Freestanding Multi-Tenant Office
For Sale
$595,000
2066 Watson Blvd, Warner Robins, GA 31093
Freestanding, fully renovated office building with multiple suites, including a medical tenant and two currently available spaces.
Property Size3,636 SF
Price / SF$163.64
Days on Market73
Property Features for 2066 Watson Blvd
General Information
Standard status
Active
Size
3,636 SF
Taxes and HOA fees
Annual Taxes
$2,763
Building Details
Tenancy
Multi
Listing Agency:
CBC Metro Brokers
(678) 320-4800
Listed By:
Misha Page · License #401783
(678) 480-7429
Source:
Exprealty
Added: Jun 26
Changed: Aug 20
Last Checked: Sep 5 at 9:34AM
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 CBC Metro Brokers
Investment Insights
Based on property information with market context.
This freestanding, multi-tenant office building offers a flexible layout and a recently renovated interior. The property is currently configured with one medical tenant and two fully renovated suites that are available for immediate occupancy, creating space for continued leasing or potential customization by an owner-user.
Located along Watson Boulevard in Warner Robins, the building sits on the area’s primary retail corridor that connects Interstate 75 to Robins Air Force Base. The property is presented with strong visibility along this heavily traveled commercial route.
For prospective buyers, the existing in-place tenant provides income while the two available suites support lease-up activity. The available suites are being marketed for lease, and the asking price is described as subject to increase as vacancies are filled and additional income is added to the asset.
Located along Watson Boulevard in Warner Robins, the building sits on the area’s primary retail corridor that connects Interstate 75 to Robins Air Force Base. The property is presented with strong visibility along this heavily traveled commercial route.
For prospective buyers, the existing in-place tenant provides income while the two available suites support lease-up activity. The available suites are being marketed for lease, and the asking price is described as subject to increase as vacancies are filled and additional income is added to the asset.
Key Highlights
- Freestanding, fully renovated multi‑tenant office building along Watson Boulevard in Warner Robins’ main retail corridor
- Medical tenant onsite paying below‑market rent
- Two fully renovated suites available for immediate occupancy
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
$42,878
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
7.21%
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%
$857,560
$857.6K
Cap Rate 7%
$612,543
$612.5K
Cap Rate 9%
$476,422
$476.4K
Market Conditions
NOI Build-Up for 3,636 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
$79.8K $21.96/SF
− Vacancy
−$8.4K −$2.31/SF
EGI
$71.5K $19.65/SF
− OpEx
−$28.6K −$7.86/SF
NOI
$42.9K $11.79/SF
Area
Houston County, GA
Vacancy
10.50%
Lease Rate
$21.96 /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%
$857,560
Cap Rate 7%
$612,543
Cap Rate 9%
$476,422
Alternative Uses
Best Use
Healthcare Medical
$612.5K
$536.0K – $714.6K
NOI $42,878 @ 7.0% cap · market cap 7.21%
Second Best
Office B
$544.3K
$476.3K – $635.1K
NOI $38,104 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$784.8K
$686.7K – $915.6K
NOI $54,934 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 31093, GA
28,614
Population
13,275
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
87%
High-School Grad
20.4 sq mi
ZIP Area
1,403
Density / Sq Mi
$48,186
Median Household Income
$32,542
Median Earnings
$966
Median Rent
$137,900
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 units - Freestanding, fully renovated office building with multiple suites, including a medical tenant and two currently available spaces.
Where is this office units located?
The property is located at 2066 Watson Blvd Warner Robins, GA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Freestanding, fully renovated multi‑tenant office building along Watson Boulevard in Warner Robins’ main retail corridor; Medical tenant onsite paying below‑market rent; Two fully renovated suites available for immediate occupancy
