Two-Story Office
New
For Sale
$4,000,000
6515 Shiloh Road, Alpharetta, GA 30005
Office condominium comprising Suites 300 and 400 with an existing five-year lease and renewal option.
Property Size35,854 SF
Price / SF$220.22
Days on Market3
Property Features for 6515 Shiloh Road
General Information
Standard status
Active
Size
35,854 SF
Class
B
Property subtype
Office
Net Operating Income
$1,455,032
Financials
Asking Price
$4,000,000
Cap Rate
7.28%
Additional Details
Highway Access
Yes
Building Details
Building Size
35,854 SF
Year Built
2006
Tenancy
Single
Listing Agency:
(404) 812-4024
Listed By:
Mike Berens
Source:
Naiglobal
Added: Aug 20
Changed: Aug 22
Last Checked: Aug 22 at 3:55AM
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 Mike Berens
Investment Insights
Based on property information with market context.
This two-floor office condominium includes Suites 300 and 400 and contains 18,164 SF. Built in 2006, the property is offered for sale with an existing five-year lease and an option to renew.
The asset is located at 6515 Shiloh Road in Alpharetta, Georgia, with access to 400 and Halcyon. The lease is associated with a 7.28% cap rate.
The asset is located at 6515 Shiloh Road in Alpharetta, Georgia, with access to 400 and Halcyon. The lease is associated with a 7.28% cap rate.
Key Highlights
- 18,164 SF office condominium across two floors
- Suites 300 and 400 included
- Built in 2006
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
$243,235
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
6.08%
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%
$4,864,700
$4.9M
Cap Rate 7%
$3,474,786
$3.5M
Cap Rate 9%
$2,702,611
$2.7M
Market Conditions
NOI Build-Up for 18,164 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
$433.6K $23.87/SF
− Vacancy
−$109.3K −$6.02/SF
EGI
$324.3K $17.85/SF
− OpEx
−$81.1K −$4.46/SF
NOI
$243.2K $13.39/SF
Area
Fulton 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%
$4,864,700
Cap Rate 7%
$3,474,786
Cap Rate 9%
$2,702,611
Alternative Uses
Best Use
Office B
$3.47M
$3.04M – $4.05M
NOI $243,235 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.08M
$4.44M – $5.92M
NOI $355,427 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
Explore this area
Business Placement
Demographics for 30005, GA
39,308
Population
14,879
Households
2.6
Avg Household Size
38
Median Age
76%
College-Educated
99%
High-School Grad
15.8 sq mi
ZIP Area
2,488
Density / Sq Mi
$170,951
Median Household Income
$82,686
Median Earnings
$1,929
Median Rent
$587,400
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 units - Office condominium comprising Suites 300 and 400 with an existing five-year lease and renewal option.
Where is this office units located?
The property is located at 6515 Shiloh Road Alpharetta, GA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 18,164 SF office condominium across two floors; Suites 300 and 400 included; Built in 2006
