Historic Mixed-Use Office
For Sale
Contact for pricing
212 North Erwin Street, Cartersville, GA 30120
Historic office building with 6 private offices, conference room, open work area, kitchen, and 2 bathrooms with showers.
Property Size2,505 SF
Lot Size0.68 Acres
Price / SF$199.20
Days on Market118
Property Features for 212 North Erwin Street
General Information
Standard status
Active
Size
2,505 SF
Total Parking Spaces
7
Lot size
0.68 Acres
Property subtype
Retail, Office, Mixed Use
Zoning
M-U (Multiple-Use)
Additional Details
Office Units
6
Building Details
Stories
2
Listing Agency:
SugarOak Realty, LLC
Listed By:
John Simpson · License #GA
Source:
Crexi
Added: May 11
Changed: Aug 21
Last Checked: Sep 4 at 4:34PM
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 SugarOak Realty, LLC
Investment Insights
Based on property information with market context.
This historic property offers 2,505 rentable square feet and a functional interior layout for professional use or adaptive reuse. The space includes six private offices, one conference room, an open work area, a full kitchen, and two bathrooms with showers, supporting day-to-day workflow and flexible occupancy.
The property is situated on approximately 0.68 acres and is zoned M-U (Multiple-Use). That zoning designation allows for professional, retail, and residential uses, providing multiple paths for owner-users and investors depending on their intended concept.
For a buyer or tenant group seeking a character-rich building with a straightforward office configuration and multi-use zoning, this property offers a versatile option in a quiet, professional setting.
The property is situated on approximately 0.68 acres and is zoned M-U (Multiple-Use). That zoning designation allows for professional, retail, and residential uses, providing multiple paths for owner-users and investors depending on their intended concept.
For a buyer or tenant group seeking a character-rich building with a straightforward office configuration and multi-use zoning, this property offers a versatile option in a quiet, professional setting.
Key Highlights
- Approximately 2,505 rentable SF historic office building on about 0.68 acres
- Interior layout includes 6 private offices, 1 conference room, and an open work area
- Amenities include a full kitchen and 2 bathrooms with showers
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
$35,234
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
7.06%
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%
$704,680
$704.7K
Cap Rate 7%
$503,343
$503.3K
Cap Rate 9%
$391,489
$391.5K
Market Conditions
NOI Build-Up for 2,505 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
$55.0K $21.96/SF
− Vacancy
−$4.7K −$1.87/SF
EGI
$50.3K $20.09/SF
− OpEx
−$15.1K −$6.03/SF
NOI
$35.2K $14.07/SF
Area
Bartow County, GA
Vacancy
8.50%
Lease Rate
$21.96 /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%
$704,680
Cap Rate 7%
$503,343
Cap Rate 9%
$391,489
Alternative Uses
Best Use
Retail
$503.3K
$440.4K – $587.2K
NOI $35,234 @ 7.0% cap · market cap 7.06%
Second Best
Office B
$479.2K
$419.3K – $559.1K
NOI $33,545 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$703.4K
$615.5K – $820.6K
NOI $49,238 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
1,410
Businesses Nearby
Explore this area
Business Placement
Demographics for 30120, GA
42,702
Population
16,778
Households
2.5
Avg Household Size
39
Median Age
25%
College-Educated
89%
High-School Grad
93.0 sq mi
ZIP Area
459
Density / Sq Mi
$83,892
Median Household Income
$44,948
Median Earnings
$1,205
Median Rent
$276,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Historic office building with 6 private offices, conference room, open work area, kitchen, and 2 bathrooms with showers.
Where is this office building located?
The property is located at 212 North Erwin Street Cartersville, GA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Approximately 2,505 rentable SF historic office building on about 0.68 acres; Interior layout includes 6 private offices, 1 conference room, and an open work area; Amenities include a full kitchen and 2 bathrooms with showers
