Building Details

Year Built 1986

Building Size 21,000 SF

Tenancy Multi

Listing Agency: RE/MAX LIVING

Listed By: LYNN BROGDON · License #298128 Show Phone

Source: Corcoran

Added: Nov 11, 2025 Changed: Oct 16 Last Checked: Oct 16 at 9:21AM

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Investment Insights

Based on property information with market context.

Located at 328 Commerce in Athens, this 21,000-square-foot flex property offers approximately 3.4 acres with a multi-suite configuration. Built in 1986, the facility pairs finished office areas with warehouse space suited to production, assembly, or storage. Office improvements include private offices, conference rooms, kitchenette break rooms, and restrooms.

Each suite includes at least one roll-up door and dock-height loading area. The site also provides a gated entrance and paved parking for employees and visitors. Access to Hwy 316 and Loop 10 supports connections toward the Atlanta metro area and the I-85 corridor. The property is situated in west Athens among distribution centers, construction suppliers, and light manufacturing businesses.

Key Highlights

• 21,000 square feet of finished flex space on approximately 3.4 acres
• Multiple suites with office and warehouse areas
• At least one roll‑up door and dock‑height loading area per suite

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$271,820

Cap Rate

7.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,436,400 $5.4M

Cap Rate 7%

$3,883,143 $3.9M

Cap Rate 9%

$3,020,222 $3.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 21,000 SF

Gross rent

$453.6K $21.60/SF

− Vacancy

−$91.2K −$4.34/SF

EGI

$362.4K $17.26/SF

− OpEx

−$90.6K −$4.31/SF

NOI

$271.8K $12.94/SF

Area

Athens, GA

Vacancy

20.10%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,436,400

Cap Rate 7%

$3,883,143

Cap Rate 9%

$3,020,222

Alternative Uses

Best Use

Office B

$3.88M

$3.40M – $4.53M (±1% cap)

NOI $271,820 @ 7.0% cap · market cap 7.99%

Second Best

Warehouse

$2.20M

$1.93M – $2.57M (±1% cap)

NOI $154,158 @ 7.0% cap · market cap 4.53%

Theoretical Best

Office A

$5.06M

$4.43M – $5.91M (±1% cap)

NOI $354,372 @ 7.0% cap · market cap 10.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 30606, GA

46,798

Population

22,603

Households

2.1

Avg Household Size

33

Median Age

52%

College-Educated

93%

High-School Grad

30.7 sq mi

ZIP Area

1,524

Density / Sq Mi

$61,397

Median Household Income

$35,854

Median Earnings

$1,222

Median Rent

$332,600

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Multiple suites combine office amenities with warehouse areas and loading access.

Where is this flex space located?

The property is located at 328 Commerce Athens, GA.

What is the asking price?

The asking price for this property is $3,400,000.

What are key features of this property?

This property features: 21,000 square feet of finished flex space on approximately 3.4 acres; Multiple suites with office and warehouse areas; At least one roll‑up door and dock‑height loading area per suite