Freestanding Two-Story Office
For Sale
Contact for pricing
291 Heritage Walk, Woodstock, GA 30188
Flexible professional office configuration with elevator access, private offices, conference areas, and open second-floor workspace.
Property Size8,356 SF
Price / SF$250
Days on Market18
Property Features for 291 Heritage Walk
General Information
Standard status
Active
Size
8,356 SF
Class
B
Total Parking Spaces
26
Elevators
Yes
Property subtype
Office
Zoning
DT-GC in Woodstock
Occupancy
50%
Lease Type
NNN
Additional Details
Highway Access
Yes
Amenities
showers
Building Details
Year Built
2002
Buildings
1
Stories
2
Units
2
Tenancy
Single
Listing Agency:
Vision Commercial Advisors, Inc.
(770) 329-2878
Listed By:
David Hacker · License #174269
Source:
Crexi
Added: Aug 3
Changed: Aug 19
Last Checked: Aug 19 at 11:56PM
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 Vision Commercial Advisors, Inc.
Investment Insights
Based on property information with market context.
This freestanding office property contains 8,356 square feet across two levels and was built in 2002. The first floor is arranged with 12 private offices, a break room, conference and training space, and a reception area. An elevator and stairwell serve the upper level, which provides open bullpen-style workspace along with a conference room, break area, and two private offices. Second-floor restrooms include showers.
The building is located just off Highway 92 near I-575 in Woodstock and is zoned DT-GC in Woodstock. Convenient parking and proximity to a nearby trail system are also noted. The existing tenant’s lease expires next year, with interest expressed in renewing for the first floor under a new lease. Showings are available by appointment, and the tenant should not be disturbed.
The building is located just off Highway 92 near I-575 in Woodstock and is zoned DT-GC in Woodstock. Convenient parking and proximity to a nearby trail system are also noted. The existing tenant’s lease expires next year, with interest expressed in renewing for the first floor under a new lease. Showings are available by appointment, and the tenant should not be disturbed.
Key Highlights
- 8,356‑square‑foot freestanding office building built in 2002
- Two‑story layout with elevator and stairwell access
- First floor includes 12 private offices, reception, break room, and conference/training room
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
$111,896
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
5.36%
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%
$2,237,920
$2.2M
Cap Rate 7%
$1,598,514
$1.6M
Cap Rate 9%
$1,243,289
$1.2M
Market Conditions
NOI Build-Up for 8,356 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
$199.5K $23.87/SF
− Vacancy
−$50.3K −$6.02/SF
EGI
$149.2K $17.85/SF
− OpEx
−$37.3K −$4.46/SF
NOI
$111.9K $13.39/SF
Area
Cherokee 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%
$2,237,920
Cap Rate 7%
$1,598,514
Cap Rate 9%
$1,243,289
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.86M
NOI $111,896 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,246 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 30188, GA
67,972
Population
26,759
Households
2.5
Avg Household Size
40
Median Age
47%
College-Educated
95%
High-School Grad
43.7 sq mi
ZIP Area
1,555
Density / Sq Mi
$105,395
Median Household Income
$55,281
Median Earnings
$1,736
Median Rent
$389,100
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 - Flexible professional office configuration with elevator access, private offices, conference areas, and open second-floor workspace.
Where is this office building located?
The property is located at 291 Heritage Walk Woodstock, GA.
What is the asking price?
The asking price for this property is $2,089,000.
What are key features of this property?
This property features: 8,356‑square‑foot freestanding office building built in 2002; Two‑story layout with elevator and stairwell access; First floor includes 12 private offices, reception, break room, and conference/training room
