Office Condominium with Private
For Sale
$675,000
3149 Atlanta Hwy, Athens, GA 30606
West Athens office condominium with flexible professional layout, built-in reception, conference facilities, and direct US 29 exposure.
Property Size3,040 SF
Price / SF$222.04
Days on Market10
Property Features for 3149 Atlanta Hwy
General Information
Standard status
Active
Size
3,040 SF
Additional Details
Office Units
2
Building Details
Year Built
2005
Listing Agency:
NAI Elrod Group
(706) 553-1000
Listed By:
Brian Elrod · License ##251606
Source:
Jetsetrealty
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 26 at 8:40AM
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 NAI Elrod Group
Investment Insights
Based on property information with market context.
This office condominium comprises Suites A and B with 3,040 SF of professional workspace. The layout includes three private offices, a cubicle suite, a conference room, and a built-in reception desk. Ten-foot ceilings run throughout, while the conference room adds a granite table, dual chandeliers, pocket doors on both sides, and a wired speaker system. The condominium structure allows ownership of the office suites rather than an entire building, and the property is also available for lease.
Positioned on the west side of Athens-Clarke County along US 29, the property records more than 24,000 vehicles per day. It is near Atlanta Highway and Athens West Parkway, with the GA-10 Loop to the east. Surrounding businesses include Walmart, Target, Carrabba’s, Popeyes, Taco Bell, Regions Bank, Office Depot, and Enterprise. Downtown Athens and UGA are approximately five miles east along Atlanta Highway.
Positioned on the west side of Athens-Clarke County along US 29, the property records more than 24,000 vehicles per day. It is near Atlanta Highway and Athens West Parkway, with the GA-10 Loop to the east. Surrounding businesses include Walmart, Target, Carrabba’s, Popeyes, Taco Bell, Regions Bank, Office Depot, and Enterprise. Downtown Athens and UGA are approximately five miles east along Atlanta Highway.
Key Highlights
- 3,040 SF across Suites A and B
- Three private offices, cubicle suite, conference room, and built‑in reception desk
- 10‑foot ceilings and wired speaker system throughout the office
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
$39,349
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%
$786,980
$787.0K
Cap Rate 7%
$562,129
$562.1K
Cap Rate 9%
$437,211
$437.2K
Market Conditions
NOI Build-Up for 3,040 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
$65.7K $21.60/SF
− Vacancy
−$13.2K −$4.34/SF
EGI
$52.5K $17.26/SF
− OpEx
−$13.1K −$4.31/SF
NOI
$39.3K $12.94/SF
Area
Athens, 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%
$786,980
Cap Rate 7%
$562,129
Cap Rate 9%
$437,211
Alternative Uses
Best Use
Office B
$562.1K
$491.9K – $655.8K
NOI $39,349 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$732.9K
$641.3K – $855.0K
NOI $51,300 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 30606, GA
46,798
Population
22,603
Households
2.1
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
30.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$61,397
Median Household Income
$35,854
Median Earnings
$1,222
Median Rent
$332,600
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 - West Athens office condominium with flexible professional layout, built-in reception, conference facilities, and direct US 29 exposure.
Where is this office units located?
The property is located at 3149 Atlanta Hwy Athens, GA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 3,040 SF across Suites A and B; Three private offices, cubicle suite, conference room, and built‑in reception desk; 10‑foot ceilings and wired speaker system throughout the office
