Retail Building with Dedicated
New
For Sale
Contact for pricing
501 Northridge Drive, Rincon, GA 31326
Commercial building with dedicated on-site parking and an interior layout that can be adapted for multiple tenant areas.
Property Size7,600 SF
Lot Size1.03 Acres
Price / SF$197.37
Days on Market5
Property Features for 501 Northridge Drive
General Information
Standard status
Active
Size
7,600 SF
Total Parking Spaces
34
Lot size
1.03 Acres
Property subtype
Retail, Self Storage
Zoning
B-2
Additional Details
Traffic Count
37,700 vehicles/day
Building Details
Year Built
1997
Buildings
1
Stories
1
Units
1
Listing Agency:
Blokk Commercial Real Estate
(912) 667-5887
Listed By:
Mason Spivey · License #441157
Source:
Crexi
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 2:51AM
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 Blokk Commercial Real Estate
Investment Insights
Based on property information with market context.
This 7,600-square-foot retail building occupies approximately 1.03 acres and includes 34 dedicated parking spaces. Built in 1997, the property has a layout that can support a single commercial occupant or be reconfigured into multiple tenant areas. B-2 zoning is in place.
The property fronts the Hwy 21 commercial corridor, which carries approximately 37,700 VPD. Nearby retail anchors include Kroger, Walmart, and Lowe’s, while The Shoppes of Northridge is located across from the site. That facility encompasses approximately 43,000 square feet and is anticipated to add retail and restaurant offerings.
The property fronts the Hwy 21 commercial corridor, which carries approximately 37,700 VPD. Nearby retail anchors include Kroger, Walmart, and Lowe’s, while The Shoppes of Northridge is located across from the site. That facility encompasses approximately 43,000 square feet and is anticipated to add retail and restaurant offerings.
Key Highlights
- 7,600 SF retail building on ±1.03 acres
- 34 dedicated parking spaces
- B‑2 zoning
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
$86,273
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
5.75%
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%
$1,725,460
$1.7M
Cap Rate 7%
$1,232,471
$1.2M
Cap Rate 9%
$958,589
$958.6K
Market Conditions
NOI Build-Up for 7,600 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
$132.2K $17.40/SF
− Vacancy
−$9.0K −$1.18/SF
EGI
$123.2K $16.22/SF
− OpEx
−$37.0K −$4.87/SF
NOI
$86.3K $11.35/SF
Area
Effingham County, GA
Vacancy
6.80%
Lease Rate
$17.40 /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%
$1,725,460
Cap Rate 7%
$1,232,471
Cap Rate 9%
$958,589
Alternative Uses
Best Use
Retail
$1.23M
$1.08M – $1.44M
NOI $86,273 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$7.10M
$6.21M – $8.29M
NOI $497,188 @ 7.0% cap · market cap 33.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
37,700 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 31326, GA
22,449
Population
9,465
Households
2.4
Avg Household Size
37
Median Age
29%
College-Educated
94%
High-School Grad
68.6 sq mi
ZIP Area
327
Density / Sq Mi
$82,196
Median Household Income
$47,234
Median Earnings
$1,141
Median Rent
$244,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial building with dedicated on-site parking and an interior layout that can be adapted for multiple tenant areas.
Where is this retail space located?
The property is located at 501 Northridge Drive Rincon, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 7,600 SF retail building on ±1.03 acres; 34 dedicated parking spaces; B‑2 zoning
