Building Details

Stories 2

Listing Agency: Michael Bailey Commercial Realty

Listed By: Michael Bailey · License #GA H79944 Show Phone

Source: Crexi

Added: Mar 26 Changed: Aug 26 Last Checked: Sep 2 at 7:15AM

Report an Issue

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 Michael Bailey Commercial Realty

Investment Insights

Based on property information with market context.

This offering includes a 14,046 SF building situated on 1.6 acres and operating as a gun shop and shooting range. The business is currently in operation, and the firearms and other merchandise inventory is also available.

The property fronts Holly Springs Pkwy and presents an existing retail-focused setup that may support alternative uses, including restaurant, medical use, indoor self-storage, or other retail, subject to applicable requirements.

If you are considering a tour, please be discreet during your visit.

Key Highlights

• Freestanding retail building totaling 14,046 SF on 1.6 acres directly on Holly Springs Pkwy.
• Currently operating as a gun shop and shooting range.
• Business and inventory of firearms and other merchandise are available with the property.

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

$197,562

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

8.98%

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%

$3,951,240 $4.0M

Cap Rate 7%

$2,822,314 $2.8M

Cap Rate 9%

$2,195,133 $2.2M

Market Conditions

NOI Build-Up for 14,046 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

$308.5K $21.96/SF

− Vacancy

−$26.2K −$1.87/SF

EGI

$282.2K $20.09/SF

− OpEx

−$84.7K −$6.03/SF

NOI

$197.6K $14.07/SF

Area

Cherokee County, GA

Vacancy

8.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

30.00%

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%

$3,951,240

Cap Rate 7%

$2,822,314

Cap Rate 9%

$2,195,133

Alternative Uses

Best Use

Retail

$2.82M

$2.47M – $3.29M (±1% cap)

NOI $197,562 @ 7.0% cap · market cap 8.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.94M

$3.45M – $4.60M (±1% cap)

NOI $276,088 @ 7.0% cap · market cap 12.55%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Zero Tolerance - Basic ... Training Center

Suggested Use

Top Pick Spa & Massage Center Hair Salon HVAC Service Parking Lot & Garage Dental Office Nail Salon

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

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

215

Businesses Nearby

42k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Home Improvements & Furnishings 95% Electronics 3% Shops & Services 1%

The Home Depot Home Improvements & Furnishings

39,008 visits/mo 0.3 miles

Verizon Electronics

1,427 visits/mo 0.5 miles

Mattress Firm Home Improvements & Furnishings

897 visits/mo 0.5 miles

Prime Storage Shops & Services

500 visits/mo 0.2 miles

Demographics for 30115, GA

49,804

Population

19,016

Households

2.6

Avg Household Size

40

Median Age

38%

College-Educated

93%

High-School Grad

73.2 sq mi

ZIP Area

680

Density / Sq Mi

$113,346

Median Household Income

$49,893

Median Earnings

$1,739

Median Rent

$439,600

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Retail space - Freestanding retail building on 1.6 acres on Holly Springs Pkwy, operating as a gun shop and shooting range.

Where is this retail space located?

The property is located at 3800 Holly Springs Pkwy Holly Springs, GA.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: Freestanding retail building totaling 14,046 SF on 1.6 acres directly on Holly Springs Pkwy.; Currently operating as a gun shop and shooting range.; Business and inventory of firearms and other merchandise are available with the property.