Listing Agency: GOLDEN KEY REALTY Show Phone

Listed By: Gwen Giles · License #28181 Show Phone

Added: Oct 15 Last Checked: Oct 16 at 8:06AM

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MLS# 266341

Copyright © 2026 Central Georgia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

The 3,600-square-foot office property occupies a 0.93-acre site at 823 S 247 Highway in Kathleen. Its interior includes 8 private offices, 2 cubicles, 5 bathrooms, a conference room, and a showroom. The building has 3 HVAC units, central air conditioning, and electric central heating and cooling, with septic service.

More than 20 parking spaces serve the property. The site is zoned M1 and is located in Houston County, Georgia.

Key Highlights

• 3,600‑square‑foot office building on a 0.93‑acre site
• Interior includes 8 private offices, 2 cubicles, 5 bathrooms, a conference room, and a showroom
• More than 20 parking spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,727

Cap Rate

4.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$754,540 $754.5K

Cap Rate 7%

$538,957 $539.0K

Cap Rate 9%

$419,189 $419.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,600 SF

Gross rent

$61.3K $17.04/SF

− Vacancy

−$11.0K −$3.07/SF

EGI

$50.3K $13.97/SF

− OpEx

−$12.6K −$3.49/SF

NOI

$37.7K $10.48/SF

Area

Houston County, GA

Vacancy

18.00%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$754,540

Cap Rate 7%

$538,957

Cap Rate 9%

$419,189

Alternative Uses

Best Use

Office B

$539.0K

$471.6K – $628.8K (±1% cap)

NOI $37,727 @ 7.0% cap · market cap 4.75%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$777.0K

$679.9K – $906.5K (±1% cap)

NOI $54,391 @ 7.0% cap · market cap 6.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office buildings

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

Frequently Asked Questions

What type of property is this?

Office building - Work areas, meeting space, and a customer-facing showroom support a range of office configurations.

Where is this office building located?

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

What is the asking price?

The asking price for this property is $795,000.

What are key features of this property?

This property features: 3,600‑square‑foot office building on a 0.93‑acre site; Interior includes 8 private offices, 2 cubicles, 5 bathrooms, a conference room, and a showroom; More than 20 parking spaces