Versatile Office-Residential
For Sale
$450,000
566 Hillcrest Rd Nw, Lilburn, GA 30047
Converted two-story building with flexible office and residential/business space, plus detached garage workshop and parking room.
Property Size2,562 SF
Lot Size0.98 Acres
Price / SF$175.64
Days on Market87
Property Features for 566 Hillcrest Rd Nw
General Information
Standard status
Active
Size
2,562 SF
Lot size
0.98 Acres
Zoning
CB
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,159
Building Details
Stories
2
Listing Agency:
eXp Realty
(404) 886-0304
Listed By:
Maggy Calhoun
(404) 886-0304
Source:
Exprealty
Added: May 30
Changed: Aug 20
Last Checked: Aug 24 at 10:33AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This converted residence offers approximately 2,562 square feet of flexible space inside a two-story building. The layout includes multiple offices, two full kitchens (one on each level), and five bedrooms that can be used as offices, meeting spaces, or work areas. A detached 4-car garage/workshop adds practical support space, with additional room for parking and storage to support business operations.
The property is located in the City of Lilburn and is described as being zoned CB (Commercial Business). It sits on approximately 0.98 acres and is positioned just minutes from Indian Trail Road, Lawrenceville Highway, and I-85, providing access to Gwinnett County and the Metro Atlanta area. Public remarks also note the property’s placement along a well-established commercial corridor.
For tenants or owner-users, the configuration supports a variety of office and service-oriented setups, with both kitchen and room-for-work features that can accommodate different operating styles across two levels. For investors or buyers, the listing notes the property is tenant-occupied, offering a built-in operating scenario while maintaining flexibility through the CB zoning for multiple retail, office, and service-oriented uses.
The property is located in the City of Lilburn and is described as being zoned CB (Commercial Business). It sits on approximately 0.98 acres and is positioned just minutes from Indian Trail Road, Lawrenceville Highway, and I-85, providing access to Gwinnett County and the Metro Atlanta area. Public remarks also note the property’s placement along a well-established commercial corridor.
For tenants or owner-users, the configuration supports a variety of office and service-oriented setups, with both kitchen and room-for-work features that can accommodate different operating styles across two levels. For investors or buyers, the listing notes the property is tenant-occupied, offering a built-in operating scenario while maintaining flexibility through the CB zoning for multiple retail, office, and service-oriented uses.
Key Highlights
- Commercial Business (CB) zoned property in the City of Lilburn with versatile office, residential, and business space
- Approximately 0.98‑acre site with an about 2,562 SF two‑story converted building featuring flexible layouts
- Includes multiple offices, 5 bedrooms, and meeting spaces that can be used as offices or work areas
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
$34,308
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
7.62%
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%
$686,160
$686.2K
Cap Rate 7%
$490,114
$490.1K
Cap Rate 9%
$381,200
$381.2K
Market Conditions
NOI Build-Up for 2,562 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
$61.2K $23.87/SF
− Vacancy
−$15.4K −$6.02/SF
EGI
$45.7K $17.85/SF
− OpEx
−$11.4K −$4.46/SF
NOI
$34.3K $13.39/SF
Area
Gwinnett 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%
$686,160
Cap Rate 7%
$490,114
Cap Rate 9%
$381,200
Alternative Uses
Best Use
Office B
$490.1K
$428.9K – $571.8K
NOI $34,308 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$716.2K
$626.7K – $835.5K
NOI $50,132 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
800
Businesses Nearby
Explore this area
Business Placement
Demographics for 30047, GA
69,172
Population
22,691
Households
3
Avg Household Size
38
Median Age
39%
College-Educated
82%
High-School Grad
27.4 sq mi
ZIP Area
2,525
Density / Sq Mi
$85,909
Median Household Income
$41,760
Median Earnings
$1,681
Median Rent
$325,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Converted two-story building with flexible office and residential/business space, plus detached garage workshop and parking room.
Where is this office building located?
The property is located at 566 Hillcrest Rd Nw Lilburn, GA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Commercial Business (CB) zoned property in the City of Lilburn with versatile office, residential, and business space; Approximately 0.98‑acre site with an about 2,562 SF two‑story converted building featuring flexible layouts; Includes multiple offices, 5 bedrooms, and meeting spaces that can be used as offices or work areas
