End-Unit Office
For Sale
$155,000
2800c-1551 Jennings Mill Rd, Watkinsville, GA
Single-level brick suite includes a reception area, private office, storage room, and accessible restroom.
Property Size698 SF
Price / SF$222.06
Days on Market57
Property Features for 2800c-1551 Jennings Mill Rd
General Information
Standard status
Active
Size
698 SF
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,121
Amenities
vaulted ceilings
large arched windows
crown molding
carpet flooring
ceiling fan
handicap accessibility
Building Details
Construction
brick
Abandoned
No
Listing Agency:
LPT Realty
(877) 366-2213
Listed By:
Timothy Carithers
(706) 818-0813
Source:
Exprealty
Added: Aug 7
Changed: Sep 29
Last Checked: Oct 1 at 4:33PM
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 LPT Realty
Investment Insights
Based on property information with market context.
This 698 SF office condo is a single-level, end-unit brick suite in Resource Valley. Its interior includes a reception area with vaulted ceilings and arched windows, a private office, a storage room, and an ADA-accessible restroom. Carpet flooring, crown molding, and a ceiling fan are also present. Shared parking serves the office community.
The property is on Jennings Mill Road in Watkinsville, minutes from Epps Bridge Parkway, GA 316, and downtown Athens. Retail and dining are nearby.
The property is on Jennings Mill Road in Watkinsville, minutes from Epps Bridge Parkway, GA 316, and downtown Athens. Retail and dining are nearby.
Key Highlights
- 698 SF end‑unit office condo in Resource Valley
- Single‑level brick suite with an ADA‑accessible restroom
- Reception area features vaulted ceilings and large arched windows
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
$9,035
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
5.83%
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%
$180,700
$180.7K
Cap Rate 7%
$129,071
$129.1K
Cap Rate 9%
$100,389
$100.4K
Market Conditions
NOI Build-Up for 698 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
$15.1K $21.60/SF
− Vacancy
−$3.0K −$4.34/SF
EGI
$12.0K $17.26/SF
− OpEx
−$3.0K −$4.31/SF
NOI
$9.0K $12.94/SF
Area
Oconee County, GA
Vacancy
20.10%
Lease Rate
$21.60 /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%
$180,700
Cap Rate 7%
$129,071
Cap Rate 9%
$100,389
Alternative Uses
Best Use
Office B
$129.1K
$112.9K – $150.6K
NOI $9,035 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$168.3K
$147.2K – $196.3K
NOI $11,779 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office 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?
Office units - Single-level brick suite includes a reception area, private office, storage room, and accessible restroom.
Where is this office units located?
The property is located at 2800c-1551 Jennings Mill Rd Watkinsville, GA.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: 698 SF end‑unit office condo in Resource Valley; Single‑level brick suite with an ADA‑accessible restroom; Reception area features vaulted ceilings and large arched windows
