Flex Space with Office and
New
For Sale
$1,799,000
4900b Hwy 98 E, Comer, GA 30629
A 2023 facility pairs a substantial office component with loading and three-phase power.
Property Size10,000 SF
Lot Size2.50 Acres
Price / SF$179.90
Days on Market5
Property Features for 4900b Hwy 98 E
General Information
Standard status
Active
Size
10,000 SF
Lot size
2.50 Acres
Property subtype
Commercial
Warehouse & Industrial
Warehouse Space
7,815 SF
Office Build-Out
2,185 SF
Three-Phase Power
Yes
Additional Details
Road Access
Yes
Amenities
restrooms with showers
meeting room
break area with kitchen
reception area
Building Details
Year Built
2023
Buildings
1
Building Size
10,000 SF
Listing Agency:
Iris Inc Realty
Listed By:
Jake Willcox · License #402642
(706) 338-0765
Source:
Ginesandburnsed.searchhomesinsavannah
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:42PM
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 Iris Inc Realty
Investment Insights
Based on property information with market context.
Built in 2023, this 10,000-square-foot flex property in Comer, Georgia, combines warehouse and office areas on approximately 2.5 acres. The 7,815-square-foot warehouse has two roll-up doors, a loading dock, two restrooms with showers, and mezzanine storage. Finished office space totals 2,185 square feet and includes nine private offices, a meeting room, reception area, and a kitchen-equipped break area.
The property is situated along a state highway. Three-phase power is in place, and the sale is contingent on Madison County split approval and a new survey. An additional building and acreage are also available.
The property is situated along a state highway. Three-phase power is in place, and the sale is contingent on Madison County split approval and a new survey. An additional building and acreage are also available.
Key Highlights
- 10,000 square feet of flex space on approximately 2.5 acres
- 7,815‑square‑foot warehouse with two roll‑up doors and a loading dock
- 2,185 square feet of finished office space, including nine offices and a meeting room
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
$73,408
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
4.08%
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%
$1,468,160
$1.5M
Cap Rate 7%
$1,048,686
$1.0M
Cap Rate 9%
$815,644
$815.6K
Market Conditions
NOI Build-Up for 10,000 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
$94.8K $9.48/SF
− Vacancy
−$8.4K −$0.84/SF
EGI
$86.4K $8.64/SF
− OpEx
−$13.0K −$1.30/SF
NOI
$73.4K $7.34/SF
Area
Madison County, GA
Vacancy
8.90%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$1,468,160
Cap Rate 7%
$1,048,686
Cap Rate 9%
$815,644
Alternative Uses
Best Use
Warehouse
$1.05M
$917.6K – $1.22M
NOI $73,408 @ 7.0% cap · market cap 4.08%
Second Best
Industrial
$870.3K
$761.5K – $1.02M
NOI $60,918 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,749 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30629, GA
4,950
Population
1,975
Households
2.5
Avg Household Size
41
Median Age
26%
College-Educated
79%
High-School Grad
74.4 sq mi
ZIP Area
67
Density / Sq Mi
$58,806
Median Household Income
$36,934
Median Earnings
$911
Median Rent
$173,600
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 - A 2023 facility pairs a substantial office component with loading and three-phase power.
Where is this flex space located?
The property is located at 4900b Hwy 98 E Comer, GA.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 10,000 square feet of flex space on approximately 2.5 acres; 7,815‑square‑foot warehouse with two roll‑up doors and a loading dock; 2,185 square feet of finished office space, including nine offices and a meeting room
