Flex Space with Loading
For Sale
$725,000
810 Old Hull Road, Athens, GA 30601
Commercial Sale, Athens, GA
Property Size4,000 SF
Lot Size1.47 Acres
Price / SF$181.25
Days on Market8
Property Features for 810 Old Hull Road
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security
Lot features
Level
Directions
Exit the parking lot toward E Hancock Ave 92 ft Turn right toward E Hancock Ave 105 ft Turn right onto E Hancock Ave 269 ft Turn left onto College Ave 318 ft Turn right onto E Dougherty St/North Ave Continue to follow E Dougherty St 0.2 mi Turn left onto North Ave Pass by AutoZone Auto Parts (on the left in 1 mi) 1.1 mi Turn right onto Old Hull Rd Destination will be on the right 2.1 mi
Standard status
Active
APN
221 005C
Size
4,000 SF
Lot size
1.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3310
Utilities
Utilities
Water Available
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1985
Flooring type
Concrete
Listing Agency:
Keller Williams Greater Athens · Keller Williams Realty
(706) 316-2900
Listed By:
Brittany Purcell & Associates
(706) 389-0771
Added: Sep 10
Changed: Sep 16
Last Checked: Sep 17 at 4:06PM
MLS# 10847104
Copyright © 2026 Georgia Multiple Listing Service. 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 4,000-square-foot flex property occupies 1.47 acres and is currently used as a machine shop. The building includes a loading bay with a roll-up door, three-phase power, a small office, two bathrooms, concrete flooring, electric heating and cooling, and public water. Outdoor areas provide space for work vehicles, trailers, equipment, materials, and inventory.
The property is positioned behind Athens Technical College at 810 Old Hull Road in Athens, Clarke County. Access to Hwy 29, Hwy 72, and Loop 10 connects the site with Athens and surrounding areas. E-1 zoning supports a range of commercial and industrial applications, while the existing shop and warehouse configuration accommodates businesses requiring both indoor work areas and exterior storage or staging space.
The property is positioned behind Athens Technical College at 810 Old Hull Road in Athens, Clarke County. Access to Hwy 29, Hwy 72, and Loop 10 connects the site with Athens and surrounding areas. E-1 zoning supports a range of commercial and industrial applications, while the existing shop and warehouse configuration accommodates businesses requiring both indoor work areas and exterior storage or staging space.
Key Highlights
- 1.47‑acre site with approximately 4,000 square feet of building space
- Current machine shop operation with warehouse and shop areas
- Three‑phase power, public water, and concrete flooring
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Functional commercial space with shop, warehouse, office, and outdoor work areas in an E-1-zoned setting.
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: 1.47‑acre site with approximately 4,000 square feet of building space; Current machine shop operation with warehouse and shop areas; Three‑phase power, public water, and concrete flooring
