Grovetown Office Building For
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442 Park W Dr, Grovetown, GA 30813
Office building with new long-term lease in Grovetown, GA.
Property Size4,024 SF
Price / SF$211.23
Days on Market1166
Property Features for 442 Park W Dr
General Information
Standard status
Active
Size
4,024 SF
Class
B
Property subtype
Office
Zoning
C-2
Net Operating Income
$48,887
Building Details
Year Built
1995
Buildings
1
Units
1
Listing Agency:
Sherman & Hemstreet Real Estate Company
Listed By:
Joe Edge · License #GA 282262
(706) 288-1077
Source:
Crexi
Added: Jun 26, 2023
Changed: Aug 31
Last Checked: Sep 2 at 11:28AM
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 Sherman & Hemstreet Real Estate Company
Investment Insights
Based on property information with market context.
This 4,024 square foot office building is located just off I-20 at the Belair Road exit, minutes from Fort Eisenhower via Jimmie Dyess Parkway. The property is surrounded by retailers, including Cracker Barrel, McDonald's, Pilot Travel Center, multiple hotels, and several light industrial users. The area benefits from high traffic counts and favorable demographics. The building features a large open room with offices around the exterior walls. It was previously used as a dialysis center. A new tenant, a pharmaceutical laboratory with excellent credit, has signed a brand new 5-year lease with three 5-year options to renew. The tenant is currently making improvements to the property as part of their tenancy. The roof is new. This income-producing property offers limited landlord responsibilities.
Key Highlights
- Brand new 5‑year lease with three 5‑year renewal options.
- Excellent credit Pharmaceutical Laboratory as new tenant.
- Limited landlord responsibilities and income producing.
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
$61,567
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
7.24%
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%
$1,231,340
$1.2M
Cap Rate 7%
$879,529
$879.5K
Cap Rate 9%
$684,078
$684.1K
Market Conditions
NOI Build-Up for 4,024 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
$96.6K $24.00/SF
− Vacancy
−$14.5K −$3.60/SF
EGI
$82.1K $20.40/SF
− OpEx
−$20.5K −$5.10/SF
NOI
$61.6K $15.30/SF
Area
Columbia County, 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%
$1,231,340
Cap Rate 7%
$879,529
Cap Rate 9%
$684,078
Alternative Uses
Best Use
Office B
$879.5K
$769.6K – $1.03M
NOI $61,567 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,909 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 30813, GA
49,376
Population
18,626
Households
2.7
Avg Household Size
33
Median Age
31%
College-Educated
91%
High-School Grad
50.4 sq mi
ZIP Area
980
Density / Sq Mi
$83,890
Median Household Income
$49,871
Median Earnings
$1,404
Median Rent
$270,300
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 - Office building with new long-term lease in Grovetown, GA.
Where is this office building located?
The property is located at 442 Park W Dr Grovetown, GA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Brand new 5‑year lease with three 5‑year renewal options.; Excellent credit Pharmaceutical Laboratory as new tenant.; Limited landlord responsibilities and income producing.
