Two-Story Office Building with
337 S Milledge Avenue Athens Athens, GA 30605
New
337 S Milledge Avenue Athens, Athens, GA, 30605
$7,800,000
For Sale
$7,800,000
Two-story office building on South Milledge Avenue with additional Harris Street frontage and 119 parking spaces.
Property Size21,824 SF
Price / SF$357.40
Days on Market3
Property Features for 337 S Milledge Avenue Athens
General Information
- Standard status
- Active
- Size
- 21,824 SF
Building Details
- Year Built
- 1968
Listing Agency
(614) 924-7750
Listed by
David Tshibambe
(614) 924-7750
Source
Red1realty
Added: Jul 15 Checked: Jul 17 at 2:41 am
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 David Tshibambe
Investment Insights
Based on property information with market context.
This two-story office building offers approximately 22,000 square feet of commercial space, and is presented for sale for the first time. The property is configured to serve office use and includes 119 parking spaces for tenants and visitors.
The building has double road frontage on Milledge Avenue and Harris Street, providing visibility and access from both streets. It is located near Downtown Athens and Five Points, with the provided location description noting proximity to West Broad Street.
The property also includes a parking lot that generates income from rental agreements tied to game days and other special events, according to the public remarks.
The building has double road frontage on Milledge Avenue and Harris Street, providing visibility and access from both streets. It is located near Downtown Athens and Five Points, with the provided location description noting proximity to West Broad Street.
The property also includes a parking lot that generates income from rental agreements tied to game days and other special events, according to the public remarks.
Key Highlights
- Two‑story office building in the Milledge Avenue Historic District with about 22,000 SF (per tax record).
- Double road frontage on Milledge Avenue and Harris Street.
- Located on South Milledge Avenue, about 0.25 miles from West Broad Street.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $471.4k | $21.60 |
| − Vacancy | −$94.8k | −$4.34 |
| EGI | $376.6k | $17.26 |
| − OpEx | −$94.2k | −$4.31 |
| NOI | $282.5k | $12.94 |
21,824 SF · lease $21.60/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.04M
$3.53M – $4.71M
NOI $282,485 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.26M
$4.60M – $6.14M
NOI $368,277 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Batesoft
Computer & Electronic Repair
IONX3 Technologies, Inc.
Tech Support Center
Greener Accounting & Tax ...
Tax Preparation
K. R. Love ...
Consultant
Kenneth Dious & Associates
Law Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Two-story office building on South Milledge Avenue with additional Harris Street frontage and 119 parking spaces.
Where is this office building located?
The property is located at 337 S Milledge Avenue Athens Athens, GA.
What is the asking price?
The asking price for this property is $7,800,000.
What are key features of this property?
This property features: Two‑story office building in the Milledge Avenue Historic District with about 22,000 SF (per tax record).; Double road frontage on Milledge Avenue and Harris Street.; Located on South Milledge Avenue, about 0.25 miles from West Broad Street.
