Warehouse with Drive-In
For Sale
$925,000
524 Kelly Mill Road, Cumming, GA 30040
The building includes drive-in access and a clear-span interior.
Property Size3,966 SF
Lot Size0.31 Acres
Price / SF$233.23
Days on Market59
Property Features for 524 Kelly Mill Road
General Information
Standard status
Active
Size
3,966 SF
Lot size
0.31 Acres
Property subtype
Industrial
Zoning
CBD
Warehouse & Industrial
Clear Height
10 ft
Clear Span
Yes
Drive-In Doors
2
Building Details
Building Size
3,966 SF
Listing Agency:
(770) 312-0267
Listed By:
Carson Hawks
Source:
Kingindustrial
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 30 at 5:58AM
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 Carson Hawks
Investment Insights
Based on property information with market context.
This 3,966± SF warehouse occupies approximately 0.31± acres and is configured for functional industrial use. The building offers two drive-in doors, a clear-span interior, and 10' clear height, providing straightforward access for loading and storage operations.
The property is located at 524 Kelly Mill Road in Cumming, Georgia, and carries CBD zoning. Its combination of warehouse space, drive-in access, and open interior configuration creates a practical commercial layout.
The property is located at 524 Kelly Mill Road in Cumming, Georgia, and carries CBD zoning. Its combination of warehouse space, drive-in access, and open interior configuration creates a practical commercial layout.
Key Highlights
- 3,966± SF warehouse building
- Two drive‑in doors
- Clear‑span interior
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
$29,114
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
3.15%
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%
$582,280
$582.3K
Cap Rate 7%
$415,914
$415.9K
Cap Rate 9%
$323,489
$323.5K
Market Conditions
NOI Build-Up for 3,966 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
$37.6K $9.48/SF
− Vacancy
−$3.3K −$0.84/SF
EGI
$34.3K $8.64/SF
− OpEx
−$5.1K −$1.30/SF
NOI
$29.1K $7.34/SF
Area
Forsyth 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%
$582,280
Cap Rate 7%
$415,914
Cap Rate 9%
$323,489
Alternative Uses
Best Use
Warehouse
$415.9K
$363.9K – $485.2K
NOI $29,114 @ 7.0% cap · market cap 3.15%
Second Best
Industrial
$345.1K
$302.0K – $402.7K
NOI $24,160 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$1.11M
$970.1K – $1.29M
NOI $77,605 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30040, GA
81,191
Population
27,642
Households
2.9
Avg Household Size
38
Median Age
55%
College-Educated
93%
High-School Grad
57.7 sq mi
ZIP Area
1,407
Density / Sq Mi
$133,028
Median Household Income
$60,926
Median Earnings
$1,883
Median Rent
$474,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Westside Mini Storage — 305 Canton Rd, Cumming, GA 30040
Frequently Asked Questions
What type of property is this?
Warehouse - The building includes drive-in access and a clear-span interior.
Where is this warehouse located?
The property is located at 524 Kelly Mill Road Cumming, GA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 3,966± SF warehouse building; Two drive‑in doors; Clear‑span interior
