Multi-Tenant Building in Medical
For Sale
Contact for pricing
Pending
302 Broad St SE, Gainesville, GA 30501
Income-producing multi-tenant building in Gainesville's medical and business district.
Property Size6,157 SF
Days on Market187
Property Features for 302 Broad St SE
General Information
Standard status
Pending
Size
6,157 SF
Property subtype
Retail, Industrial, Special Purpose
Zoning
GB – City of Gainesville
Lease Type
NNN
Building Details
Year Built
1960
Tenancy
Multi
Listing Agency:
Corporate
Listed By:
Charlie Hawkins · License #GA
Source:
Crexi
Added: Feb 24
Changed: Aug 26
Last Checked: Aug 28 at 9:19AM
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 Corporate
Investment Insights
Based on property information with market context.
The property at 302 Broad Street is a multi-tenant building located within the medical and business district of Gainesville. Neighboring NEGA Medical Center, The Longstreet Clinic, Brenau University, the Courthouse, and Downtown Gainesville, the building is anchored by Schlotzsky’s Deli, Buttermilk Pie Company, and Procare Ottobock. This income-producing asset offers an advantageous location within a growing market, presenting long-term upside and additional value. The building has ample parking and is situated within walking distance of Downtown Gainesville, which has been recognized as Georgia’s fastest-growing city. The property is 6157 square feet and suitable for retail and office use.
Key Highlights
- Prime location in Gainesville's Medical and Business District
- Anchored by established tenants including Schlotzsky’s Deli
- Income‑producing asset with long‑term upside potential
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
$70,984
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
2.84%
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%
$1,419,680
$1.4M
Cap Rate 7%
$1,014,057
$1.0M
Cap Rate 9%
$788,711
$788.7K
Market Conditions
NOI Build-Up for 6,157 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
$110.8K $18.00/SF
− Vacancy
−$9.4K −$1.53/SF
EGI
$101.4K $16.47/SF
− OpEx
−$30.4K −$4.94/SF
NOI
$71.0K $11.53/SF
Area
Hall County, GA
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,419,680
Cap Rate 7%
$1,014,057
Cap Rate 9%
$788,711
Alternative Uses
Best Use
Retail
$1.01M
$887.3K – $1.18M
NOI $70,984 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,699 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 30501, GA
29,779
Population
12,916
Households
2.3
Avg Household Size
33
Median Age
21%
College-Educated
71%
High-School Grad
21.9 sq mi
ZIP Area
1,360
Density / Sq Mi
$58,214
Median Household Income
$33,299
Median Earnings
$1,152
Median Rent
$249,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Income-producing multi-tenant building in Gainesville's medical and business district.
Where is this retail space located?
The property is located at 302 Broad St SE Gainesville, GA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime location in Gainesville's Medical and Business District; Anchored by established tenants including Schlotzsky’s Deli; Income‑producing asset with long‑term upside potential
