Mixed-Use Loft with Private
For Sale
$550,000
585 White Cir Unit 402, Athens, GA 30605
CN-zoned space combines open interiors, office areas, a kitchen, and two full bathrooms.
Property Size2,108 SF
Price / SF$260.91
Days on Market28
Property Features for 585 White Cir Unit 402
General Information
Standard status
Active
Size
2,108 SF
Zoning
CN
Amenities
multiple skylights
two full bathrooms
beautifully appointed kitchen
private office areas
generous storage
large private outdoor patio
Building Details
Year Built
1900
Year Renovated
2020
Construction
brick
Listing Agency:
Coldwell Banker Upchurch Realty
(706) 543-4000
Listed By:
Maria Cardarelli · License #252021
Source:
Wadehouse
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 25 at 5:49AM
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 Coldwell Banker Upchurch Realty
Investment Insights
Based on property information with market context.
This approximately 2,108-square-foot mixed-use loft occupies Unit 402 at Whitehall Mill Lofts. Renovated in 2020, the space retains original brick walls, exposed-beam ceilings, hardwood flooring, and multiple skylights. Its layout includes open workspace, private offices, storage, a kitchen, two full bathrooms, and a large private patio. The property was built in 1900 and is zoned Commercial Neighborhood (CN).
Whitehall Mill Lofts is a historic mixed-use community along the North Oconee River in Athens. The property is minutes from Downtown Athens, the University of Georgia, the Loop, and major transportation routes. An ample parking lot serves the community. Potential professional, creative, service-oriented, or live-work applications are subject to applicable zoning requirements, approvals, parking requirements, and association restrictions.
Whitehall Mill Lofts is a historic mixed-use community along the North Oconee River in Athens. The property is minutes from Downtown Athens, the University of Georgia, the Loop, and major transportation routes. An ample parking lot serves the community. Potential professional, creative, service-oriented, or live-work applications are subject to applicable zoning requirements, approvals, parking requirements, and association restrictions.
Key Highlights
- Approximately 2,108 square feet in Unit 402 at Whitehall Mill Lofts
- Renovated in 2020 with original brick walls and exposed‑beam ceilings
- Open layout with private office areas, storage, kitchen, and two full bathrooms
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
$27,286
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
4.96%
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%
$545,720
$545.7K
Cap Rate 7%
$389,800
$389.8K
Cap Rate 9%
$303,178
$303.2K
Market Conditions
NOI Build-Up for 2,108 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
$45.5K $21.60/SF
− Vacancy
−$9.2K −$4.34/SF
EGI
$36.4K $17.26/SF
− OpEx
−$9.1K −$4.31/SF
NOI
$27.3K $12.94/SF
Area
Athens, GA
Vacancy
20.10%
Lease Rate
$21.60 /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%
$545,720
Cap Rate 7%
$389,800
Cap Rate 9%
$303,178
Alternative Uses
Best Use
Office B
$389.8K
$341.1K – $454.8K
NOI $27,286 @ 7.0% cap · market cap 4.96%
Second Best
Mixed Use
$357.8K
$313.0K – $417.4K
NOI $25,043 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$508.2K
$444.7K – $592.9K
NOI $35,572 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 30605, GA
43,205
Population
18,387
Households
2.3
Avg Household Size
28
Median Age
53%
College-Educated
91%
High-School Grad
38.2 sq mi
ZIP Area
1,131
Density / Sq Mi
$48,188
Median Household Income
$24,933
Median Earnings
$1,104
Median Rent
$279,200
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?
Mixed-use property - CN-zoned space combines open interiors, office areas, a kitchen, and two full bathrooms.
Where is this mixed-use property located?
The property is located at 585 White Cir Unit 402 Athens, GA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately 2,108 square feet in Unit 402 at Whitehall Mill Lofts; Renovated in 2020 with original brick walls and exposed‑beam ceilings; Open layout with private office areas, storage, kitchen, and two full bathrooms
