Office Building Conversion
4894 College St Forest Park, GA 30297
4894 College St, Forest Park, GA, 30297
$312,000
For Sale
$312,000
Current office use on a property the seller prefers to bundle into a multi-lot assemblage in Forest Park’s Arts district.
Property Size1,358 SF
Price / SF$229.75
Days on Market376
Property Features for 4894 College St
General Information
- Standard status
- Active
- Size
- 1,358 SF
Listing agency
Atlanta New Homes Marketing
(770) 824-4181
Listed by
Ivory Ledet
(770) 824-4181
Source
Exprealty
Added: Jul 12, 2025 Updated: Jul 21 at 1:39PM Checked: Jul 21 at 1:39PM
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 Atlanta New Homes Marketing
Investment Insights
Based on property information with market context.
The property at 4894 College St is currently configured and marketed as an office. The seller indicates a preference to sell the property as part of a larger assemblage of nearby properties in a prime area designated by the City of Forest Park as its Arts and Entertainment District.
The city’s vision for the district includes a live-work-play environment with a focus on walkability. The assemblage references multiple adjacent commercial and empty lots, with the subject property listed as 4894 Main St as part of that group.
The broader district concept references preferred housing types and an emphasis on architectural variety. The information provided also states that no Section 8 tenants are permitted in this zone, which may be relevant for plans involving any housing mix tied to the larger area.
The city’s vision for the district includes a live-work-play environment with a focus on walkability. The assemblage references multiple adjacent commercial and empty lots, with the subject property listed as 4894 Main St as part of that group.
The broader district concept references preferred housing types and an emphasis on architectural variety. The information provided also states that no Section 8 tenants are permitted in this zone, which may be relevant for plans involving any housing mix tied to the larger area.
Key Highlights
- Currently used as an office
- Seller prefers to sell this property as part of a larger multi‑lot assemblage in Forest Park’s Arts and Entertainment District
- Assemblage listed: 4898 Main St (Comm/Church) at $336,000
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.4k | $23.87 |
| − Vacancy | −$8.2k | −$6.02 |
| EGI | $24.2k | $17.85 |
| − OpEx | −$6.1k | −$4.46 |
| NOI | $18.2k | $13.39 |
1,358 SF · lease $23.87/SF/yr · vacancy 25.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$259.8K
$227.3K – $303.1K
NOI $18,185 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.6K
$332.2K – $442.9K
NOI $26,573 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
College Press Inc
Marketing & Advertising
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Current office use on a property the seller prefers to bundle into a multi-lot assemblage in Forest Park’s Arts district.
Where is this office building located?
The property is located at 4894 College St Forest Park, GA.
What is the asking price?
The asking price for this property is $312,000.
What are key features of this property?
This property features: Currently used as an office; Seller prefers to sell this property as part of a larger multi‑lot assemblage in Forest Park’s Arts and Entertainment District; Assemblage listed: 4898 Main St (Comm/Church) at $336,000
