Dual-Building Office
For Sale
$649,000
838 New Franklin Road, Lagrange, GA 30240
Commercial Sale, Lagrange, GA
Property Size4,900 SF
Lot Size0.69 Acres
Price / SF$132.45
Days on Market218
Property Features for 838 New Franklin Road
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Parking Lot
Lot features
Corner Lot, Level
Directions
NEW FRANKLIN ROAD/HWY 27 N FROM LAGRANGE. PROPERTY ON THE RIGHT ON THE CORNER OF NEW FRANKLIN ROAD/HWY 27 AND S PAGE STREET.
Standard status
Active
APN
0493C000061
Size
4,900 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7400
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
on-site parking
Building Details
Year built
2005
Flooring type
Vinyl, Concrete, Carpet
Building materials
Aluminum Siding, Block, Brick, Concrete, Frame, Glass, Stucco
Roof type
Metal
Listing Agency:
Daniel Realty & Insurance Agency
(706) 882-1848
Listed By:
David A Lock
(706) 885-2428
Added: Feb 20
Changed: Sep 13
Last Checked: Sep 26 at 11:06PM
MLS# 10695171
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 4,900-square-foot office property includes two separate buildings on a 0.686-acre corner lot. The primary building contains three suites with storefront glazing, while the secondary structure provides additional office or retail area. Interior finishes include carpet, concrete, and vinyl flooring, with central electric heating and cooling. The buildings were constructed in 2005 and feature a metal roof, along with a combination of block, brick, concrete, frame, glass, stucco, and aluminum siding construction materials.
Located at 838 New Franklin Road in Lagrange, Georgia, the property includes a parking lot, public water, public sewer, and available water service. The corner-lot setting and storefront windows provide the physical characteristics described for street-facing commercial occupancy.
Located at 838 New Franklin Road in Lagrange, Georgia, the property includes a parking lot, public water, public sewer, and available water service. The corner-lot setting and storefront windows provide the physical characteristics described for street-facing commercial occupancy.
Key Highlights
- Two separate buildings totaling 4,900 square feet
- Primary building includes three suites
- 0.686‑acre corner lot at 838 New Franklin Road
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two buildings provide multiple suites, storefront windows, and on-site parking for office or retail occupancy.
Where is this office building located?
The property is located at 838 New Franklin Road 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: Two separate buildings totaling 4,900 square feet; Primary building includes three suites; 0.686‑acre corner lot at 838 New Franklin Road
