Gun Range and Retail
For Sale
Contact for pricing
6190 PARKWAY NORTH Drive, Cumming, GA 30040
4.7 acres with 7500 sqft building in industrial park.
Property Size7,500 SF
Lot Size4.70 Acres
Price / SF$219.87
Days on Market772
Property Features for 6190 PARKWAY NORTH Drive
General Information
Standard status
Active
Size
7,500 SF
Total Parking Spaces
10
Lot size
4.70 Acres
Property subtype
Industrial, Retail
Building Details
Year Built
2005
Buildings
1
Listing Agency:
Chapman Hall Professionals
Listed By:
Mike Lundy
Source:
Crexi
Added: Jul 13, 2024
Changed: Aug 19
Last Checked: Aug 22 at 3:36AM
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 Chapman Hall Professionals
Investment Insights
Based on property information with market context.
This property features 4.7 acres of land with a 7500 sqft building situated at the rear of an industrial park in south Forsyth County. Currently operating as an indoor gun range and retail store, the building includes a retail area at the front, a private office with a half bath, two public restrooms, and a medium-sized classroom or conference room. The back portion of the space, presently used as a gun range, could be adapted for use as a warehouse, auto shop, or other space. A large cleared area below the building presents opportunities for storage or the addition of another building. Gaining vehicle access to the lower level of the property will require some improvements. The property is suitable for retail, sports and entertainment, warehouse, industrial, or automotive purposes.
Key Highlights
- 4.7 acres of land in south Forsyth county
- 7500 sqft building suitable for retail, warehouse, or auto shop**
- Currently operated as an indoor gun range and retail store
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
$105,490
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
6.40%
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%
$2,109,800
$2.1M
Cap Rate 7%
$1,507,000
$1.5M
Cap Rate 9%
$1,172,111
$1.2M
Market Conditions
NOI Build-Up for 7,500 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
$164.7K $21.96/SF
− Vacancy
−$14.0K −$1.87/SF
EGI
$150.7K $20.09/SF
− OpEx
−$45.2K −$6.03/SF
NOI
$105.5K $14.07/SF
Area
Forsyth County, GA
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$2,109,800
Cap Rate 7%
$1,507,000
Cap Rate 9%
$1,172,111
Alternative Uses
Best Use
Retail
$1.51M
$1.32M – $1.76M
NOI $105,490 @ 7.0% cap · market cap 6.40%
Second Best
Warehouse
$786.5K
$688.2K – $917.6K
NOI $55,056 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$2.10M
$1.83M – $2.45M
NOI $146,758 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Retail space - 4.7 acres with 7500 sqft building in industrial park.
Where is this retail space located?
The property is located at 6190 PARKWAY NORTH Drive Cumming, GA.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: 4.7 acres of land in south Forsyth county; 7500 sqft building suitable for retail, warehouse, or auto shop**; Currently operated as an indoor gun range and retail store
