Freestanding Office Building with
For Sale
$695,000
3193 Evelyn St, Tucker, GA 30084
Corner-lot office property with flexible interiors, approved plans, and permits supporting immediate renovation work.
Property Size4,367 SF
Price / SF$159.15
Days on Market40
Property Features for 3193 Evelyn St
General Information
Standard status
Active
Size
4,367 SF
Total Parking Spaces
27
Building Details
Year Built
1960
Year Renovated
2007
Buildings
1
Listing Agency:
Virtual Properties Realty.com
(770) 495-5050
Listed By:
Mechelle Bowser
Source:
Jetsetrealty
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 7:39AM
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 Virtual Properties Realty.com
Investment Insights
Based on property information with market context.
This freestanding office building in Tucker contains 4,367 square feet and offers a flexible interior with open areas, high ceilings, and extensive demising. The property includes 27 parking spaces and was lightly remodeled in 2007. Approved plans and a DeKalb County permit are in place for renovation work, with plans also available to expand the building to almost 6,000 square feet.
Positioned on a corner lot, the property benefits from exposure suited to a range of office and commercial operations. It is located near the Emory Northlake Mall expansion and national retailers and restaurants including Target, PetSmart, Chick-fil-A, Dunkin, and McDonald's.
The layout can accommodate multiple office configurations, while the existing approvals and available plans provide a defined path for future improvements. The 1960 construction date and subsequent remodel offer useful context for evaluating the building’s existing condition and renovation scope.
Positioned on a corner lot, the property benefits from exposure suited to a range of office and commercial operations. It is located near the Emory Northlake Mall expansion and national retailers and restaurants including Target, PetSmart, Chick-fil-A, Dunkin, and McDonald's.
The layout can accommodate multiple office configurations, while the existing approvals and available plans provide a defined path for future improvements. The 1960 construction date and subsequent remodel offer useful context for evaluating the building’s existing condition and renovation scope.
Key Highlights
- 4,367‑square‑foot freestanding office building
- 27 parking spaces on a corner lot
- Approved plans and DeKalb County permit in place
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
$63,317
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
9.11%
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%
$1,266,340
$1.3M
Cap Rate 7%
$904,529
$904.5K
Cap Rate 9%
$703,522
$703.5K
Market Conditions
NOI Build-Up for 4,367 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
$117.9K $27.00/SF
− Vacancy
−$12.4K −$2.84/SF
EGI
$105.5K $24.17/SF
− OpEx
−$42.2K −$9.67/SF
NOI
$63.3K $14.50/SF
Area
DeKalb County, GA
Vacancy
10.50%
Lease Rate
$27.00 /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%
$1,266,340
Cap Rate 7%
$904,529
Cap Rate 9%
$703,522
Alternative Uses
Best Use
Healthcare Medical
$904.5K
$791.5K – $1.06M
NOI $63,317 @ 7.0% cap · market cap 9.11%
Second Best
Office B
$835.4K
$731.0K – $974.7K
NOI $58,479 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,452 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,944
Businesses Nearby
Explore this area
Business Placement
Demographics for 30084, GA
41,654
Population
15,950
Households
2.6
Avg Household Size
38
Median Age
42%
College-Educated
87%
High-School Grad
14.9 sq mi
ZIP Area
2,796
Density / Sq Mi
$82,747
Median Household Income
$42,528
Median Earnings
$1,617
Median Rent
$332,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Corner-lot office property with flexible interiors, approved plans, and permits supporting immediate renovation work.
Where is this office building located?
The property is located at 3193 Evelyn St Tucker, GA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 4,367‑square‑foot freestanding office building; 27 parking spaces on a corner lot; Approved plans and DeKalb County permit in place
