Corner Flex
For Sale
$629,700
494 Ga Highway 247 S, Bonaire, GA 31005
Located at the junction of GA Highway 247 and Highway 96, the property offers direct access to a commercial intersection.
Property Size2,940 SF
Price / SF$214.18
Days on Market69
Property Features for 494 Ga Highway 247 S
General Information
Standard status
Active
Size
2,940 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
LANDMARK REALTY
(478) 951-9617
Listed By:
Laura Branham · License #356996
(478) 951-9617
Source:
Exprealty
Added: Jun 23
Changed: Aug 29
Last Checked: Aug 29 at 7:07PM
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 LANDMARK REALTY
Investment Insights
Based on property information with market context.
This 2,940-square-foot flex space at 494 GA Highway 247 S provides a versatile commercial footprint for business operations. The property is identified as suitable for warehouse, office, and mechanic-shop uses, giving occupants flexibility across several business formats.
The site is positioned at the intersection of GA Highway 247 and Highway 96 in Bonaire, Georgia. Its corner placement provides access from a major crossroads, while the surrounding commercial corridor offers exposure to ongoing vehicle movement. The property may also suit an established business seeking additional space or a new operation requiring a combination of work and office functions.
The site is positioned at the intersection of GA Highway 247 and Highway 96 in Bonaire, Georgia. Its corner placement provides access from a major crossroads, while the surrounding commercial corridor offers exposure to ongoing vehicle movement. The property may also suit an established business seeking additional space or a new operation requiring a combination of work and office functions.
Key Highlights
- 2,940 SF flex space
- Corner position at GA Highway 247 and Highway 96
- Address: 494 GA Highway 247 S, Bonaire, GA
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
$36,833
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
5.85%
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%
$736,660
$736.7K
Cap Rate 7%
$526,186
$526.2K
Cap Rate 9%
$409,256
$409.3K
Market Conditions
NOI Build-Up for 2,940 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
$57.5K $19.56/SF
− Vacancy
−$4.9K −$1.66/SF
EGI
$52.6K $17.90/SF
− OpEx
−$15.8K −$5.37/SF
NOI
$36.8K $12.53/SF
Area
Houston County, GA
Vacancy
8.50%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
30.00%
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%
$736,660
Cap Rate 7%
$526,186
Cap Rate 9%
$409,256
Alternative Uses
Best Use
Retail
$526.2K
$460.4K – $613.9K
NOI $36,833 @ 7.0% cap · market cap 5.85%
Second Best
Flex RnD
$325.5K
$284.8K – $379.8K
NOI $22,785 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$634.6K
$555.2K – $740.3K
NOI $44,419 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 31005, GA
20,531
Population
7,514
Households
2.7
Avg Household Size
36
Median Age
41%
College-Educated
96%
High-School Grad
23.1 sq mi
ZIP Area
889
Density / Sq Mi
$107,071
Median Household Income
$58,603
Median Earnings
$1,248
Median Rent
$247,800
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Located at the junction of GA Highway 247 and Highway 96, the property offers direct access to a commercial intersection.
Where is this flex space located?
The property is located at 494 Ga Highway 247 S Bonaire, GA.
What is the asking price?
The asking price for this property is $629,700.
What are key features of this property?
This property features: 2,940 SF flex space; Corner position at GA Highway 247 and Highway 96; Address: 494 GA Highway 247 S, Bonaire, GA
