Office Condominium with Finished
For Sale
$675,000
3149 Atlanta Highway #SUITES A & B, Athens, GA 30606
West Athens location with private offices, a conference room, and a built-in reception area.
Property Size3,040 SF
Price / SF$222.04
Days on Market131
Property Features for 3149 Atlanta Highway #SUITES A & B
General Information
Standard status
Active
Size
3,040 SF
Property subtype
Commercial
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$7,791
Amenities
Central air
Metal Roof
Business Park
Carpet Flooring
Central Air Cooling
Central Heating
Electric Cooling
Electric Heating
Level
Parking Lot
Paved
Tile Flooring
Vinyl Flooring
Building Details
Year Built
2005
Listing Agency:
NAI Elrod Group
(706) 553-1000
Listed By:
Brian Elrod · License ##251606
Source:
Corcoran
Added: Apr 23
Changed: Aug 31
Last Checked: Aug 30 at 5:19PM
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, totaling 3,040 SF in a 2005 building. The layout provides three private offices, a conference room, a cubicle suite, and a built-in reception desk. Ten-foot ceilings extend throughout, while the conference room features a granite table, dual chandeliers, and pocket doors. A wired speaker system is also installed.
Positioned along US 29 on the west side of Athens-Clarke County, the property sees more than 24,000 vehicles per day. It is near Atlanta Highway and Athens West Parkway, with the GA-10 Loop to the east. Walmart, Target, Carrabba's, Popeyes, Taco Bell, Regions Bank, Office Depot, and Enterprise are among the surrounding businesses. Downtown Athens and UGA are approximately five miles east.
Positioned along US 29 on the west side of Athens-Clarke County, the property sees more than 24,000 vehicles per day. It is near Atlanta Highway and Athens West Parkway, with the GA-10 Loop to the east. Walmart, Target, Carrabba's, Popeyes, Taco Bell, Regions Bank, Office Depot, and Enterprise are among the surrounding businesses. Downtown Athens and UGA are approximately five miles east.
Key Highlights
- 3,040 SF across Suites A and B
- Three private offices, a conference room, and a cubicle suite
- Conference room with built‑in granite table, dual chandeliers, and pocket doors
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
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
263
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 location with private offices, a conference room, and a built-in reception area.
Where is this office units located?
The property is located at 3149 Atlanta Highway #SUITES A & B 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, a conference room, and a cubicle suite; Conference room with built‑in granite table, dual chandeliers, and pocket doors
