Flex Space with Heated
For Sale
$825,000
3232 21 Highway, Rincon, GA 31326
Commercial Sale, Rincon, GA
Property Size3,775 SF
Lot Size4.00 Acres
Price / SF$218.54
Days on Market53
Property Features for 3232 21 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-3
Zoning description
Commercial
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2
Parking
6
Appliances
Electric Water Heater
Directions
From I-95, take Exit 109 (GA Highway 21 North) toward Rincon/Springfield. Continue north on GA Highway 21 for approximately 12 miles. Pass through the City of Rincon and continue south of the main commercial corridor. The property, located at 3232 Highway 21 South, will be on the right.
Standard status
Active
APN
04300-00000-009-A00
Size
3,775 SF
Lot size
4.00 Acres
Taxes and HOA fees
Tax Description
2.00 AC PAR A (OUT 89-43)
Legal Description
2.00 AC PAR A (OUT 89-43)
Utilities
Sewer type
Septic Tank
Water source
Well, Private
Building Details
Year built
2004
Floors in Building
1
Flooring type
Concrete
Building materials
Steel
Roof type
Metal
Listing Agency:
Georgia Real Estate and Manage
(912) 228-3533
Listed By:
Lisa Hurst · License #183282
(912) 663-5036
Added: Jul 1
Changed: Aug 20
Last Checked: Aug 22 at 6:06PM
MLS# SA359634
Copyright © 2026 Hive MLS. 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.
This flex property includes a 3,775-square-foot steel building with two private offices, climate-controlled office space, two bathrooms, and a heated shop area. The concrete-floored facility has a metal roof and is equipped with a paint booth, frame machine, air compressor, and ventilation fans. A well and private septic system serve the property, which was built in 2004.
The sale encompasses 4 acres at 3232 21 Highway in Rincon, including a commercial parcel and an additional 2-acre residentially zoned parcel identified as Parcel No. 04300009. The site provides room for parking and equipment storage, with additional land beyond the existing building.
The sale encompasses 4 acres at 3232 21 Highway in Rincon, including a commercial parcel and an additional 2-acre residentially zoned parcel identified as Parcel No. 04300009. The site provides room for parking and equipment storage, with additional land beyond the existing building.
Key Highlights
- 3,775‑square‑foot flex building on 4 acres
- Two private offices, climate‑controlled workspace, and two bathrooms
- Heated shop with paint booth, frame machine, air compressor, and ventilation fans
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
$56,660
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
6.87%
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%
$1,133,200
$1.1M
Cap Rate 7%
$809,429
$809.4K
Cap Rate 9%
$629,556
$629.6K
Market Conditions
NOI Build-Up for 3,775 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
$97.4K $25.80/SF
− Vacancy
−$10.2K −$2.71/SF
EGI
$87.2K $23.09/SF
− OpEx
−$30.5K −$8.08/SF
NOI
$56.7K $15.01/SF
Area
Effingham County, GA
Vacancy
10.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
35.00%
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%
$1,133,200
Cap Rate 7%
$809,429
Cap Rate 9%
$629,556
Alternative Uses
Best Use
Warehouse
$3.53M
$3.09M – $4.12M
NOI $246,959 @ 7.0% cap · market cap 29.93%
Second Best
Industrial
$2.91M
$2.54M – $3.39M
NOI $203,378 @ 7.0% cap · market cap 24.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31326, GA
22,449
Population
9,465
Households
2.4
Avg Household Size
37
Median Age
29%
College-Educated
94%
High-School Grad
68.6 sq mi
ZIP Area
327
Density / Sq Mi
$82,196
Median Household Income
$47,234
Median Earnings
$1,141
Median Rent
$244,300
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Steel commercial facility with climate-controlled offices, service equipment, and additional land for parking or storage.
Where is this flex space located?
The property is located at 3232 21 Highway Rincon, GA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 3,775‑square‑foot flex building on 4 acres; Two private offices, climate‑controlled workspace, and two bathrooms; Heated shop with paint booth, frame machine, air compressor, and ventilation fans
