Two-Story Office Building For
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1046 Stevens Creek Rd, Augusta, GA 30907
15,000 SF office building 100% occupied by national tenant.
Property Size15,066 SF
Price / SF$182.53
Days on Market743
Property Features for 1046 Stevens Creek Rd
General Information
Standard status
Active
Size
15,066 SF
Class
B
Total Parking Spaces
90
Property subtype
Office
Zoning
B-2
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1973
Buildings
1
Stories
2
Listing Agency:
Meybohm Commercial
Listed By:
David Hogg · License #GA 365568
(706) 394-3011
Source:
Crexi
Added: Aug 23, 2024
Changed: Aug 26
Last Checked: Aug 29 at 10:47PM
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 Meybohm Commercial
Investment Insights
Based on property information with market context.
This is a two-story suburban professional office building with approximately 15,000 square feet of space. The building is 100% occupied by MAG Aerospace, a national tenant operating under a NNN lease. The property is equipped with state-of-the-art technology and security features. Interior features include bathrooms and break rooms on both floors, a raised floor data room, and a large training room on the first floor. The property includes additional expansion land and ample parking with over 90 spaces, complemented by landscaped surroundings. The building is located in the Martinez area of Augusta, Georgia, just off the I-20 Washington Road Exit on Stevens Creek Road. The property is visible from I-20 at the corner of Stevens Creek and Claussen Roads. The property consists of three parcels: part of 012-0-014-01-0, all of 012-0-014-04-0 and 012-0-012-00-0.
Key Highlights
- 100% occupied by NNN national tenant MAG Aerospace, providing stable income
- Located in the thriving Martinez area of Augusta, GA, with high visibility from I‑20
- +/- 15,000 SF two‑story professional office building with ample parking (over 90 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
$230,510
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
8.38%
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%
$4,610,200
$4.6M
Cap Rate 7%
$3,293,000
$3.3M
Cap Rate 9%
$2,561,222
$2.6M
Market Conditions
NOI Build-Up for 15,066 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
$361.6K $24.00/SF
− Vacancy
−$54.2K −$3.60/SF
EGI
$307.3K $20.40/SF
− OpEx
−$76.8K −$5.10/SF
NOI
$230.5K $15.30/SF
Area
Augusta, GA
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,610,200
Cap Rate 7%
$3,293,000
Cap Rate 9%
$2,561,222
Alternative Uses
Best Use
Office B
$3.29M
$2.88M – $3.84M
NOI $230,510 @ 7.0% cap · market cap 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.76M
$4.16M – $5.55M
NOI $332,880 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
746
Businesses Nearby
Explore this area
Business Placement
Demographics for 30907, GA
50,964
Population
22,219
Households
2.3
Avg Household Size
39
Median Age
39%
College-Educated
91%
High-School Grad
24.1 sq mi
ZIP Area
2,115
Density / Sq Mi
$83,349
Median Household Income
$45,692
Median Earnings
$1,211
Median Rent
$232,000
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?
Office building - 15,000 SF office building 100% occupied by national tenant.
Where is this office building located?
The property is located at 1046 Stevens Creek Rd Augusta, GA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 100% occupied by NNN national tenant MAG Aerospace, providing stable income; Located in the thriving Martinez area of Augusta, GA, with high visibility from I‑20; +/- 15,000 SF two‑story professional office building with ample parking (over 90 spaces)
