Divisible Office
For Sale
$1,300,000
316 N Lewis St, Lagrange, GA 30240
Remodeled, ADA-accessible office property with flexible occupancy for a single user or two separate operations.
Property Size8,500 SF
Price / SF$153.52
Days on Market13
Property Features for 316 N Lewis St
General Information
Standard status
Active
Size
8,500 SF
Total Parking Spaces
30
Amenities
full ADA accessibility
Building Details
Year Built
1959
Buildings
1
Building Size
8,500 SF
Construction
solid block
Listing Agency:
J.T. Jones & Associates Realty
(706) 883-6123
Listed By:
Jared Jones, Jared Jones · License #134913
Source:
Eternorealtygroup
Added: Aug 18
Changed: Aug 29
Last Checked: Aug 25 at 4:29AM
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 J.T. Jones & Associates Realty
Investment Insights
Based on property information with market context.
Built in 1959, this solid-block office building at 316 N Lewis St offers a flexible commercial layout with updated and remodeled interior areas. The property can function as one larger office or be arranged as two separate sides, supporting a range of professional and service-oriented configurations. Full ADA accessibility and approximately 30 parking spaces add practical functionality for occupants and visitors.
The property is situated in downtown LaGrange among law offices, banks, medical and dental practices, insurance agencies, Local Grounds Coffee, Sweetland Amphitheatre, and Emory Clark-Holder Clinic. It has been leased for the past 10 years and offers multiple lease configuration options for an owner-user or investor.
The property is situated in downtown LaGrange among law offices, banks, medical and dental practices, insurance agencies, Local Grounds Coffee, Sweetland Amphitheatre, and Emory Clark-Holder Clinic. It has been leased for the past 10 years and offers multiple lease configuration options for an owner-user or investor.
Key Highlights
- Flexible layout can accommodate one office user or two separate sides
- Updated and remodeled interior areas
- Full ADA accessibility
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
$99,473
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
7.65%
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%
$1,989,460
$2.0M
Cap Rate 7%
$1,421,043
$1.4M
Cap Rate 9%
$1,105,256
$1.1M
Market Conditions
NOI Build-Up for 8,468 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
$178.8K $21.12/SF
− Vacancy
−$13.1K −$1.54/SF
EGI
$165.8K $19.58/SF
− OpEx
−$66.3K −$7.83/SF
NOI
$99.5K $11.75/SF
Area
Troup County, GA
Vacancy
7.30%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
40.00%
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%
$1,989,460
Cap Rate 7%
$1,421,043
Cap Rate 9%
$1,105,256
Alternative Uses
Best Use
Healthcare Medical
$1.42M
$1.24M – $1.66M
NOI $99,473 @ 7.0% cap · market cap 7.65%
Second Best
Office B
$1.41M
$1.24M – $1.65M
NOI $99,022 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$1.89M
$1.66M – $2.21M
NOI $132,631 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,257
Businesses Nearby
Explore this area
Business Placement
Demographics for 30240, GA
30,119
Population
12,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
139.6 sq mi
ZIP Area
216
Density / Sq Mi
$59,521
Median Household Income
$40,611
Median Earnings
$1,035
Median Rent
$221,800
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 - Remodeled, ADA-accessible office property with flexible occupancy for a single user or two separate operations.
Where is this office building located?
The property is located at 316 N Lewis St Lagrange, GA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Flexible layout can accommodate one office user or two separate sides; Updated and remodeled interior areas; Full ADA accessibility
