Renovated Flex
For Sale
Contact for pricing
2305 VARKEL WAY, Lithonia, GA 30058
Renovated industrial space features a clean-span warehouse and fully fenced, secured grounds for equipment and vehicles.
Property Size16,800 SF
Price / SF$118.75
Days on Market132
Property Features for 2305 VARKEL WAY
General Information
Standard status
Active
Size
16,800 SF
Property subtype
Industrial
Zoning
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Building Details
Year Built
1989
Year Renovated
2026
Buildings
1
Units
1
Tenancy
Single
Building Size
16,800 SF
Listing Agency:
CRE Holdings USA
(404) 358-3547
Listed By:
Daniel Levison · License #GA 114755
Source:
Crexi
Added: Apr 21
Changed: Aug 30
Last Checked: Aug 30 at 1:27AM
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 CRE Holdings USA
Investment Insights
Based on property information with market context.
This 16,800-square-foot flex building combines renovated interior space with a clean-span warehouse configuration. The facility is fully fenced and secured, providing a controlled setting for equipment and vehicles. Constructed in 1989, the property carries Industrial zoning and is positioned along the I-20 East corridor in the Atlanta area.
Key Highlights
- 16,800‑square‑foot industrial/flex building
- Renovated interior and clean‑span warehouse configuration
- Fully fenced and secured facility
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
$123,326
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
6.18%
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%
$2,466,520
$2.5M
Cap Rate 7%
$1,761,800
$1.8M
Cap Rate 9%
$1,370,289
$1.4M
Market Conditions
NOI Build-Up for 16,800 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
$159.3K $9.48/SF
− Vacancy
−$14.2K −$0.84/SF
EGI
$145.1K $8.64/SF
− OpEx
−$21.8K −$1.30/SF
NOI
$123.3K $7.34/SF
Area
DeKalb County, GA
Vacancy
8.90%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$2,466,520
Cap Rate 7%
$1,761,800
Cap Rate 9%
$1,370,289
Alternative Uses
Best Use
Warehouse
$1.76M
$1.54M – $2.06M
NOI $123,326 @ 7.0% cap · market cap 6.18%
Second Best
Industrial
$1.46M
$1.28M – $1.71M
NOI $102,343 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$4.70M
$4.11M – $5.48M
NOI $328,737 @ 7.0% cap · market cap 16.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30058, GA
59,445
Population
23,671
Households
2.5
Avg Household Size
36
Median Age
30%
College-Educated
90%
High-School Grad
30.5 sq mi
ZIP Area
1,949
Density / Sq Mi
$62,633
Median Household Income
$36,992
Median Earnings
$1,478
Median Rent
$221,200
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Renovated industrial space features a clean-span warehouse and fully fenced, secured grounds for equipment and vehicles.
Where is this flex space located?
The property is located at 2305 VARKEL WAY Lithonia, GA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 16,800‑square‑foot industrial/flex building; Renovated interior and clean‑span warehouse configuration; Fully fenced and secured facility
