Flex Space with Warehouse
For Sale
$562,000
2270 Pendley Rd, Cumming, GA 30041
Blends finished office space with climate-controlled warehouse and workshop areas for light industrial operations.
Property Size2,809 SF
Price / SF$200.07
Days on Market83
Property Features for 2270 Pendley Rd
General Information
Standard status
Active
Size
2,809 SF
Property subtype
Commercial
Building Details
Year Built
2003
Listing Agency:
Norton Commercial Acreage Group
Listed By:
Jason Mamrick
Source:
Florida-georgia-realty
Added: Jun 9
Changed: Aug 29
Last Checked: Aug 25 at 6:33AM
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 Norton Commercial Acreage Group
Investment Insights
Based on property information with market context.
Built in 2003, this 2,809 SF flex property combines approximately 600 SF of finished office area with approximately 2,209 SF of climate-controlled warehouse and workshop space. The office component includes a private office, hallway, and restroom, with new luxury vinyl plank flooring scheduled for installation.
The industrial area features a 14' clear height, drive-in access, roll-up doors, and a sealed concrete floor. Located at 2270 Pendley Road in Pendley Industrial Park, the property is just off Industrial Park Blvd with access to GA 400 and the retail corridor along Bethelview Road. The configuration supports storage, light fabrication, and service vehicle use.
The industrial area features a 14' clear height, drive-in access, roll-up doors, and a sealed concrete floor. Located at 2270 Pendley Road in Pendley Industrial Park, the property is just off Industrial Park Blvd with access to GA 400 and the retail corridor along Bethelview Road. The configuration supports storage, light fabrication, and service vehicle use.
Key Highlights
- 2,809 SF flex space with office and industrial areas
- Approximately 600 SF of finished office space
- Approximately 2,209 SF of climate‑controlled warehouse and workshop space
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
$37,616
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
6.69%
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%
$752,320
$752.3K
Cap Rate 7%
$537,371
$537.4K
Cap Rate 9%
$417,956
$418.0K
Market Conditions
NOI Build-Up for 2,809 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
$67.1K $23.87/SF
− Vacancy
−$16.9K −$6.02/SF
EGI
$50.2K $17.85/SF
− OpEx
−$12.5K −$4.46/SF
NOI
$37.6K $13.39/SF
Area
Forsyth 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%
$752,320
Cap Rate 7%
$537,371
Cap Rate 9%
$417,956
Alternative Uses
Best Use
Office B
$537.4K
$470.2K – $626.9K
NOI $37,616 @ 7.0% cap · market cap 6.69%
Second Best
Warehouse
$294.6K
$257.8K – $343.7K
NOI $20,620 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$785.2K
$687.1K – $916.1K
NOI $54,966 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30041, GA
72,489
Population
27,027
Households
2.7
Avg Household Size
40
Median Age
60%
College-Educated
95%
High-School Grad
59.7 sq mi
ZIP Area
1,214
Density / Sq Mi
$141,825
Median Household Income
$69,096
Median Earnings
$1,862
Median Rent
$522,900
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?
Flex space - Blends finished office space with climate-controlled warehouse and workshop areas for light industrial operations.
Where is this flex space located?
The property is located at 2270 Pendley Rd Cumming, GA.
What is the asking price?
The asking price for this property is $562,000.
What are key features of this property?
This property features: 2,809 SF flex space with office and industrial areas; Approximately 600 SF of finished office space; Approximately 2,209 SF of climate‑controlled warehouse and workshop space
