Multi-Tenant Office
405 Gaines School Rd, Athens, GA 30605
For Sale
$750,000
Commercial Sale, Athens, GA
Property Size4,664 SF
Lot Size1.03 Acres
Price / SF$160.81
Days on Market68
Property Features for 405 Gaines School Rd
General Information
Property type
Property subtype
Zoning
Zoning description
Parking
Appliances
Directions
Standard status
APN
Lot size
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Building materials
Buildings
Listing Agency:
Virtual Properties Realty
(770) 495-5050
Listed By:
Jacob Blickenstaff · License GA #384940
(404) 281-5002
Added: Sep 4
Changed: Oct 31
Last Checked: Nov 10 at 9:06PM
MLS# CL364952
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multi-tenant office building was constructed in 1955 and is fully leased across six suites serving health care, wellness, and professional service users. Suite sizes range from approximately 250 to 2,700 square feet, with gross lease structures and a weighted average remaining lease term of about 3.0 years. The property carries C-O zoning and includes stucco construction, a central electric heating system, heat pump and central air conditioning, an electric water heater, public water, and public sewer.
The building is positioned at the corner of Gaines School Road and Ponderosa Drive in east Athens, with an Athens postal address in Clarke County. Its six-suite configuration provides a diversified office layout within a single commercial property.
The building is positioned at the corner of Gaines School Road and Ponderosa Drive in east Athens, with an Athens postal address in Clarke County. Its six-suite configuration provides a diversified office layout within a single commercial property.
Key Highlights
- Fully leased across six office suites
- Suite sizes range from approximately 250 to 2,700 SF
- Weighted average remaining lease term of about 3.0 years
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
6
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
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
$279,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 office property with six suites and C-O zoning in east Athens.
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: Fully leased across six office suites; Suite sizes range from approximately 250 to 2,700 SF; Weighted average remaining lease term of about 3.0 years
