C3-Zoned Storefront
For Sale
$350,000
3228 Lusk Drive, Smyrna, GA 30080
Commercial space in Cobb County includes an on-site parking lot.
Property Size1,290 SF
Days on Market172
Property Features for 3228 Lusk Drive
General Information
Standard status
Active
Size
1,290 SF
Total Parking Spaces
6
Zoning
C3 -
Taxes and HOA fees
Annual Taxes
$1,820
Amenities
Accessible Entrance, Accessible Approach with Ramp
Window Unit(s)
Central
City
Parking Lot
Building Details
Building Size
1,290 SF
Year Built
1949
Buildings
1
Listing Agency:
Atlanta Fine Homes Sotheby's International Realty
(770) 313-5190
Listed By:
Andrew Duncan · License #372831
(770) 313-5190
Source:
Evrealestate
Added: Mar 13
Changed: Aug 29
Last Checked: Aug 30 at 1:27PM
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 Atlanta Fine Homes Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 1949, this storefront property is zoned C3 and includes an on-site parking lot. The asset is located at 3228 Lusk Drive in Smyrna, within Cobb County, providing a defined commercial setting for retail-oriented occupancy or ownership.
From I-285, access follows Exit 18 toward GA-280/Paces Ferry Road and continues north on GA-280 N/S Cobb Drive. The property is reached by turning onto Lusk Drive SE after approximately 3.2 miles, with the site positioned on the left. The available property information identifies city services and a parking lot among the exterior features.
From I-285, access follows Exit 18 toward GA-280/Paces Ferry Road and continues north on GA-280 N/S Cobb Drive. The property is reached by turning onto Lusk Drive SE after approximately 3.2 miles, with the site positioned on the left. The available property information identifies city services and a parking lot among the exterior features.
Key Highlights
- C3 zoning designation
- 1949 construction year
- On‑site parking lot
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
$18,144
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
5.18%
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%
$362,880
$362.9K
Cap Rate 7%
$259,200
$259.2K
Cap Rate 9%
$201,600
$201.6K
Market Conditions
NOI Build-Up for 1,290 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
$28.3K $21.96/SF
− Vacancy
−$2.4K −$1.87/SF
EGI
$25.9K $20.09/SF
− OpEx
−$7.8K −$6.03/SF
NOI
$18.1K $14.07/SF
Area
Cobb County, GA
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$362,880
Cap Rate 7%
$259,200
Cap Rate 9%
$201,600
Alternative Uses
Best Use
Retail
$259.2K
$226.8K – $302.4K
NOI $18,144 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$362.2K
$317.0K – $422.6K
NOI $25,356 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,027
Businesses Nearby
317k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Groceries 24%
Shops & Services 22%
Apparel 5%
Kroger
Groceries
63,790 visits/mo
0.3 miles
Chick-fil-A
Dining
40,507 visits/mo
0.3 miles
McDonald's
Dining
33,277 visits/mo
0.2 miles
Kroger Fuel Center
Shops & Services
22,557 visits/mo
0.2 miles
Dunkin' Donuts
Dining
14,362 visits/mo
0.1 miles
Demographics for 30080, GA
52,125
Population
27,081
Households
1.9
Avg Household Size
35
Median Age
58%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
4,137
Density / Sq Mi
$87,949
Median Household Income
$59,267
Median Earnings
$1,660
Median Rent
$409,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Southern Elegance Florist
- Concord Florist & Flower Delivery Smyrna GA — 760 Concord Rd SE, Smyrna, GA 30082
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial space in Cobb County includes an on-site parking lot.
Where is this storefront property located?
The property is located at 3228 Lusk Drive Smyrna, GA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: C3 zoning designation; 1949 construction year; On‑site parking lot
