5-Unit Apartment
For Sale
$900,000
602-610 W Boundary St, Dalton, GA 30720
Five tenant-occupied residences are being conveyed together as one property.
Property Size5,472 SF
Price / SF$164.47
Days on Market9
Property Features for 602-610 W Boundary St
General Information
Standard status
Active
Size
5,472 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
5
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Heritage
Listed By:
Shanelle Greene 7064593107
(706) 313-5704
Source:
Viewchattanoogaproperties
Added: Sep 22
Changed: Sep 29
Last Checked: Sep 29 at 2:39PM
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 Keller Williams Heritage
Investment Insights
Based on property information with market context.
This 5,472-square-foot apartment property contains five condominium units, offered as a single sale. A recently installed roof and storm windows are among the building’s updates. All five units have tenants, providing existing rental occupancy.
The property is near Dalton High School and I-75, with schools, shopping, and dining also in the surrounding area.
The property is near Dalton High School and I-75, with schools, shopping, and dining also in the surrounding area.
Key Highlights
- Five condominium units sold together as one property
- 5,472 square feet in a single building
- All five units have tenants
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
$33,280
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
3.70%
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%
$665,600
$665.6K
Cap Rate 7%
$475,429
$475.4K
Cap Rate 9%
$369,778
$369.8K
Market Conditions
NOI Build-Up for 5,472 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
$63.7K $11.64/SF
− Vacancy
−$3.2K −$0.58/SF
EGI
$60.5K $11.06/SF
− OpEx
−$27.2K −$4.98/SF
NOI
$33.3K $6.08/SF
Area
Whitfield County, GA
Vacancy
5.00%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$665,600
Cap Rate 7%
$475,429
Cap Rate 9%
$369,778
Alternative Uses
Best Use
Apartment 5plus
$475.4K
$416.0K – $554.7K
NOI $33,280 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$873.8K
$764.6K – $1.02M
NOI $61,167 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Explore this area
Business Placement
Demographics for 30720, GA
27,547
Population
10,731
Households
2.6
Avg Household Size
37
Median Age
29%
College-Educated
77%
High-School Grad
48.6 sq mi
ZIP Area
567
Density / Sq Mi
$65,620
Median Household Income
$38,014
Median Earnings
$965
Median Rent
$225,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Five tenant-occupied residences are being conveyed together as one property.
Where is this apartment building located?
The property is located at 602-610 W Boundary St Dalton, GA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Five condominium units sold together as one property; 5,472 square feet in a single building; All five units have tenants
