Fenced Flex-Space
For Sale
$389,000
557 W Main Street, Lexington, GA 30648
COMMERCIAL - Lexington, GA
Property Size4,374 SF
Lot Size2.17 Acres
Price / SF$88.93
Days on Market119
Property Features for 557 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Level
Directions
Google 557 West Main St. Lexington. Location near the Golden Pantry.
Standard status
Active
APN
L1 004
Size
4,374 SF
Lot size
2.17 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
2136
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1967
Building materials
Block, Brick, Concrete
Roof type
Metal
Listing Agency:
Georgia Premier RE Advisors
(706) 363-0099
Listed By:
Matthew L Smith
(706) 340-4724
Added: Apr 15
Changed: Aug 4
Last Checked: Aug 11 at 11:06PM
MLS# 10741988
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space property occupies +/- 2.17 acres and includes a +/-3,200 SF warehouse/shop with three roll-up doors, plus 1,100 SF of attached covered storage. The approximately +/-1,134 SF office area has recently received new LVP flooring and fresh paint. Additional improvements include a +/-1000 SF block building with high ceilings and a +/-1,800 SF pole shed. The site is fully enclosed with chain-link fencing and includes excess land for expansion or outdoor operations.
Located at 557 W Main Street in Lexington, Georgia, the property is within the city limits and has public water available, with septic service. Construction materials include block, brick, and concrete, while the roof is metal. Window-unit cooling is provided, and the improvements date to 1967.
Located at 557 W Main Street in Lexington, Georgia, the property is within the city limits and has public water available, with septic service. Construction materials include block, brick, and concrete, while the roof is metal. Window-unit cooling is provided, and the improvements date to 1967.
Key Highlights
- +/- 2.17‑acre fenced site within Lexington city limits
- +/-3,200 SF warehouse/shop with three roll‑up doors
- 1,100 SF of attached covered storage
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
$32,109
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
8.25%
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%
$642,180
$642.2K
Cap Rate 7%
$458,700
$458.7K
Cap Rate 9%
$356,767
$356.8K
Market Conditions
NOI Build-Up for 4,374 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
$41.5K $9.48/SF
− Vacancy
−$3.7K −$0.84/SF
EGI
$37.8K $8.64/SF
− OpEx
−$5.7K −$1.30/SF
NOI
$32.1K $7.34/SF
Area
Oglethorpe 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%
$642,180
Cap Rate 7%
$458,700
Cap Rate 9%
$356,767
Alternative Uses
Best Use
Office B
$808.8K
$707.7K – $943.6K
NOI $56,616 @ 7.0% cap · market cap 14.55%
Second Best
Retail
$706.2K
$618.0K – $823.9K
NOI $49,436 @ 7.0% cap · market cap 12.71%
Theoretical Best
Office A
$1.05M
$922.6K – $1.23M
NOI $73,811 @ 7.0% cap · market cap 18.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30648, GA
2,741
Population
1,212
Households
2.3
Avg Household Size
45
Median Age
31%
College-Educated
91%
High-School Grad
92.1 sq mi
ZIP Area
30
Density / Sq Mi
$72,431
Median Household Income
$43,325
Median Earnings
$879
Median Rent
$158,300
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?
Flex space - Multiple enclosed improvements provide updated office space, covered storage, and room for outdoor operations.
Where is this flex space located?
The property is located at 557 W Main Street Lexington, GA.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: +/- 2.17‑acre fenced site within Lexington city limits; +/-3,200 SF warehouse/shop with three roll‑up doors; 1,100 SF of attached covered storage
