Flex Space with Loading
New
For Sale
$1,799,000
4900B Highway 98 E, Comer, GA 30629
Commercial Sale, Comer, GA
Property Size10,000 SF
Lot Size2.50 Acres
Price / SF$179.90
Days on Market3
Property Features for 4900B Highway 98 E
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
I
Parking
25
Appliances
Electric Water Heater, Refrigerator
Directions
From Comer: Take HWY 98 E towards Danielsville. Go through the 4-way intersection with HWY 172. The property is approximately .2 of a mile on the LEFT. Mobile users: 4900 HWY 98E Comer, Ga.
Standard status
Active
APN
0083-002
Size
10,000 SF
Lot size
2.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
C & M /LAND
Tax Annual Amount
6509
Legal Description
C & M /LAND
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
meeting room
9 individual offices
break area with kitchen
reception area
2 restrooms with showers
Building Details
Year built
2023
Floors in Building
1
Building materials
Metal Siding
Listing Agency:
Iris Inc Realty
(706) 743-5812
Listed By:
Jake Willcox · License #402642
(706) 338-0765
Added: Sep 23
Changed: Sep 24
Last Checked: Sep 25 at 5:06AM
MLS# CL365261
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2023, this 10,000-square-foot flex property occupies approximately 2.5 acres at 4900B Highway 98 E in Comer. The building includes 7,815 square feet of open warehouse area and 2,185 square feet of finished office space. Warehouse features include two roll-up doors, a loading dock, two restrooms with showers, and mezzanine storage. The office layout provides a meeting room, nine private offices, a kitchen-equipped break area, and reception space.
The property is zoned I and served by public water and a septic system. Central electric heating and cooling are installed, along with three-phase power. The sale is subject to Madison County split approval and a new survey; additional building and acreage are also available.
The property is zoned I and served by public water and a septic system. Central electric heating and cooling are installed, along with three-phase power. The sale is subject to Madison County split approval and a new survey; additional building and acreage are also available.
Key Highlights
- 10,000 square feet of building area on approximately 2.5 acres
- 7,815 square feet of open warehouse and 2,185 square feet of finished office space
- Warehouse has two roll‑up doors, a loading dock, and mezzanine storage
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
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Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 combines open warehouse capacity with a substantial office component and established three-phase power.
Where is this flex space located?
The property is located at 4900B Highway 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 building area on approximately 2.5 acres; 7,815 square feet of open warehouse and 2,185 square feet of finished office space; Warehouse has two roll‑up doors, a loading dock, and mezzanine storage
