Small Office Building with Waiting
For Sale
$199,900
385 Hawthorne Avenue, Athens, GA 30606
Commercial Sale, Athens, GA
Property Size780 SF
Lot Size0.24 Acres
Price / SF$256.28
Days on Market54
Property Features for 385 Hawthorne Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
City Lot, Near Public Transit
Directions
From Hwy 129, turn on Hawthorne Ave. Once you cross over Oglethorpe Ave, property will be on the right across from Car Craft. From Broad St, turn on Hawthorne Ave and property will be on the left across from Car Craft.
Standard status
Active
APN
121B4 B025
Size
780 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2768
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Flooring type
Tile, Hardwood
Building materials
Frame, Wood Siding
Roof type
Composition
Listing Agency:
Six String Realty
(706) 389-4634
Listed By:
Trent Gibson
(706) 202-4053
Added: Aug 10
Changed: Sep 15
Last Checked: Oct 2 at 10:06PM
MLS# 10822664
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 780-square-foot office building was constructed in 1964 and includes two offices, a waiting room, kitchen, and full bath. Tile and hardwood flooring, central heating, and central air are included. The interior was painted within the last 60 days, while the roof and exterior siding were completed within the last 3 years.
The property is located in Athens, Georgia, with access to Broad Street, Jefferson Highway (129), and the loop. It offers 19,000 VPD average visibility and includes public water, public sewer, and cable availability. The building has a frame structure with wood siding and a composition roof.
The property is located in Athens, Georgia, with access to Broad Street, Jefferson Highway (129), and the loop. It offers 19,000 VPD average visibility and includes public water, public sewer, and cable availability. The building has a frame structure with wood siding and a composition roof.
Key Highlights
- 780‑square‑foot office building on a 0.24‑acre lot
- Two offices plus a waiting room, kitchen, and full bath
- Interior painted within the last 60 days
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-office commercial property with a kitchen, full bath, central HVAC, and recently refreshed interior finishes.
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 a 0.24‑acre lot; Two offices plus a waiting room, kitchen, and full bath; Interior painted within the last 60 days
