Historic Office
For Sale
$314,900
223 S Madison Avenue, Monroe, GA 30655
Commercial Sale, Monroe, GA
Property Size1,874 SF
Lot Size0.15 Acres
Price / SF$168.04
Days on Market514
Property Features for 223 S Madison Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Parking Lot
Lot features
City Lot, Level
Directions
From Hwy 11N/Broad St traveling North take a right onto Washington St to Right onto S Madison Avenue at US Post Office; property is house located just past post office on the left. #223 From Hwy 11S/Broad St traveling South, take a left onto Washington St to Right onto S Madison Ave at US Post Office; property is located just past post office on the left. #223
Standard status
Active
APN
M0140121
Size
1,874 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3994
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
sprawling front porch
handicap ramp access
Building Details
Year built
1930
Flooring type
Hardwood, Carpet
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Malcom & Malcom Realty Prof.
(770) 267-0092
Listed By:
Andrea Malcom Campbell · License #378176
(678) 227-0990
Added: Apr 1, 2025
Changed: Aug 19
Last Checked: Aug 27 at 8:06AM
MLS# 10510827
Copyright © 2026 Georgia Multiple Listing Service. 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 1,874-square-foot office property occupies a 0.15-acre site and dates to 1930. The wood-sided building retains hardwood and carpet flooring, a spacious front porch, and a rear entrance with handicap ramp access. Central electric heating and cooling serve the interior, while the property also includes a composition roof, parking lot, public water, public sewer, and cable availability.
Located at 223 S Madison Avenue in Monroe, the building sits in the downtown area next to the Monroe US Post Office. Dining, retail, private gyms, and a spa are within walking distance, and the Town Green hosts Friday Night Concerts. The property is positioned for a small business headquarters or other office use supported by its existing commercial setting.
Located at 223 S Madison Avenue in Monroe, the building sits in the downtown area next to the Monroe US Post Office. Dining, retail, private gyms, and a spa are within walking distance, and the Town Green hosts Friday Night Concerts. The property is positioned for a small business headquarters or other office use supported by its existing commercial setting.
Key Highlights
- 1,874 SF office property on a 0.15‑acre site
- 1930 construction with wood siding and a composition roof
- Front porch plus rear handicap ramp access
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
$25,095
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
7.97%
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%
$501,900
$501.9K
Cap Rate 7%
$358,500
$358.5K
Cap Rate 9%
$278,833
$278.8K
Market Conditions
NOI Build-Up for 1,874 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
$44.7K $23.87/SF
− Vacancy
−$11.3K −$6.02/SF
EGI
$33.5K $17.85/SF
− OpEx
−$8.4K −$4.46/SF
NOI
$25.1K $13.39/SF
Area
Walton County, GA
Vacancy
25.20%
Lease Rate
$23.87 /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%
$501,900
Cap Rate 7%
$358,500
Cap Rate 9%
$278,833
Alternative Uses
Best Use
Office B
$358.5K
$313.7K – $418.3K
NOI $25,095 @ 7.0% cap · market cap 7.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$526.2K
$460.4K – $613.9K
NOI $36,835 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
Explore this area
Business Placement
Demographics for 30655, GA
27,541
Population
10,212
Households
2.7
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
83.0 sq mi
ZIP Area
332
Density / Sq Mi
$68,292
Median Household Income
$39,472
Median Earnings
$1,099
Median Rent
$290,900
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 building - Standalone office property with a broad front porch, parking lot, and convenient public utility service.
Where is this office building located?
The property is located at 223 S Madison Avenue Monroe, GA.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: 1,874 SF office property on a 0.15‑acre site; 1930 construction with wood siding and a composition roof; Front porch plus rear handicap ramp access
