Office Building with Reception
For Sale
$925,000
7446 Covington Highway, Lithonia, GA 30058
Commercial Sale, Lithonia, GA
Property Size6,238 SF
Lot Size2.80 Acres
Price / SF$148.28
Days on Market47
Property Features for 7446 Covington Highway
General Information
Property type
Residential
Property subtype
Office
Zoning
C1
Parking
10
Interior features
High Ceilings 10 or Greater, Reception Area, Restrooms
Lot features
Level, Sloped
Directions
I-20 To Evans Mill Rd, Left on Evans Mill Rd, follow to Covington Hwy, make Left, Building on Right side- (Next to O'Rilley Auto Parts), I-285 to Covington Hwy. Follow 9 miles on Left Side. GPS is always a safe bet.
Special listing conditions
Real Estate Owned, In Foreclosure
Standard status
Active
APN
16 137 02 001
Size
6,238 SF
Lot size
2.80 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
23472
Utilities
Utilities
Cable Available
Heating system
Forced Air, Heat Pump (Heating), Zoned, Electric (Heating)
Cooling system
Heat Pump, Central Air
Building Details
Year built
2007
Floors in Building
1
Flooring type
Carpet, Vinyl
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Century 21 Connect Realty · Century 21 Real Estate
(770) 640-6800
Listed By:
QUINN GREEN
(770) 217-1008
Added: Aug 11
Changed: Sep 14
Last Checked: Sep 26 at 9:06PM
MLS# 7810460
Copyright © 2026 First Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,238-square-foot office building occupies 2.8 acres at 7446 Covington Highway in Lithonia. Built in 2007, the property includes a reception area, restrooms, and ceilings measuring 10 feet or greater. Interior finishes include carpet and vinyl flooring, while metal siding and a metal roof complete the exterior construction.
The property is located along Covington Highway in Lithonia, Georgia, with cable availability and a heating and cooling package that includes zoned forced-air heat, electric heat pump equipment, and central air conditioning. C1 zoning supports its commercial positioning, and the existing layout has been identified as a candidate for medical office conversion.
The property is located along Covington Highway in Lithonia, Georgia, with cable availability and a heating and cooling package that includes zoned forced-air heat, electric heat pump equipment, and central air conditioning. C1 zoning supports its commercial positioning, and the existing layout has been identified as a candidate for medical office conversion.
Key Highlights
- 6,238‑square‑foot office building on 2.8 acres
- C1 zoning at 7446 Covington Highway, Lithonia, GA 30058
- Built in 2007 with 10 feet or greater ceilings
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
$83,533
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
9.03%
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%
$1,670,660
$1.7M
Cap Rate 7%
$1,193,329
$1.2M
Cap Rate 9%
$928,144
$928.1K
Market Conditions
NOI Build-Up for 6,238 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
$148.9K $23.87/SF
− Vacancy
−$37.5K −$6.02/SF
EGI
$111.4K $17.85/SF
− OpEx
−$27.8K −$4.46/SF
NOI
$83.5K $13.39/SF
Area
DeKalb 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%
$1,670,660
Cap Rate 7%
$1,193,329
Cap Rate 9%
$928,144
Alternative Uses
Best Use
Healthcare Medical
$1.29M
$1.13M – $1.51M
NOI $90,445 @ 7.0% cap · market cap 9.78%
Second Best
Office B
$1.19M
$1.04M – $1.39M
NOI $83,533 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$1.74M
$1.53M – $2.03M
NOI $122,063 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
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
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 - C1-zoned office property with high ceilings, restrooms, and a mix of carpet and vinyl flooring.
Where is this office building located?
The property is located at 7446 Covington Highway Lithonia, GA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 6,238‑square‑foot office building on 2.8 acres; C1 zoning at 7446 Covington Highway, Lithonia, GA 30058; Built in 2007 with 10 feet or greater ceilings
