10-Unit Flex Industrial
For Sale
$1,750,000
367 N Clarendon Avenue Unit 1, Scottdale, GA 30079
Ten separately configured condominium spaces combine warehouse areas with loft offices and roll-up access.
Property Size9,000 SF
Days on Market15
Property Features for 367 N Clarendon Avenue Unit 1
General Information
Standard status
Active
Size
9,000 SF
Property subtype
Industrial
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,124
Building Details
Building Size
9,000 SF
Year Built
2006
Listing Agency:
Simple Showing, Inc.
(404) 938-1450
Listed By:
Fred McGill Jr · License #3254207
Source:
Evatlanta
Added: Aug 6
Changed: Aug 18
Last Checked: Aug 20 at 12:25PM
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 Simple Showing, Inc.
Investment Insights
Based on property information with market context.
Built in 2006, this flex property is configured as 10 individual industrial and office condominium units. Each unit includes a loft office, roll-up garage door, warehouse floor area, one bathroom, and a dedicated electrical panel and meter. The property has a single shared water meter serving the building.
Occupancy is reported at 90%. Units may be separated and sold individually. Recent improvements include repainting the building and repaving part of the parking lot. Parking is available on site, and the property borders the Avondale walking trail.
Occupancy is reported at 90%. Units may be separated and sold individually. Recent improvements include repainting the building and repaving part of the parking lot. Parking is available on site, and the property borders the Avondale walking trail.
Key Highlights
- 10 industrial and office condominium units
- 90% occupied
- Each unit includes a loft office, roll‑up garage door, warehouse area, one bathroom, and dedicated electrical panel/meter
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
$120,520
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
6.89%
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%
$2,410,400
$2.4M
Cap Rate 7%
$1,721,714
$1.7M
Cap Rate 9%
$1,339,111
$1.3M
Market Conditions
NOI Build-Up for 9,000 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
$214.8K $23.87/SF
− Vacancy
−$54.1K −$6.02/SF
EGI
$160.7K $17.85/SF
− OpEx
−$40.2K −$4.46/SF
NOI
$120.5K $13.39/SF
Area
DeKalb 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%
$2,410,400
Cap Rate 7%
$1,721,714
Cap Rate 9%
$1,339,111
Alternative Uses
Best Use
Office B
$1.72M
$1.51M – $2.01M
NOI $120,520 @ 7.0% cap · market cap 6.89%
Second Best
Warehouse
$943.8K
$825.9K – $1.10M
NOI $66,068 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$2.52M
$2.20M – $2.94M
NOI $176,109 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30079, GA
3,696
Population
1,762
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
1.2 sq mi
ZIP Area
3,080
Density / Sq Mi
$70,833
Median Household Income
$45,509
Median Earnings
$1,094
Median Rent
$280,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Ten separately configured condominium spaces combine warehouse areas with loft offices and roll-up access.
Where is this flex space located?
The property is located at 367 N Clarendon Avenue Unit 1 Scottdale, GA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 10 industrial and office condominium units; 90% occupied; Each unit includes a loft office, roll‑up garage door, warehouse area, one bathroom, and dedicated electrical panel/meter
