Flex Space with Retail and
For Sale
$1,950,000
4860 Atlanta Hwy, Athens, GA 30606
Connected retail and warehouse areas provide showroom, office, storage, receiving, and loading functions within one commercial property.
Property Size12,000 SF
Lot Size1.58 Acres
Price / SF$162.50
Days on Market17
Property Features for 4860 Atlanta Hwy
General Information
Standard status
Active
Size
12,000 SF
Total Parking Spaces
41
Lot size
1.58 Acres
Warehouse & Industrial
Clear Height
12 ft
Warehouse Space
2,880 SF
Dock-High Doors
4
Drive-In Doors
1
Cold Storage
Yes
Cold Storage Area
80 SF
Freezer
80 SF
Additional Details
Traffic Count
31,000 vehicles/day
Amenities
covered front entry porch
fitting room
multiple private offices
break room with full kitchen cabinetry and appliances
two restrooms
LED-lit
gas heat
exhaust fan
Building Details
Year Built
2005
Year Renovated
2024
Buildings
1
Building Size
12,000 SF
Listing Agency:
NAI Elrod Group
(706) 553-1000
Listed By:
Brian Elrod · License ##251606
Source:
Brockteam
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 25 at 4:12AM
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 NAI Elrod Group
Investment Insights
Based on property information with market context.
This 12,000 SF flex property combines a 9,120 SF retail area with a connected 2,880 SF warehouse on a 1.58-acre site. The retail portion was built in 2005 and renovated in 2024, with a vaulted sales floor, exposed truss ceiling, covered entry porch, fitting room, private offices, break room with kitchen cabinetry and appliances, and two restrooms. The warehouse was built in 2006 and renovated in 2024, with LED lighting, mezzanine storage, a 10 x 8 walk-in freezer, gas heat, exhaust fan, and insulated construction. A direct interior passage connects both sections.
Loading includes four dock-high doors and one grade-level door across two covered loading zones. The site also provides a 41-space paved parking lot and will be delivered vacant at closing. The property fronts Atlanta Highway in western Athens-Clarke County, approximately one mile west of Sams Club, where traffic exceeds 31,000 VPD. The corridor links Athens with Oconee County and points west toward Atlanta.
Loading includes four dock-high doors and one grade-level door across two covered loading zones. The site also provides a 41-space paved parking lot and will be delivered vacant at closing. The property fronts Atlanta Highway in western Athens-Clarke County, approximately one mile west of Sams Club, where traffic exceeds 31,000 VPD. The corridor links Athens with Oconee County and points west toward Atlanta.
Key Highlights
- 12,000 SF flex property on a 1.58‑acre site
- 9,120 SF retail area connected to a 2,880 SF warehouse
- Retail and warehouse sections renovated in 2024
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
$135,626
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
6.96%
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%
$2,712,520
$2.7M
Cap Rate 7%
$1,937,514
$1.9M
Cap Rate 9%
$1,506,956
$1.5M
Market Conditions
NOI Build-Up for 12,000 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
$216.0K $18.00/SF
− Vacancy
−$22.2K −$1.85/SF
EGI
$193.8K $16.15/SF
− OpEx
−$58.1K −$4.84/SF
NOI
$135.6K $11.30/SF
Area
Athens, GA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,712,520
Cap Rate 7%
$1,937,514
Cap Rate 9%
$1,506,956
Alternative Uses
Best Use
Retail
$1.94M
$1.70M – $2.26M
NOI $135,626 @ 7.0% cap · market cap 6.96%
Second Best
Warehouse
$1.26M
$1.10M – $1.47M
NOI $88,090 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,499 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
4
Dock-high doors
1
Drive-in doors
31,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30606, GA
46,798
Population
22,603
Households
2.1
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
30.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$61,397
Median Household Income
$35,854
Median Earnings
$1,222
Median Rent
$332,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Connected retail and warehouse areas provide showroom, office, storage, receiving, and loading functions within one commercial property.
Where is this flex space located?
The property is located at 4860 Atlanta Hwy Athens, GA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 12,000 SF flex property on a 1.58‑acre site; 9,120 SF retail area connected to a 2,880 SF warehouse; Retail and warehouse sections renovated in 2024
