Historic Bed and Breakfast
For Sale
$700,000
421 E Greene Street, Monticello, GA 31064
Commercial Sale, Monticello, GA
Property Size3,199 SF
Lot Size1.85 Acres
Price / SF$218.82
Days on Market90
Property Features for 421 E Greene Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Res
Parking
8
Window features
Shutters
Accessibility
Accessible Approach with Ramp
Lot features
Level, Private
View
City
Directions
GPS will be best to direct you
Standard status
Active
APN
M05B 033
Size
3,199 SF
Lot size
1.85 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6078
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1820
Floors in Building
2
Flooring type
Hardwood, Tile
Building materials
Brick, Wood Siding
Roof type
Asphalt
Additional Structures
Other
Listing Agency:
Keller Williams Realty West Atlanta
(470) 907-8266
Listed By:
Shatima Tankson · License #367733
(404) 809-6350
Added: Jun 30
Changed: Sep 18
Last Checked: Sep 27 at 1:06AM
MLS# 7796840
Copyright © 2026 First Multiple Listing Service, Inc. 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.
Built in 1820, this 3,199-square-foot bed and breakfast property occupies 1.85 acres and is zoned Res. The estate retains historic character through brick and wood siding, hardwood and tile flooring, Colonial pillars, a broad front porch, window-lined parlors, and multiple gathering rooms. A fully equipped commercial-grade catering kitchen, restaurant-style sunroom, dining area, courtyard, outdoor entertainment areas, and upper-level deck support hospitality and event functions.
The property includes an ensuite living quarter on the main level and 4 additional rentable living quarters upstairs, served by 3 bathing areas. Additional interior spaces include a great room, keeping room, living room, and large dining area. An accessible approach with ramp, central heating, central air, asphalt roofing, and cable availability are also present. The estate is listed on the National Register of Historic Places and includes a Georgia historical marker.
The property includes an ensuite living quarter on the main level and 4 additional rentable living quarters upstairs, served by 3 bathing areas. Additional interior spaces include a great room, keeping room, living room, and large dining area. An accessible approach with ramp, central heating, central air, asphalt roofing, and cable availability are also present. The estate is listed on the National Register of Historic Places and includes a Georgia historical marker.
Key Highlights
- 1820‑built historic estate with 3,199 square feet on 1.85 acres
- Operating bed and breakfast and hospitality venue with permissions in place
- Fully equipped commercial‑grade catering kitchen and restaurant‑style sunroom
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
$42,838
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
6.12%
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%
$856,760
$856.8K
Cap Rate 7%
$611,971
$612.0K
Cap Rate 9%
$475,978
$476.0K
Market Conditions
NOI Build-Up for 3,199 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
$76.4K $23.87/SF
− Vacancy
−$19.2K −$6.02/SF
EGI
$57.1K $17.85/SF
− OpEx
−$14.3K −$4.46/SF
NOI
$42.8K $13.39/SF
Area
Jasper 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%
$856,760
Cap Rate 7%
$611,971
Cap Rate 9%
$475,978
Alternative Uses
Best Use
Office B
$612.0K
$535.5K – $714.0K
NOI $42,838 @ 7.0% cap · market cap 6.12%
Second Best
Mixed Use
$555.3K
$485.9K – $647.8K
NOI $38,868 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$894.2K
$782.5K – $1.04M
NOI $62,597 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 31064, GA
9,880
Population
4,264
Households
2.3
Avg Household Size
41
Median Age
23%
College-Educated
91%
High-School Grad
245.7 sq mi
ZIP Area
40
Density / Sq Mi
$56,961
Median Household Income
$37,557
Median Earnings
$1,020
Median Rent
$223,100
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?
Bed & breakfast - Historic hospitality property with a commercial kitchen, guest quarters, dining areas, and outdoor event spaces.
Where is this bed & breakfast located?
The property is located at 421 E Greene Street Monticello, GA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 1820‑built historic estate with 3,199 square feet on 1.85 acres; Operating bed and breakfast and hospitality venue with permissions in place; Fully equipped commercial‑grade catering kitchen and restaurant‑style sunroom
