Flex Space with Shop
New
For Sale
$725,000
810 Old Hull Road, Athens, GA 30601
E-1-zoned flex property with three-phase power, a roll-up loading bay, office area, and two bathrooms.
Property Size1,985 SF
Lot Size1.47 Acres
Price / SF$181.25
Days on Market4
Property Features for 810 Old Hull Road
General Information
Standard status
Active
Size
1,985 SF
Lot size
1.47 Acres
Property subtype
Other
Zoning
E-1
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Additional Details
Three-Phase Power
Yes
Amenities
1.47 acres, Level
Annual Amount: $3,310, Year: 2025
Concrete
Electric
Cumulative Days on Market: 1, First day on market, On Market Date: 2026-09-16
Built in 1985, Warehouse
County: Clarke
Resale
Water Available, Public
Close Of Escrow
Security Gate
Building Details
Building Size
1,985 SF
Year Built
1985
Listing Agency:
Keller Williams Greater Athens
(706) 316-2900
Listed By:
Brittany Purcell & Associates
(706) 389-0771
Source:
Blackstreaminternational
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 19 at 9:51AM
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 Keller Williams Greater Athens
Investment Insights
Based on property information with market context.
Located at 810 Old Hull Rd in Athens, this flex property includes approximately 4,000 square feet of building space on 1.47 acres. The facility is currently used as a machine shop and combines warehouse and shop areas with a small office, two bathrooms, a loading bay, and a roll-up door. Three-phase power and public water support a range of commercial and industrial operations, while the site provides outdoor area for vehicles, trailers, equipment, materials, and inventory.
The property is zoned E-1 and sits directly behind Athens Technical College. Access to Hwy 29, Hwy 72, and Loop 10 connects the site with Athens and surrounding areas. Built in 1985, the property offers a functional base for businesses requiring indoor work areas, storage, and exterior operating space.
The property is zoned E-1 and sits directly behind Athens Technical College. Access to Hwy 29, Hwy 72, and Loop 10 connects the site with Athens and surrounding areas. Built in 1985, the property offers a functional base for businesses requiring indoor work areas, storage, and exterior operating space.
Key Highlights
- Approximately 4,000 square feet of building space on 1.47 acres
- Three‑phase power and public water
- Loading bay with roll‑up door
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
$29,363
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
4.05%
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%
$587,260
$587.3K
Cap Rate 7%
$419,471
$419.5K
Cap Rate 9%
$326,256
$326.3K
Market Conditions
NOI Build-Up for 4,000 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
$37.9K $9.48/SF
− Vacancy
−$3.4K −$0.84/SF
EGI
$34.5K $8.64/SF
− OpEx
−$5.2K −$1.30/SF
NOI
$29.4K $7.34/SF
Area
Athens, GA
Vacancy
8.90%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$587,260
Cap Rate 7%
$419,471
Cap Rate 9%
$326,256
Alternative Uses
Best Use
Warehouse
$419.5K
$367.0K – $489.4K
NOI $29,363 @ 7.0% cap · market cap 4.05%
Second Best
Industrial
$348.1K
$304.6K – $406.1K
NOI $24,367 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$964.3K
$843.8K – $1.13M
NOI $67,500 @ 7.0% cap · market cap 9.31%
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
Location Intelligence
Trade Area within ½ mile
178
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30601, GA
25,036
Population
11,634
Households
2.2
Avg Household Size
28
Median Age
37%
College-Educated
84%
High-School Grad
23.4 sq mi
ZIP Area
1,070
Density / Sq Mi
$37,357
Median Household Income
$24,639
Median Earnings
$1,198
Median Rent
$213,300
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 Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - E-1-zoned flex property with three-phase power, a roll-up loading bay, office area, and two bathrooms.
Where is this flex space located?
The property is located at 810 Old Hull Road Athens, GA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Approximately 4,000 square feet of building space on 1.47 acres; Three‑phase power and public water; Loading bay with roll‑up door
