Brick Office Building with
For Sale
$750,000
2323 Pate St, Snellville, GA 30078
Well-maintained brick office with reception, private offices, staff space, break area, and on-site parking.
Property Size2,425 SF
Price / SF$309.28
Days on Market25
Property Features for 2323 Pate St
General Information
Standard status
Active
Size
2,425 SF
Additional Details
Highway Access
Yes
Office Units
1
Building Details
Year Built
1965
Buildings
1
Construction
brick
Listing Agency:
Front Gate Homes, LLC
(770) 972-1500
Listed By:
Darlene E Phillips · License #17235
Source:
Atlantarealestatedirectory
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 29 at 4:49PM
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 Front Gate Homes, LLC
Investment Insights
Based on property information with market context.
This 2,425-square-foot office building at 2323 Pate St. in Snellville was built in 1965 and features an all-brick exterior. The current layout includes a reception area, one office, two closing offices, staff space, a storage room, one bathroom, and a kitchen or breakroom area.
The property is positioned in downtown Snellville, just off Hwy 124 and Hwy 78. It sits behind a bank, with new townhomes planned across the street. More than 30 parking spaces support the existing office configuration and provide practical on-site parking for staff and visitors.
The property is positioned in downtown Snellville, just off Hwy 124 and Hwy 78. It sits behind a bank, with new townhomes planned across the street. More than 30 parking spaces support the existing office configuration and provide practical on-site parking for staff and visitors.
Key Highlights
- 2,425‑square‑foot office building at 2323 Pate St., Snellville, GA 30078
- All‑brick building constructed in 1965
- 30+ on‑site parking spaces
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
$32,473
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
4.33%
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%
$649,460
$649.5K
Cap Rate 7%
$463,900
$463.9K
Cap Rate 9%
$360,811
$360.8K
Market Conditions
NOI Build-Up for 2,425 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
$57.9K $23.87/SF
− Vacancy
−$14.6K −$6.02/SF
EGI
$43.3K $17.85/SF
− OpEx
−$10.8K −$4.46/SF
NOI
$32.5K $13.39/SF
Area
Gwinnett 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%
$649,460
Cap Rate 7%
$463,900
Cap Rate 9%
$360,811
Alternative Uses
Best Use
Office B
$463.9K
$405.9K – $541.2K
NOI $32,473 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$677.9K
$593.2K – $790.9K
NOI $47,452 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,895
Businesses Nearby
Explore this area
Business Placement
Demographics for 30078, GA
38,350
Population
13,784
Households
2.8
Avg Household Size
39
Median Age
42%
College-Educated
91%
High-School Grad
17.3 sq mi
ZIP Area
2,217
Density / Sq Mi
$90,054
Median Household Income
$44,657
Median Earnings
$1,641
Median Rent
$316,600
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 - Well-maintained brick office with reception, private offices, staff space, break area, and on-site parking.
Where is this office building located?
The property is located at 2323 Pate St Snellville, GA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,425‑square‑foot office building at 2323 Pate St., Snellville, GA 30078; All‑brick building constructed in 1965; 30+ on‑site parking spaces
