Industrial Building with Secured
For Sale
Contact for pricing
Pending
500 Dairy Pak Rd, Athens, GA 30607
42,000 SF industrial building near Downtown Athens and UGA.
Property Size42,000 SF
Lot Size3.29 Acres
Days on Market747
Property Features for 500 Dairy Pak Rd
General Information
Standard status
Pending
Size
42,000 SF
Lot size
3.29 Acres
Property subtype
Industrial
Zoning
Industrial Zoning of (I)
Lease Type
NNN
Building Details
Tenancy
Single
Listing Agency:
Oxbow Real Estate LLC
(404) 275-5794
Listed By:
Will Alligood · License #GA 364260
Source:
Crexi
Added: Jul 27, 2024
Changed: Aug 8
Last Checked: Aug 11 at 7:27PM
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 Oxbow Real Estate LLC
Investment Insights
Based on property information with market context.
This 42,000 SF industrial building is situated on 3.29 acres and features secured outdoor storage. The property is located less than 2 miles from Downtown Athens and the University of Georgia. It benefits from Clarke County's heaviest industrial zoning (I), a CSX rail spur, and 2 acres of fenced paved storage. Climate control systems are installed in the warehouse. The building includes approximately 4,500 SF of mezzanine office space, 2 dock doors, and 4 drive-in doors (14x14). Constructed in three phases, the building can be divided into three suites of approximately 10,000 SF, 17,500 SF, and 14,500 SF. Currently, all suites are demised and connected through case openings. Each suite has an office and restrooms.
Key Highlights
- Rare 42,000 SF industrial building on 3.29 acres with secured outdoor storage.
- Located less than 2 miles from Downtown Athens and the University of Georgia.
- Clarke County's Heaviest Industrial Zoning (I) and CSX rail spur.
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
$255,858
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
7.87%
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%
$5,117,160
$5.1M
Cap Rate 7%
$3,655,114
$3.7M
Cap Rate 9%
$2,842,867
$2.8M
Market Conditions
NOI Build-Up for 42,000 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
$398.2K $9.48/SF
− Vacancy
−$32.6K −$0.78/SF
EGI
$365.5K $8.70/SF
− OpEx
−$109.7K −$2.61/SF
NOI
$255.9K $6.09/SF
Area
Athens, GA
Vacancy
8.20%
Lease Rate
$9.48 /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%
$5,117,160
Cap Rate 7%
$3,655,114
Cap Rate 9%
$2,842,867
Alternative Uses
Best Use
Office B
$7.77M
$6.80M – $9.06M
NOI $543,640 @ 7.0% cap · market cap 16.73%
Second Best
Warehouse
$4.40M
$3.85M – $5.14M
NOI $308,315 @ 7.0% cap · market cap 9.49%
Theoretical Best
Office A
$10.12M
$8.86M – $11.81M
NOI $708,745 @ 7.0% cap · market cap 21.81%
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
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30607, GA
11,383
Population
4,504
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
37.2 sq mi
ZIP Area
306
Density / Sq Mi
$63,727
Median Household Income
$35,972
Median Earnings
$1,012
Median Rent
$235,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Chase Street Self Storage — 1150 N Chase St, Athens, GA 30601
- Storage Rentals of America — 1225 Commerce Rd, Athens, GA 30607
Frequently Asked Questions
What type of property is this?
Warehouse - 42,000 SF industrial building near Downtown Athens and UGA.
Where is this warehouse located?
The property is located at 500 Dairy Pak Rd Athens, GA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Rare 42,000 SF industrial building on 3.29 acres with secured outdoor storage.; Located less than 2 miles from Downtown Athens and the University of Georgia.; Clarke County's Heaviest Industrial Zoning (I) and CSX rail spur.
