Renovated Office Building with
For Sale
Contact for pricing
6251 Smithpointe Dr, Norcross, GA 30092
Office building with executive suites for owner/user or investment.
Property Size10,640 SF
Price / SF$150.38
Days on Market840
Property Features for 6251 Smithpointe Dr
General Information
Standard status
Active
Size
10,640 SF
Class
B
Property subtype
Office
Zoning
C2
Occupancy
60%
Investment Type
Owner/User
Net Operating Income
$101,940
Building Details
Year Built
1986
Year Renovated
2015
Buildings
1
Stories
2
Units
30
Tenancy
Multi
Listing Agency:
NDI Maxim Real Estate
Listed By:
Tung Le · License #GA 293555
(770) 912-9684
Source:
Crexi
Added: Jun 3, 2024
Changed: Sep 13
Last Checked: Sep 19 at 9:00AM
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 NDI Maxim Real Estate
Investment Insights
Based on property information with market context.
This 10,640 square-foot office building is suitable for an owner/user, with built-in executive suites providing additional income potential. The property is divided into 30 executive suites. The current owner occupies the main area near the entrance and leases the remaining space to tenants such as online car brokers and virtual offices. The building was renovated in 2015, with updates including parking, roof, and LED lighting. The property is located 1.5 miles from Peachtree Industrial Blvd, 5.5 miles from I-285, and 6.5 miles from GA-400.
Key Highlights
- Opportunity for owner/user to occupy space and generate rental income from executive suites to cover mortgage.
- 10,640 sqft building divided into 30 executive suites.
- Renovated in 2015 with newer parking, roof, and LED lights.
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
$142,481
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
8.91%
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%
$2,849,620
$2.8M
Cap Rate 7%
$2,035,443
$2.0M
Cap Rate 9%
$1,583,122
$1.6M
Market Conditions
NOI Build-Up for 10,640 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
$254.0K $23.87/SF
− Vacancy
−$64.0K −$6.02/SF
EGI
$190.0K $17.85/SF
− OpEx
−$47.5K −$4.46/SF
NOI
$142.5K $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%
$2,849,620
Cap Rate 7%
$2,035,443
Cap Rate 9%
$1,583,122
Alternative Uses
Best Use
Office B
$2.04M
$1.78M – $2.37M
NOI $142,481 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $208,200 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 30092, GA
35,988
Population
16,525
Households
2.2
Avg Household Size
36
Median Age
53%
College-Educated
95%
High-School Grad
11.2 sq mi
ZIP Area
3,213
Density / Sq Mi
$77,339
Median Household Income
$47,727
Median Earnings
$1,634
Median Rent
$465,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Office building with executive suites for owner/user or investment.
Where is this office building located?
The property is located at 6251 Smithpointe Dr Norcross, GA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Opportunity for owner/user to occupy space and generate rental income from executive suites to cover mortgage.; 10,640 sqft building divided into 30 executive suites.; Renovated in 2015 with newer parking, roof, and LED lights.
