All-Brick Office
For Sale
$575,000
288 Scenic Hwy, Lawrenceville, GA 30046
All-brick office building with 7 offices, a reception area, and a small kitchen, plus four separate entrances.
Property Size1,800 SF
Price / SF$319.44
Days on Market48
Property Features for 288 Scenic Hwy
General Information
Standard status
Active
Size
1,800 SF
Building Details
Year Built
1952
Listing Agency:
First United Realty, Inc.
Listed By:
Faye Kilpatrick · License #153188
(404) 425-3547
Source:
Harmonandharmon
Added: Jul 19
Changed: Aug 22
Last Checked: Sep 4 at 10:31AM
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 First United Realty, Inc.
Investment Insights
Based on property information with market context.
This all-brick office building offers a large reception area and a functional interior layout with seven offices plus a bonus room suited for copier and filing needs. A small kitchen area includes a sink, refrigerator, and microwave. The property features a partial basement and includes a handicap ramp at the rear. The roof and LVP flooring in much of the office space have been newly updated.
The building has four separate entrances and extensive parking in both the front and rear. The seller notes the property is zoned O & N, which may support private use as well. It is located approximately 1,000 feet from the intersection of 124 and Gwinnett Drive, between Sugarloaf Parkway and the Gwinnett Drive intersection.
The seller is currently using the space for an Allstate Insurance Agency and will consider renting back a small area after closing.
The building has four separate entrances and extensive parking in both the front and rear. The seller notes the property is zoned O & N, which may support private use as well. It is located approximately 1,000 feet from the intersection of 124 and Gwinnett Drive, between Sugarloaf Parkway and the Gwinnett Drive intersection.
The seller is currently using the space for an Allstate Insurance Agency and will consider renting back a small area after closing.
Key Highlights
- All‑brick office building built in 1952 with over 1,800 SF of office space and a partial basement
- Office layout includes 7 offices plus a bonus room for a copier and filing cabinets, with a large reception area
- Small kitchen area includes a sink, refrigerator, and microwave
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
$24,104
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
4.19%
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%
$482,080
$482.1K
Cap Rate 7%
$344,343
$344.3K
Cap Rate 9%
$267,822
$267.8K
Market Conditions
NOI Build-Up for 1,800 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
$43.0K $23.87/SF
− Vacancy
−$10.8K −$6.02/SF
EGI
$32.1K $17.85/SF
− OpEx
−$8.0K −$4.46/SF
NOI
$24.1K $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%
$482,080
Cap Rate 7%
$344,343
Cap Rate 9%
$267,822
Alternative Uses
Best Use
Office B
$344.3K
$301.3K – $401.7K
NOI $24,104 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$503.2K
$440.3K – $587.0K
NOI $35,222 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 30046, GA
40,227
Population
14,356
Households
2.8
Avg Household Size
34
Median Age
26%
College-Educated
84%
High-School Grad
15.8 sq mi
ZIP Area
2,546
Density / Sq Mi
$63,379
Median Household Income
$36,962
Median Earnings
$1,488
Median Rent
$302,600
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 units - All-brick office building with 7 offices, a reception area, and a small kitchen, plus four separate entrances.
Where is this office units located?
The property is located at 288 Scenic Hwy Lawrenceville, GA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: All‑brick office building built in 1952 with over 1,800 SF of office space and a partial basement; Office layout includes 7 offices plus a bonus room for a copier and filing cabinets, with a large reception area; Small kitchen area includes a sink, refrigerator, and microwave
