Infill Development Site with
For Sale
$1,799,000
493 Waterman Street Southeast, Marietta, GA 30060
Infill site with move-in-ready office spaces, 2-car bays, and a standalone EcoHut, offered for redevelopment.
Property Size4,936 SF
Price / SF$364.47
Days on Market254
Property Features for 493 Waterman Street Southeast
General Information
Standard status
Active
Size
4,936 SF
Total Parking Spaces
18
Property subtype
Commercial Sale / Mixed Use
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,699
Amenities
Central Air, Electric
Central, Natural Gas
Hardwood, Ceramic Tile
Slab
Two
Furniture
Insulated Windows
Reception Area, Recessed Lighting, Restrooms, Track Lighting, Other
Dock
No
Storage - Other
Asphalt
Carbon Monoxide Detector(s), Fire Alarm, Security Lights
5
County Road
Concrete
Building Details
Year Built
1995
Listing Agency:
BHGRE Metro Brokers
Listed By:
LaToya Robinson
(404) 585-8797
Source:
Compass
Added: Dec 28, 2025
Changed: Sep 8
Last Checked: Sep 8 at 4:07AM
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 BHGRE Metro Brokers
Investment Insights
Based on property information with market context.
493 Waterman Street presents an infill development opportunity with residential and mixed-use potential. The site includes a recently renovated building with move-in-ready office spaces and 2-car bays, along with a standalone EcoHut structure that can provide immediate functional use during early planning. The EcoHut may serve as a temporary construction or development office, sales or leasing workspace, a creative studio, or a flexible accessory space, depending on the final development plan.
Development strategies described for the site include ground-up construction of approximately 3–4 single-family residences or a mixed-use/neighborhood commercial concept, subject to zoning and municipal approvals. Public utilities are available, and buyer verification is required for all zoning, land use, density, and development feasibility with Cobb County and applicable authorities.
Development strategies described for the site include ground-up construction of approximately 3–4 single-family residences or a mixed-use/neighborhood commercial concept, subject to zoning and municipal approvals. Public utilities are available, and buyer verification is required for all zoning, land use, density, and development feasibility with Cobb County and applicable authorities.
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
$66,098
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
3.67%
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%
$1,321,960
$1.3M
Cap Rate 7%
$944,257
$944.3K
Cap Rate 9%
$734,422
$734.4K
Market Conditions
NOI Build-Up for 4,936 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
$117.8K $23.87/SF
− Vacancy
−$29.7K −$6.02/SF
EGI
$88.1K $17.85/SF
− OpEx
−$22.0K −$4.46/SF
NOI
$66.1K $13.39/SF
Area
Cobb 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%
$1,321,960
Cap Rate 7%
$944,257
Cap Rate 9%
$734,422
Alternative Uses
Best Use
Office B
$944.3K
$826.2K – $1.10M
NOI $66,098 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,022 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,751
Businesses Nearby
Explore this area
Business Placement
Demographics for 30060, GA
39,890
Population
15,036
Households
2.7
Avg Household Size
32
Median Age
29%
College-Educated
79%
High-School Grad
15.5 sq mi
ZIP Area
2,574
Density / Sq Mi
$62,180
Median Household Income
$34,537
Median Earnings
$1,344
Median Rent
$282,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Infill site with move-in-ready office spaces, 2-car bays, and a standalone EcoHut, offered for redevelopment.
Where is this office units located?
The property is located at 493 Waterman Street Southeast Marietta, GA.
What is the asking price?
The asking price for this property is $1,799,000.
