Multi-Tenant Office
405 Gaines School Rd, Athens, GA 30605
For Sale
$750,000
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 Market78
Property Features for 405 Gaines School Rd
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Net Operating Income
Financials
Asking Price
Cap Rate
Additional Details
Office Units
Building Details
Year Built
Buildings
Building Size
Tenancy
Listing Agency:
UC Premier Properties
Listed By:
Jacob Blickenstaff · License #384940
(404) 281-5002
Source:
Atlantagahomesearch
Added: Aug 24
Changed: Nov 1
Last Checked: Nov 8 at 7:04AM
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
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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 / Yr
$60,370
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
Who owns this building?
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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
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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
$279,200
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Clarke County, GA
Properties on Market for Office buildings in Clarke County
Vacancy Rate% for Office in South region
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
