Office Building with Updated
For Sale
$199,900
385 Hawthorne Avenue, Athens, GA 30606
Compact office layout with private workrooms, reception space, kitchenette, full bath, and central air.
Property Size780 SF
Price / SF$256.28
Days on Market10
Property Features for 385 Hawthorne Avenue
General Information
Standard status
Active
Size
780 SF
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,768
Amenities
Central Air
3
Hardwood, Tile
Composition
Paved Driveway.
10454.4
In City, County Road, Paved Road.
Building Details
Year Built
1964
Buildings
1
Listing Agency:
Six String Realty
(706) 202-4053
Listed By:
Trent Gibson
(706) 202-4053
Source:
Xome
Added: Aug 8
Changed: Aug 15
Last Checked: Aug 17 at 3:37AM
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 Six String Realty
Investment Insights
Based on property information with market context.
This 780-square-foot office building, constructed in 1964, provides two offices alongside a waiting room, kitchenette, and full bathroom. Central air supports the interior, which combines hardwood and tile flooring. The space was repainted within the last 60 days, while the roof and exterior siding were completed within the past 3 years.
Located at 385 Hawthorne Avenue in Athens, the property offers access to Broad Street, Jefferson Highway (129), and the loop. The site has a paved driveway and sits along a paved county road. Reported average traffic volume is 19,000 VPD, adding measurable exposure for office or service-oriented operations.
Located at 385 Hawthorne Avenue in Athens, the property offers access to Broad Street, Jefferson Highway (129), and the loop. The site has a paved driveway and sits along a paved county road. Reported average traffic volume is 19,000 VPD, adding measurable exposure for office or service-oriented operations.
Key Highlights
- 780‑square‑foot office building on 385 Hawthorne Avenue
- Two offices, waiting room, kitchenette, and full bath
- Roof and exterior siding completed within the last 3 years
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
$10,096
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
5.05%
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%
$201,920
$201.9K
Cap Rate 7%
$144,229
$144.2K
Cap Rate 9%
$112,178
$112.2K
Market Conditions
NOI Build-Up for 780 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
$16.8K $21.60/SF
− Vacancy
−$3.4K −$4.34/SF
EGI
$13.5K $17.26/SF
− OpEx
−$3.4K −$4.31/SF
NOI
$10.1K $12.94/SF
Area
Athens, GA
Vacancy
20.10%
Lease Rate
$21.60 /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%
$201,920
Cap Rate 7%
$144,229
Cap Rate 9%
$112,178
Alternative Uses
Best Use
Office B
$144.2K
$126.2K – $168.3K
NOI $10,096 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$188.0K
$164.5K – $219.4K
NOI $13,162 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 30606, GA
46,798
Population
22,603
Households
2.1
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
30.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$61,397
Median Household Income
$35,854
Median Earnings
$1,222
Median Rent
$332,600
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 building - Compact office layout with private workrooms, reception space, kitchenette, full bath, and central air.
Where is this office building located?
The property is located at 385 Hawthorne Avenue Athens, GA.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 780‑square‑foot office building on 385 Hawthorne Avenue; Two offices, waiting room, kitchenette, and full bath; Roof and exterior siding completed within the last 3 years
