Renovated Professional Office
For Sale
Contact for pricing
3985 Steve Reynolds Boulevard, Norcross, GA 30093
Move-in ready office building with reception, multiple private offices, conference rooms, and dedicated amenities for staff.
Property Size4,500 SF
Price / SF$288.89
Days on Market103
Property Features for 3985 Steve Reynolds Boulevard
General Information
Standard status
Active
Size
4,500 SF
Class
B
Property subtype
Office
Zoning
AA030
Lease Type
Modified Gross
Additional Details
Highway Access
Yes
Office Units
8
Building Details
Year Built
2007
Year Renovated
2025
Buildings
1
Units
20
Tenancy
Single
Listing Agency:
KW Commercial Atlanta - Chattahoochee North
Listed By:
David McEachern · License #GA303085
Source:
Crexi
Added: Jun 10
Changed: Sep 14
Last Checked: Sep 19 at 6:45AM
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 KW Commercial Atlanta - Chattahoochee North
Investment Insights
Based on property information with market context.
This beautifully renovated professional office building offers 4,500 square feet of move-in ready space arranged for professional workflows. The interior includes a welcoming reception area and dedicated waiting room, along with eight private offices, two conference rooms, and a flexible collaboration space suitable for team meetings and project work. Recent modern updates are reflected throughout the building, supporting an executive-level work environment. Additional in-suite amenities include a kitchen with break room area, washer and dryer, and a full shower facility.
The property is located at 3985 Steve Reynolds Boulevard in Building P, in an established Gwinnett County commercial corridor. Convenient access is provided to I-85 and Jimmy Carter Blvd, supporting connectivity throughout Metro Atlanta. The building is finished with an attractive brick exterior, benefits from abundant natural light, and includes ample parking for visitors and employees.
With a layout that combines client-facing space with multiple private offices and meeting rooms, this property is well suited for owner-users seeking a headquarters-style office. It supports a range of professional uses, including law firms, insurance and accounting practices, engineering and technology offices, real estate operations, and medical practices that require dedicated exam or consultation space within a professional office setting.
The property is located at 3985 Steve Reynolds Boulevard in Building P, in an established Gwinnett County commercial corridor. Convenient access is provided to I-85 and Jimmy Carter Blvd, supporting connectivity throughout Metro Atlanta. The building is finished with an attractive brick exterior, benefits from abundant natural light, and includes ample parking for visitors and employees.
With a layout that combines client-facing space with multiple private offices and meeting rooms, this property is well suited for owner-users seeking a headquarters-style office. It supports a range of professional uses, including law firms, insurance and accounting practices, engineering and technology offices, real estate operations, and medical practices that require dedicated exam or consultation space within a professional office setting.
Key Highlights
- 2007‑built, move‑in ready 4,500 SF professional office building at 3985 Steve Reynolds Blvd, Building P
- Layout includes reception area, dedicated waiting room, 8 private offices, 2 conference rooms, and a collaboration space
- Renovated office interior with updated modern touches throughout
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
$60,260
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
4.64%
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%
$1,205,200
$1.2M
Cap Rate 7%
$860,857
$860.9K
Cap Rate 9%
$669,556
$669.6K
Market Conditions
NOI Build-Up for 4,500 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
$107.4K $23.87/SF
− Vacancy
−$27.1K −$6.02/SF
EGI
$80.3K $17.85/SF
− OpEx
−$20.1K −$4.46/SF
NOI
$60.3K $13.39/SF
Area
Gwinnett 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%
$1,205,200
Cap Rate 7%
$860,857
Cap Rate 9%
$669,556
Alternative Uses
Best Use
Office B
$860.9K
$753.3K – $1.00M
NOI $60,260 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,055 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
731
Businesses Nearby
Explore this area
Business Placement
Demographics for 30093, GA
55,364
Population
20,303
Households
2.7
Avg Household Size
31
Median Age
21%
College-Educated
69%
High-School Grad
12.0 sq mi
ZIP Area
4,614
Density / Sq Mi
$50,690
Median Household Income
$34,643
Median Earnings
$1,574
Median Rent
$245,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Move-in ready office building with reception, multiple private offices, conference rooms, and dedicated amenities for staff.
Where is this office building located?
The property is located at 3985 Steve Reynolds Boulevard Norcross, GA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 2007‑built, move‑in ready 4,500 SF professional office building at 3985 Steve Reynolds Blvd, Building P; Layout includes reception area, dedicated waiting room, 8 private offices, 2 conference rooms, and a collaboration space; Renovated office interior with updated modern touches throughout
