Commercial Land with Office
For Sale
Contact for pricing
4611 HWY 138, Stockbridge, GA 30281
Mixed-zoning acreage includes multiple powered buildings, water access, septic service, and two roadway entrances.
Property Size5,000 SF
Price / SF$320
Days on Market65
Property Features for 4611 HWY 138
General Information
Standard status
Active
Size
5,000 SF
Class
B
Property subtype
Office, Land, Special Purpose
Zoning
Mixed Zoning: Commercial/O&I/AR
Investment Type
Owner/User
Building Details
Year Built
2000
Buildings
3
Listing Agency:
Pace Lynch Realty
Listed By:
Cathy Sheehan · License #206349
Source:
Crexi
Added: Jul 2
Changed: Aug 31
Last Checked: Aug 31 at 1:06AM
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 Pace Lynch Realty
Investment Insights
Based on property information with market context.
This 12-acre commercial land holding includes a 5,000-square-foot office and event center built in 2000. The property also contains Building B, which has a drive-in door, power, water access, and side panels that open to the exterior. Building C provides additional office and storage space with power. The existing improvements are in excellent condition according to the property information.
The site is positioned at the Hwy 138 and Union Church Road roundabout in Stockbridge, with separate curb cuts from both roads. Zoning is identified as mixed Commercial/O&I/AR. Utilities are available, with septic service in place and no sewer connection. The combination of acreage, existing buildings, and roadway access supports continued commercial use or consideration as a church or future development site.
The site is positioned at the Hwy 138 and Union Church Road roundabout in Stockbridge, with separate curb cuts from both roads. Zoning is identified as mixed Commercial/O&I/AR. Utilities are available, with septic service in place and no sewer connection. The combination of acreage, existing buildings, and roadway access supports continued commercial use or consideration as a church or future development site.
Key Highlights
- 12 acres at the Hwy 138 and Union Church Road roundabout
- 5,000 SF office/event center built in 2000
- Building B includes 1 drive‑in door, power, water access, and exterior‑opening side panels
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
$66,955
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
4.18%
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%
$1,339,100
$1.3M
Cap Rate 7%
$956,500
$956.5K
Cap Rate 9%
$743,944
$743.9K
Market Conditions
NOI Build-Up for 5,000 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
$119.4K $23.87/SF
− Vacancy
−$30.1K −$6.02/SF
EGI
$89.3K $17.85/SF
− OpEx
−$22.3K −$4.46/SF
NOI
$67.0K $13.39/SF
Area
Henry 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%
$1,339,100
Cap Rate 7%
$956,500
Cap Rate 9%
$743,944
Alternative Uses
Best Use
Office B
$956.5K
$836.9K – $1.12M
NOI $66,955 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,838 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 30281, GA
69,540
Population
29,546
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
69.3 sq mi
ZIP Area
1,003
Density / Sq Mi
$70,587
Median Household Income
$43,672
Median Earnings
$1,427
Median Rent
$235,700
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?
Commercial land - Mixed-zoning acreage includes multiple powered buildings, water access, septic service, and two roadway entrances.
Where is this commercial land located?
The property is located at 4611 HWY 138 Stockbridge, GA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 12 acres at the Hwy 138 and Union Church Road roundabout; 5,000 SF office/event center built in 2000; Building B includes 1 drive‑in door, power, water access, and exterior‑opening side panels
