Corner Property with Storage
368 Phillips Street, Lawrenceville, GA 30043
Mixed-use property featuring a house, storage building, and carport.
Type:Commercial/Industrial
Property size:
1,200 SFLot size:
0.29 AcresPrice / SF:
$250/SF- Added:
- Mar 12, 2026
- Days on Market:
- 66
- Last Refresh:
- Apr 6 at 3:55 am
Property Features for 368 Phillips Street
General Information
- Standard status
- Active
- Size
- 1,200 SF
- Lot size
- 0.29 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1952
Listing agent Nury Suri License #162883
Listing office The Suri Group, Inc. (770) 729-9151
Listing date Mar 12, 2026
Source Exitrealty
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 The Suri Group, Inc.
HighLights
- Corner property with approximately 1200 sq ft 'House' plus detached storage building/garage and carport.
- Suitable for business or residential use; conversion to residential is possible.
- Main building features 3 ample rooms, a bath, and a large open rectangular room with kitchen facilities, plus 3 large bedroom/offices.
- Detached garage/storage building with covered carport provides additional parking.
- Paved parking accessible from side street entry.
- Main building has newer roof.
Overview
This corner property offers an excellent opportunity for a business person or investor. The main building, approximately 1200 square feet, features three ample rooms and a bath, along with a sizeable rectangular room with kitchen facilities in a corner area, and three large bedroom/offices. A "Florida Room" serves as a sitting/waiting area with a rear entrance from the parking area. Paved parking is accessible from a side street entry. A separate garage/storage building and a covered carport provide additional parking. The main building has a newer roof. The sellers are willing to work with prospects on improvements, repairs, or remodeling. The property can be converted to residential use. List business possibilities are available from the City of Lawrenceville or seller can provide.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$178.5K
NOI $16,069 @ 9.00% cap · cautious / downside scenario
Moderate
$229.6K
NOI $16,069 @ 7.00% cap · market / base-case scenario
Aggressive
$321.4K
NOI $16,069 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.6k | $23.87 |
| − Vacancy | −$7.2k | −$6.02 |
| EGI | $21.4k | $17.85 |
| − OpEx | −$5.4k | −$4.46 |
| NOI | $16.1k | $13.39 |
1,200 SF · lease $23.87/SF/yr · vacancy 25.20% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$229.6K
$200.9K – $267.8K
NOI $16,069 @ 7.0% cap · market cap 5.36%
Second Best
Mixed Use
$208.3K
$182.3K – $243.0K
NOI $14,580 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$335.4K
$293.5K – $391.4K
NOI $23,481 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Lawrenceville
- County
- Gwinnett
- State
- Georgia
- Longitude
- -83.9883
- Latitude
- 33.9441
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property featuring a house, storage building, and carport.
Where is this mixed-use property located?
The property is located at 368 Phillips Street Lawrenceville, GA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Corner property with approximately 1200 sq ft 'House' plus detached storage building/garage and carport.; Suitable for business or residential use; conversion to residential is possible.; Main building features 3 ample rooms, a bath, and a large open rectangular room with kitchen facilities, plus **3 large bedroom/offices**.
