Two-Story Storefront
For Sale
$400,000
7295 NW Covington Hwy NW, Lithonia, GA 30058
Flexible two-level layout accommodates retail, office, creative, or specialty service uses.
Property Size1,740 SF
Price / SF$229.89
Days on Market45
Property Features for 7295 NW Covington Hwy NW
General Information
Standard status
Active
Size
1,740 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1955
Buildings
1
Stories
2
Listing Agency:
Vickie Lester Realty, LLC
(770) 853-4701
Listed By:
Vickie Lester · License #170272
Source:
Annakintown
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 25 at 3:59AM
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 Vickie Lester Realty, LLC
Investment Insights
Based on property information with market context.
This two-story storefront property offers 1,740 square feet of space arranged across two levels. Built in 1955, the building provides a flexible interior for retail, office, creative workspace, or specialty service concepts. Its open configuration allows the next owner to organize the space around a specific business plan or multiple uses.
The property is located at 7295 NW Covington Hwy NW in Lithonia, Georgia, within an active business district in the Lithonia/Stonecrest market. Access to I-20 and I-285 connects the site with both expressways and the surrounding commercial area.
The property is located at 7295 NW Covington Hwy NW in Lithonia, Georgia, within an active business district in the Lithonia/Stonecrest market. Access to I-20 and I-285 connects the site with both expressways and the surrounding commercial area.
Key Highlights
- Two‑story storefront property with 1,740 square feet
- Flexible space across both levels for retail, office, creative, or specialty service uses
- Built in 1955
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
$24,474
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
6.12%
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%
$489,480
$489.5K
Cap Rate 7%
$349,629
$349.6K
Cap Rate 9%
$271,933
$271.9K
Market Conditions
NOI Build-Up for 1,740 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
$38.2K $21.96/SF
− Vacancy
−$3.2K −$1.87/SF
EGI
$35.0K $20.09/SF
− OpEx
−$10.5K −$6.03/SF
NOI
$24.5K $14.07/SF
Area
DeKalb 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%
$489,480
Cap Rate 7%
$349,629
Cap Rate 9%
$271,933
Alternative Uses
Best Use
Retail
$349.6K
$305.9K – $407.9K
NOI $24,474 @ 7.0% cap · market cap 6.12%
Second Best
Office B
$332.9K
$291.3K – $388.3K
NOI $23,300 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$486.4K
$425.6K – $567.5K
NOI $34,048 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30058, GA
59,445
Population
23,671
Households
2.5
Avg Household Size
36
Median Age
30%
College-Educated
90%
High-School Grad
30.5 sq mi
ZIP Area
1,949
Density / Sq Mi
$62,633
Median Household Income
$36,992
Median Earnings
$1,478
Median Rent
$221,200
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?
Storefront property - Flexible two-level layout accommodates retail, office, creative, or specialty service uses.
Where is this storefront property located?
The property is located at 7295 NW Covington Hwy NW Lithonia, GA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑story storefront property with 1,740 square feet; Flexible space across both levels for retail, office, creative, or specialty service uses; Built in 1955
