Listing Agency: GOLDEN KEY REALTY

Listed By: Gwen Giles · License #28181 Show Phone

Source: Exprealty

Added: Jan 5 Changed: Aug 25 Last Checked: Sep 6 at 10:01AM

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Investment Insights

Based on property information with market context.

This versatile commercial property on nearly 1 acre includes more than 3,600 square feet of office space with a layout designed for client-facing use. The interior features 8 private offices, 2 additional cubicles, 5 bathrooms, a large conference/meeting room, and a spacious showroom.

The building is supported by 3 HVAC units for climate control throughout. With more than 20 parking spaces available, it can accommodate both staff and visitors.

Located at 823 Ga Highway 247 S in Kathleen, GA, the property is positioned for a range of professional and client-oriented operations, including professional offices, medical or dental use, training facilities, retail showroom space, or a multi-tenant investment approach. Seller financing is available.

Key Highlights

• Nearly 1‑acre single‑story commercial building with a showroom plus office and meeting spaces
• Over 3,600 SF of office area including 8 private offices, 2 cubicles, and a large conference/meeting room
• 5 bathrooms to support staff and visitors

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

$45,101

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

5.15%

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%

$902,020 $902.0K

Cap Rate 7%

$644,300 $644.3K

Cap Rate 9%

$501,122 $501.1K

Market Conditions

NOI Build-Up for 3,600 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

$70.4K $19.56/SF

− Vacancy

−$6.0K −$1.66/SF

EGI

$64.4K $17.90/SF

− OpEx

−$19.3K −$5.37/SF

NOI

$45.1K $12.53/SF

Area

Houston County, GA

Vacancy

8.50%

Lease Rate

$19.56 /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%

$902,020

Cap Rate 7%

$644,300

Cap Rate 9%

$501,122

Alternative Uses

Best Use

Retail

$644.3K

$563.8K – $751.7K (±1% cap)

NOI $45,101 @ 7.0% cap · market cap 5.15%

Second Best

Office B

$539.0K

$471.6K – $628.8K (±1% cap)

NOI $37,727 @ 7.0% cap · market cap 4.31%

Theoretical Best

Office A

$777.0K

$679.9K – $906.5K (±1% cap)

NOI $54,391 @ 7.0% cap · market cap 6.22%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Restaurant Real Estate Agency Big Box & Wholesale Store Hair Salon HVAC Service Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

60

Businesses Nearby

Explore this area Business Placement

Demographics for 31047, GA

16,884

Population

7,243

Households

2.3

Avg Household Size

36

Median Age

46%

College-Educated

93%

High-School Grad

75.3 sq mi

ZIP Area

224

Density / Sq Mi

$115,581

Median Household Income

$57,555

Median Earnings

$1,514

Median Rent

$278,200

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Single-story commercial building with a showroom, conference room, multiple offices, and 20+ parking spaces.

Where is this office building located?

The property is located at 823 Ga Highway 247 S Kathleen, GA.

What is the asking price?

The asking price for this property is $875,000.

What are key features of this property?

This property features: Nearly 1‑acre single‑story commercial building with a showroom plus office and meeting spaces; Over 3,600 SF of office area including 8 private offices, 2 cubicles, and a large conference/meeting room; 5 bathrooms to support staff and visitors