Flexible Flex/Warehouse
For Sale
$825,000
912 Jernigan St, Perry, GA 31069
Versatile flex/warehouse property in downtown Perry supports single-user use or subdivision for multiple tenants.
Property Size6,800 SF
Days on Market48
Property Features for 912 Jernigan St
General Information
Standard status
Active
Size
6,800 SF
Property subtype
Industrial - Warehouse/Distribution
Building Details
Building Size
6,800 SF
Year Built
1920
Listing Agency:
Coldwell Banker Commercial Eberhardt & Barry
(478) 746-8171
Listed By:
Raymond Moore
Source:
Commercialcafe
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 28 at 7:25AM
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 Coldwell Banker Commercial Eberhardt & Barry
Investment Insights
Based on property information with market context.
Located at 910/912 Jernigan Street in Perry, Georgia, this versatile commercial building offers a flexible layout intended to support a variety of uses. The configuration accommodates single-user occupancy and also allows the space to be subdivided for multiple tenants, giving buyers options for how they operate or lease the property. The building is being sold “as is, where is.”
The property is situated within the covenanted downtown Perry corridor near civic, retail, and business anchors, with an emphasis on strong visibility and consistent traffic patterns associated with the corridor designation.
For prospective owner-users and investors, the primary practical takeaway is adaptability: the existing layout is designed to work either as one contiguous space or as smaller units, subject to applicable approvals for intended uses.
The property is situated within the covenanted downtown Perry corridor near civic, retail, and business anchors, with an emphasis on strong visibility and consistent traffic patterns associated with the corridor designation.
For prospective owner-users and investors, the primary practical takeaway is adaptability: the existing layout is designed to work either as one contiguous space or as smaller units, subject to applicable approvals for intended uses.
Key Highlights
- Commercial property at 910/912 Jernigan Street in Perry, GA
- Built in 1920
- Flexible layout supports single‑user occupancy or subdivision into multiple tenant spaces
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
$52,701
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
6.39%
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%
$1,054,020
$1.1M
Cap Rate 7%
$752,871
$752.9K
Cap Rate 9%
$585,567
$585.6K
Market Conditions
NOI Build-Up for 6,800 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
$88.1K $12.96/SF
− Vacancy
−$7.1K −$1.04/SF
EGI
$81.1K $11.92/SF
− OpEx
−$28.4K −$4.17/SF
NOI
$52.7K $7.75/SF
Area
Houston County, GA
Vacancy
8.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,054,020
Cap Rate 7%
$752,871
Cap Rate 9%
$585,567
Alternative Uses
Best Use
Flex RnD
$752.9K
$658.8K – $878.4K
NOI $52,701 @ 7.0% cap · market cap 6.39%
Second Best
Warehouse
$554.1K
$484.8K – $646.4K
NOI $38,786 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,738 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31069, GA
22,915
Population
9,389
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
94%
High-School Grad
99.8 sq mi
ZIP Area
230
Density / Sq Mi
$75,526
Median Household Income
$48,601
Median Earnings
$997
Median Rent
$205,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Push Button Foood Services — 909 Jernigan St #3, Perry, GA 31069
- Bar Go LLC — 736 Carroll St, Perry, GA 31069
- Bodega Brew — 1025 Ball St, Perry, GA 31069
Frequently Asked Questions
What type of property is this?
Flex space - Versatile flex/warehouse property in downtown Perry supports single-user use or subdivision for multiple tenants.
Where is this flex space located?
The property is located at 912 Jernigan St Perry, GA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Commercial property at 910/912 Jernigan Street in Perry, GA; Built in 1920; Flexible layout supports single‑user occupancy or subdivision into multiple tenant spaces
