Flex Office and Warehouse
For Sale
Contact for pricing
Pending
215 & 219 Lovvorn Road, Carrollton, GA 30117
Multi-use building offering office space totaling 29,567 square feet for purchase.
Property Size29,567 SF
Days on Market198
Property Features for 215 & 219 Lovvorn Road
General Information
Standard status
Pending
Size
29,567 SF
Property subtype
Office, Industrial
Zoning
M1
Building Details
Year Built
1984
Listing Agency:
Ackerman & Co
Listed By:
Chris Miller · License #GA
Source:
Crexi
Added: Feb 21
Changed: Aug 31
Last Checked: Sep 5 at 2:47PM
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 Ackerman & Co
Investment Insights
Based on property information with market context.
This for-sale commercial property is described as an office and totals 29,567 square feet. The asset is positioned within a mixed-use flex/warehouse-oriented property set, supporting a combination of office and work-space needs in one building footprint.
The property is located at 215 and 219 Lovvorn Road in Carrollton, Georgia. It is offered for sale as a single asset.
Additional building details beyond the office size are not provided in the available information.
The property is located at 215 and 219 Lovvorn Road in Carrollton, Georgia. It is offered for sale as a single asset.
Additional building details beyond the office size are not provided in the available information.
Key Highlights
- Multi‑use building with 29,567 sq ft of office space
- Built in 1984
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
$172,353
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
8.84%
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%
$3,447,060
$3.4M
Cap Rate 7%
$2,462,186
$2.5M
Cap Rate 9%
$1,915,033
$1.9M
Market Conditions
NOI Build-Up for 29,567 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
$280.3K $9.48/SF
− Vacancy
−$15.1K −$0.51/SF
EGI
$265.2K $8.97/SF
− OpEx
−$92.8K −$3.14/SF
NOI
$172.4K $5.83/SF
Area
Carroll County, GA
Vacancy
5.40%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$3,447,060
Cap Rate 7%
$2,462,186
Cap Rate 9%
$1,915,033
Alternative Uses
Best Use
Warehouse
$3.10M
$2.71M – $3.62M
NOI $217,047 @ 7.0% cap · market cap 11.13%
Second Best
Industrial
$2.57M
$2.25M – $3.00M
NOI $180,118 @ 7.0% cap · market cap 9.24%
Theoretical Best
Office A
$8.27M
$7.23M – $9.64M
NOI $578,558 @ 7.0% cap · market cap 29.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30117, GA
37,644
Population
15,313
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
85%
High-School Grad
108.1 sq mi
ZIP Area
348
Density / Sq Mi
$58,463
Median Household Income
$31,273
Median Earnings
$1,066
Median Rent
$239,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-use building offering office space totaling 29,567 square feet for purchase.
Where is this flex space located?
The property is located at 215 & 219 Lovvorn Road Carrollton, GA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Multi‑use building with 29,567 sq ft of office space; Built in 1984
