O&I-Zoned Office
For Sale
$490,000
4918 Stewart Mill Rd, Douglasville, GA 30135
Established office property with convenient access near I-20 and Chapel Hill Extension.
Property Size539 SF
Price / SF$318.39
Days on Market18
Property Features for 4918 Stewart Mill Rd
General Information
Standard status
Active
Size
539 SF
Zoning
O&I
Additional Details
Highway Access
Yes
Building Details
Year Built
1963
Buildings
1
Building Size
539 SF
Listing Agency:
Lawson Realty, Inc.
(770) 489-1001
Listed By:
Edward Lawson · License #102397
Source:
Eternorealtygroup
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 28 at 3:47PM
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 Lawson Realty, Inc.
Investment Insights
Based on property information with market context.
This office building contains 1,539 square feet and carries O&I zoning, providing a defined professional-office classification for the property. Constructed in 1963, the building offers an established commercial footprint for an office user or owner-occupant.
The property is located at 4918 Stewart Mill Rd in Douglasville, Georgia, approximately 1 mile from I-20 and Chapel Hill Extension. Its position near these transportation routes provides straightforward regional access for office operations and visitors.
The property is located at 4918 Stewart Mill Rd in Douglasville, Georgia, approximately 1 mile from I-20 and Chapel Hill Extension. Its position near these transportation routes provides straightforward regional access for office operations and visitors.
Key Highlights
- 1,539‑square‑foot office building
- O&I zoning supports office use
- Built in 1963
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
$20,609
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
4.21%
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%
$412,180
$412.2K
Cap Rate 7%
$294,414
$294.4K
Cap Rate 9%
$228,989
$229.0K
Market Conditions
NOI Build-Up for 1,539 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
$36.7K $23.87/SF
− Vacancy
−$9.3K −$6.02/SF
EGI
$27.5K $17.85/SF
− OpEx
−$6.9K −$4.46/SF
NOI
$20.6K $13.39/SF
Area
Douglas 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%
$412,180
Cap Rate 7%
$294,414
Cap Rate 9%
$228,989
Alternative Uses
Best Use
Office B
$294.4K
$257.6K – $343.5K
NOI $20,609 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$430.2K
$376.4K – $501.9K
NOI $30,115 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 30135, GA
67,508
Population
23,823
Households
2.8
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
83.6 sq mi
ZIP Area
808
Density / Sq Mi
$92,991
Median Household Income
$48,265
Median Earnings
$1,550
Median Rent
$277,400
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?
Office building - Established office property with convenient access near I-20 and Chapel Hill Extension.
Where is this office building located?
The property is located at 4918 Stewart Mill Rd Douglasville, GA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 1,539‑square‑foot office building; O&I zoning supports office use; Built in 1963
