Brick Office Building with
For Sale
$1,700,000
2109 W Broad Street, Athens, GA 30606
Commercial Sale, Athens, GA
Property Size3,908 SF
Lot Size1.03 Acres
Price / SF$435.01
Days on Market48
Property Features for 2109 W Broad Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C-G
Zoning description
Commercial
Rooms
Basement
Parking
20
Appliances
Electric Water Heater
Directions
Located at the corner of West Broad and Magnolia Streets
Standard status
Active
APN
122C1-B-025
Size
3,908 SF
Lot size
1.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2759/435 |
Tax Annual Amount
10190
Legal Description
2759/435 |
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Building materials
Brick
Listing Agency:
Corcoran Classic Living
(706) 559-4520
Listed By:
Callie Waller · License #338939
(706) 540-7646
Added: Aug 3
Changed: Aug 20
Last Checked: Sep 19 at 9:06PM
MLS# CL357244
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 3,908-square-foot office building occupies 1.03 acres and features brick construction, a basement, and a 1953 construction date. Electric heating, electric cooling, and an electric water heater serve the property, with public water and public sewer connections.
Located at 2109 W Broad Street in Athens, the property is near medical offices, hospitals, shopping, restaurants, UGA, and Downtown Athens. Parking is described as accommodating one or multiple businesses. The property carries C-G zoning and offers an office configuration with supporting site and utility improvements.
Located at 2109 W Broad Street in Athens, the property is near medical offices, hospitals, shopping, restaurants, UGA, and Downtown Athens. Parking is described as accommodating one or multiple businesses. The property carries C-G zoning and offers an office configuration with supporting site and utility improvements.
Key Highlights
- 3,908 square feet of office space on 1.03 acres
- C‑G zoning designation
- Brick construction with a basement
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
$50,584
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
2.98%
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%
$1,011,680
$1.0M
Cap Rate 7%
$722,629
$722.6K
Cap Rate 9%
$562,044
$562.0K
Market Conditions
NOI Build-Up for 3,908 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
$84.4K $21.60/SF
− Vacancy
−$17.0K −$4.34/SF
EGI
$67.4K $17.26/SF
− OpEx
−$16.9K −$4.31/SF
NOI
$50.6K $12.94/SF
Area
Athens, GA
Vacancy
20.10%
Lease Rate
$21.60 /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%
$1,011,680
Cap Rate 7%
$722,629
Cap Rate 9%
$562,044
Alternative Uses
Best Use
Office B
$722.6K
$632.3K – $843.1K
NOI $50,584 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$942.1K
$824.3K – $1.10M
NOI $65,947 @ 7.0% cap · market cap 3.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,189
Businesses Nearby
Explore this area
Business Placement
Demographics for 30606, GA
46,798
Population
22,603
Households
2.1
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
30.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$61,397
Median Household Income
$35,854
Median Earnings
$1,222
Median Rent
$332,600
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 Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - C-G zoning accompanies parking near medical offices, hospitals, shopping, restaurants, UGA, and Downtown Athens.
Where is this office building located?
The property is located at 2109 W Broad Street Athens, GA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 3,908 square feet of office space on 1.03 acres; C‑G zoning designation; Brick construction with a basement
