Watkinsville Office Building For
For Sale
Contact for pricing
44 Greensboro Hwy, Watkinsville, GA 30677
Prime commercial property near dining and shopping in Oconee County.
Property Size2,150 SF
Lot Size0.64 Acres
Price / SF$348.84
Days on Market738
Property Features for 44 Greensboro Hwy
General Information
Standard status
Active
Size
2,150 SF
Class
B
Lot size
0.64 Acres
Property subtype
Office, Retail
Zoning
C-3 Commercial
Building Details
Year Built
1988
Year Renovated
2011
Buildings
1
Stories
1
Units
1
Listing Agency:
Marks Commercial Realty, Inc.
(762) 999-0800
Listed By:
Daniel Marks, CCIM · License #428292
Source:
Crexi
Added: Aug 26, 2024
Changed: Sep 1
Last Checked: Sep 1 at 7:42AM
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 Marks Commercial Realty, Inc.
Investment Insights
Based on property information with market context.
Located in Watkinsville, GA, 44 Greensboro Highway presents a commercial real estate opportunity. This property features a .64 acre lot with a single-story office building offering 2,150 square feet of space. The unoccupied building is situated in Oconee County, near dining and shopping options. The property offers ample parking and a prime commercial setting. Nearby establishments include Barberitos, Chops and Hops, and Jittery Joe’s. New developments are upcoming in the area.
Key Highlights
- Prime commercial location in fast‑growing Oconee County.
- Versatile 2,150 SF single‑story office building.
- Ample parking.
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
$27,829
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
3.71%
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%
$556,580
$556.6K
Cap Rate 7%
$397,557
$397.6K
Cap Rate 9%
$309,211
$309.2K
Market Conditions
NOI Build-Up for 2,150 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
$46.4K $21.60/SF
− Vacancy
−$9.3K −$4.34/SF
EGI
$37.1K $17.26/SF
− OpEx
−$9.3K −$4.31/SF
NOI
$27.8K $12.94/SF
Area
Oconee County, 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%
$556,580
Cap Rate 7%
$397,557
Cap Rate 9%
$309,211
Alternative Uses
Best Use
Office B
$397.6K
$347.9K – $463.8K
NOI $27,829 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$518.3K
$453.5K – $604.7K
NOI $36,281 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Explore this area
Business Placement
Demographics for 30677, GA
20,579
Population
7,797
Households
2.6
Avg Household Size
41
Median Age
55%
College-Educated
97%
High-School Grad
122.2 sq mi
ZIP Area
168
Density / Sq Mi
$103,165
Median Household Income
$49,399
Median Earnings
$1,403
Median Rent
$394,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Prime commercial property near dining and shopping in Oconee County.
Where is this office building located?
The property is located at 44 Greensboro Hwy Watkinsville, 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: Prime commercial location in fast‑growing Oconee County.; Versatile 2,150 SF single‑story office building.; Ample parking.
