Multi-Tenant Office
New
For Sale
$750,000
405 Gaines School Rd, Athens, GA 30605
Fully leased six-suite property serving health care, wellness, and professional service occupants.
Property Size4,664 SF
Lot Size1.09 Acres
Price / SF$160.81
Days on Market6
Property Features for 405 Gaines School Rd
General Information
Standard status
Active
Size
4,664 SF
Lot size
1.09 Acres
Property subtype
Commercial
Occupancy
100%
Net Operating Income
$51,811
Financials
Asking Price
$750,000
Cap Rate
6.91%
Additional Details
Office Units
6
Building Details
Year Built
1955
Buildings
1
Building Size
4,664 SF
Tenancy
Multi
Listing Agency:
UC Premier Properties
Listed By:
Jacob Blickenstaff · License #384940
(770) 495-5050
Source:
Atlantagahomesearch
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 22 at 2:47PM
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 UC Premier Properties
Investment Insights
Based on property information with market context.
Built in 1955, this 4,664-square-foot office property contains six suites serving health care, wellness, and professional service occupants. Suite sizes range from approximately 250 to 2,700 square feet, providing a varied configuration within the building. The property encompasses 1.089 acres and is positioned at the corner of Gaines School Road and Ponderosa Drive in east Athens.
All suites are leased under gross lease structures, with a weighted average remaining lease term of approximately 3.0 years. Operating expenses represent 32.0% of gross income, or $5.24 per square foot. The offering includes access to rent roll, lease abstracts, and operating detail for qualified buyers under a confidentiality agreement.
All suites are leased under gross lease structures, with a weighted average remaining lease term of approximately 3.0 years. Operating expenses represent 32.0% of gross income, or $5.24 per square foot. The offering includes access to rent roll, lease abstracts, and operating detail for qualified buyers under a confidentiality agreement.
Key Highlights
- 4,664 SF office building on 1.089 acres
- Six leased suites serving health care, wellness, and professional service users
- Suite sizes range from roughly 250 to 2,700 SF
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
$60,370
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
8.05%
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%
$1,207,400
$1.2M
Cap Rate 7%
$862,429
$862.4K
Cap Rate 9%
$670,778
$670.8K
Market Conditions
NOI Build-Up for 4,664 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
$100.7K $21.60/SF
− Vacancy
−$20.2K −$4.34/SF
EGI
$80.5K $17.26/SF
− OpEx
−$20.1K −$4.31/SF
NOI
$60.4K $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%
$1,207,400
Cap Rate 7%
$862,429
Cap Rate 9%
$670,778
Alternative Uses
Best Use
Office B
$862.4K
$754.6K – $1.01M
NOI $60,370 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$983.8K – $1.31M
NOI $78,704 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Explore this area
Business Placement
Demographics for 30605, GA
43,205
Population
18,387
Households
2.3
Avg Household Size
28
Median Age
53%
College-Educated
91%
High-School Grad
38.2 sq mi
ZIP Area
1,131
Density / Sq Mi
$48,188
Median Household Income
$24,933
Median Earnings
$1,104
Median Rent
$279,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Fully leased six-suite property serving health care, wellness, and professional service occupants.
Where is this office building located?
The property is located at 405 Gaines School Rd Athens, GA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 4,664 SF office building on 1.089 acres; Six leased suites serving health care, wellness, and professional service users; Suite sizes range from roughly 250 to 2,700 SF
