.4
Avg Household Size
34
Median Age
45%
College-Educated
94%
High-School Grad
22.1 sq mi
ZIP Area
2,443
Density / Sq Mi
$84,628
Median Household Income
$41,693
Median Earnings
$1,745
Median Rent
$310,400
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?
Flex space - Office, open work, shop, and fenced storage areas support service-oriented commercial operations.
Where is this flex space located?
The property is located at 204 HAWKINS STORE RD NW Kennesaw, GA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,224‑square‑foot flex property built in 1967; Four private offices plus open workspace and shop space; Fenced rear area with two gates
