Renovated Office Building with
For Sale
$348,000
333 Alcovy #5, Monroe, GA 30655
Newly renovated office building with a reception area, conference room, break room, and seven office suites.
Property Size1,600 SF
Price / SF$217.50
Days on Market236
Property Features for 333 Alcovy #5
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial
Additional Details
Office Units
7
Amenities
reception area
conference room
break room
bathrooms
parking lot
Central air
Accessible Approach with Ramp
Central Air Cooling
Composition Roof
Electric Heating
Heat Pump Cooling
Heating Heating
Vinyl Flooring
Building Details
Year Built
1966
Listing Agency:
MALCOM & MALCOM
Listed By:
LEE MALCOM · License #203677
(404) 218-2213
Source:
Corcoran
Added: Jan 14
Changed: Aug 11
Last Checked: Sep 6 at 9:15AM
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 MALCOM & MALCOM
Investment Insights
Based on property information with market context.
This newly renovated commercial office building offers a reception area, a conference room, and a break room, along with seven office suites designed for a range of office uses. The building includes two bathrooms for employee and visitor convenience.
Located in downtown Monroe, the property is described as benefiting from high visibility and foot traffic. Parking is available in a connected parking lot for employees and clients.
Overall, the layout combines common-area functionality with multiple private office suites, supported by two restrooms and the reception-to-meeting flow intended for regular customer or guest traffic.
Located in downtown Monroe, the property is described as benefiting from high visibility and foot traffic. Parking is available in a connected parking lot for employees and clients.
Overall, the layout combines common-area functionality with multiple private office suites, supported by two restrooms and the reception-to-meeting flow intended for regular customer or guest traffic.
Key Highlights
- Newly renovated commercial office building built in 1966 with 1,600 SF
- Reception area plus a conference room for client meetings and collaboration
- Break room and seven versatile office suites for flexible office use
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
$21,426
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
6.16%
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%
$428,520
$428.5K
Cap Rate 7%
$306,086
$306.1K
Cap Rate 9%
$238,067
$238.1K
Market Conditions
NOI Build-Up for 1,600 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
$38.2K $23.87/SF
− Vacancy
−$9.6K −$6.02/SF
EGI
$28.6K $17.85/SF
− OpEx
−$7.1K −$4.46/SF
NOI
$21.4K $13.39/SF
Area
Walton County, GA
Vacancy
25.20%
Lease Rate
$23.87 /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%
$428,520
Cap Rate 7%
$306,086
Cap Rate 9%
$238,067
Alternative Uses
Best Use
Office B
$306.1K
$267.8K – $357.1K
NOI $21,426 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$449.3K
$393.1K – $524.2K
NOI $31,450 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Office units
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 30655, GA
27,541
Population
10,212
Households
2.7
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
83.0 sq mi
ZIP Area
332
Density / Sq Mi
$68,292
Median Household Income
$39,472
Median Earnings
$1,099
Median Rent
$290,900
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 units - Newly renovated office building with a reception area, conference room, break room, and seven office suites.
Where is this office units located?
The property is located at 333 Alcovy #5 Monroe, GA.
What is the asking price?
The asking price for this property is $348,000.
What are key features of this property?
This property features: Newly renovated commercial office building built in 1966 with 1,600 SF; Reception area plus a conference room for client meetings and collaboration; Break room and seven versatile office suites for flexible office use
