Retail Building for
For Sale
$1,200,000
205 Old Perry Road, Bonaire, GA 31005
Commercial retail building offered for sale, totaling 8,700 square feet of rentable space.
Property Size8,900 SF
Price / SF$137.93
Days on Market136
Property Features for 205 Old Perry Road
General Information
Standard status
Active
Size
8,900 SF
Property subtype
Commercial
Building Details
Building Size
8,900 SF
Year Built
1997
Listing Agency:
GOLDEN KEY REALTY
Listed By:
Nicholas Horne · License #443164
(478) 230-3882
Source:
Afrealtygroup
Added: May 8
Changed: Sep 9
Last Checked: Sep 19 at 11:38AM
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 GOLDEN KEY REALTY
Investment Insights
Based on property information with market context.
This offering is a retail building marketed for sale with a total size of 8,700 square feet. The property is presented as retail space suitable for a tenant looking for dedicated storefront-style operations.
The asset is located at 205 Old Perry Road in Bonaire, Georgia. The listing information provided does not specify additional building details such as unit configuration, frontage, access features, or site improvements.
For buyers seeking a retail property, this provides a defined commercial footprint under one ownership. The space can be evaluated for compatibility with a range of retail uses based on the buyer’s leasing plans and desired tenant requirements, subject to any governing regulations and any terms of the current condition of the building.
The asset is located at 205 Old Perry Road in Bonaire, Georgia. The listing information provided does not specify additional building details such as unit configuration, frontage, access features, or site improvements.
For buyers seeking a retail property, this provides a defined commercial footprint under one ownership. The space can be evaluated for compatibility with a range of retail uses based on the buyer’s leasing plans and desired tenant requirements, subject to any governing regulations and any terms of the current condition of the building.
Key Highlights
- Retail commercial building built in 1997
- 8,700 sq ft of rentable space
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
$108,995
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
9.08%
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%
$2,179,900
$2.2M
Cap Rate 7%
$1,557,071
$1.6M
Cap Rate 9%
$1,211,056
$1.2M
Market Conditions
NOI Build-Up for 8,700 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
$170.2K $19.56/SF
− Vacancy
−$14.5K −$1.66/SF
EGI
$155.7K $17.90/SF
− OpEx
−$46.7K −$5.37/SF
NOI
$109.0K $12.53/SF
Area
Houston County, GA
Vacancy
8.50%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
30.00%
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%
$2,179,900
Cap Rate 7%
$1,557,071
Cap Rate 9%
$1,211,056
Alternative Uses
Best Use
Retail
$1.56M
$1.36M – $1.82M
NOI $108,995 @ 7.0% cap · market cap 9.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,444 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
10k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
10,405 visits/mo
0.1 miles
Demographics for 31005, GA
20,531
Population
7,514
Households
2.7
Avg Household Size
36
Median Age
41%
College-Educated
96%
High-School Grad
23.1 sq mi
ZIP Area
889
Density / Sq Mi
$107,071
Median Household Income
$58,603
Median Earnings
$1,248
Median Rent
$247,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial retail building offered for sale, totaling 8,700 square feet of rentable space.
Where is this retail space located?
The property is located at 205 Old Perry Road Bonaire, GA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Retail commercial building built in 1997; 8,700 sq ft of rentable space
