Divisible Office
For Sale
$1,300,000
316 N Lewis Street, Lagrange, GA 30240
Commercial Sale, Lagrange, GA
Property Size8,500 SF
Lot Size0.47 Acres
Price / SF$153.52
Days on Market124
Property Features for 316 N Lewis Street
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
30
Parking features
Parking Lot
Accessibility
Accessible Approach with Ramp
Lot features
City Lot, Corner Lot, Level
Directions
From I-85 Exit 18, take Lafayette Parkway west toward downtown LaGrange. Continue straight as Lafayette Parkway becomes Vernon Street. Turn right onto North Lewis Street. The property at 316 N. Lewis Street will be on your right, just minutes from downtown LaGrange.
Standard status
Active
APN
0614A008001
Size
8,468 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
4647
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1959
Flooring type
Carpet, Tile
Building materials
Block, Concrete
Roof type
Composition
Listing Agency:
J.T. Jones & Associates Realty
(706) 883-6123
Listed By:
Jared T Jones Jr · License #134913
(706) 333-0600
Added: Apr 24
Changed: Aug 19
Last Checked: Aug 25 at 1:06AM
MLS# 10740382
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 316 N Lewis Street in LaGrange, this office building offers a flexible configuration for commercial occupancy. The property includes block and concrete construction, tile and carpet flooring, central heating, central air, a parking lot, and an accessible approach with ramp. Interior areas have been updated or remodeled, and the building can function as one office or be separated into two sides.
The property occupies 0.47 acres in downtown LaGrange and includes approximately 30 parking spaces. Public water and public sewer serve the site, while a composition roof completes the improvements. The building was constructed in 1959 and has been leased for the past 10 years. Nearby uses include law offices, banks, dental and medical offices, insurance agencies, a clinic, an amphitheater, and a coffee shop.
The property occupies 0.47 acres in downtown LaGrange and includes approximately 30 parking spaces. Public water and public sewer serve the site, while a composition roof completes the improvements. The building was constructed in 1959 and has been leased for the past 10 years. Nearby uses include law offices, banks, dental and medical offices, insurance agencies, a clinic, an amphitheater, and a coffee shop.
Key Highlights
- 8,468‑square‑foot office building on 0.47 acres
- Can operate as one office or divide into two separate sides
- Approximately 30 parking spaces with accessible ramp approach
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
$99,022
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
7.62%
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%
$1,980,440
$2.0M
Cap Rate 7%
$1,414,600
$1.4M
Cap Rate 9%
$1,100,244
$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
$144.3K $17.04/SF
− Vacancy
−$12.3K −$1.45/SF
EGI
$132.0K $15.59/SF
− OpEx
−$33.0K −$3.90/SF
NOI
$99.0K $11.69/SF
Area
Troup County, GA
Vacancy
8.50%
Lease Rate
$17.04 /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%
$1,980,440
Cap Rate 7%
$1,414,600
Cap Rate 9%
$1,100,244
Alternative Uses
Best Use
Office B
$1.41M
$1.24M – $1.65M
NOI $99,022 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
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 - Block construction, central HVAC, and a flexible layout support occupancy by one user or two separate office suites.
Where is this office building located?
The property is located at 316 N Lewis Street 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: 8,468‑square‑foot office building on 0.47 acres; Can operate as one office or divide into two separate sides; Approximately 30 parking spaces with accessible ramp approach
