Two-Building Mixed-Use
For Sale
$649,000
838 New Franklin Rd, Lagrange, GA 30240
Two separate buildings provide suite-based storefront space alongside additional office or retail areas.
Property Size4,900 SF
Price / SF$132.45
Days on Market131
Property Features for 838 New Franklin Rd
General Information
Standard status
Active
Size
4,900 SF
Additional Details
Corner Location
Yes
Building Details
Year Built
2005
Buildings
2
Listing Agency:
Daniel Realty & Insurance Agency
(706) 882-1848
Listed By:
David Lock
Source:
Jetsetrealty
Added: Apr 24
Changed: Aug 31
Last Checked: Aug 30 at 8:48PM
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 Daniel Realty & Insurance Agency
Investment Insights
Based on property information with market context.
This mixed-use property contains 4,900 square feet across two separate buildings. The primary structure includes three suites, central air, and a combination of vinyl, concrete, and carpet finishes. Expansive storefront windows bring natural light into the main building, while the second structure adds office or retail space.
The property occupies a corner lot along a paved US highway road and includes a paved driveway with on-site parking. Built in 2005, the site offers a combination of storefront, office, and additional commercial space within a two-building configuration.
The property occupies a corner lot along a paved US highway road and includes a paved driveway with on-site parking. Built in 2005, the site offers a combination of storefront, office, and additional commercial space within a two-building configuration.
Key Highlights
- 4,900 SF mixed‑use property with two separate commercial buildings
- Main building includes 3 suites and expansive storefront windows
- Second building provides additional office or retail space
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
$59,685
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
9.20%
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%
$1,193,700
$1.2M
Cap Rate 7%
$852,643
$852.6K
Cap Rate 9%
$663,167
$663.2K
Market Conditions
NOI Build-Up for 4,900 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
$89.4K $18.24/SF
− Vacancy
−$4.1K −$0.84/SF
EGI
$85.3K $17.40/SF
− OpEx
−$25.6K −$5.22/SF
NOI
$59.7K $12.18/SF
Area
Troup County, GA
Vacancy
4.60%
Lease Rate
$18.24 /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%
$1,193,700
Cap Rate 7%
$852,643
Cap Rate 9%
$663,167
Alternative Uses
Best Use
Retail
$852.6K
$746.1K – $994.8K
NOI $59,685 @ 7.0% cap · market cap 9.20%
Second Best
Office B
$818.6K
$716.2K – $955.0K
NOI $57,299 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$1.10M
$959.3K – $1.28M
NOI $76,747 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 30240, GA
30,119
Population
12,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
139.6 sq mi
ZIP Area
216
Density / Sq Mi
$59,521
Median Household Income
$40,611
Median Earnings
$1,035
Median Rent
$221,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two separate buildings provide suite-based storefront space alongside additional office or retail areas.
Where is this mixed-use property located?
The property is located at 838 New Franklin Rd Lagrange, GA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 4,900 SF mixed‑use property with two separate commercial buildings; Main building includes 3 suites and expansive storefront windows; Second building provides additional office or retail space
