Warehouse with Office and
For Sale
$1,921,800
Pending
924 S Houston Lake Rd, Warner Robins, GA 31088
Functional warehouse with loading dock and two roll-up doors, paired with office/showroom space and kitchen plus restrooms.
Property Size10,773 SF
Days on Market240
Property Features for 924 S Houston Lake Rd
General Information
Standard status
Pending
Size
10,773 SF
Additional Details
Road Access
Yes
Dock-High Doors
1
Taxes and HOA fees
Annual Taxes
$6,379
Listing Agency:
Realty Hub of Georgia, LLC
(888) 900-1801
Listed By:
Crissy Collins
(478) 258-0747
Source:
Exprealty
Added: Jan 8
Changed: Sep 3
Last Checked: Sep 4 at 10:57AM
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 Realty Hub of Georgia, LLC
Investment Insights
Based on property information with market context.
This commercial warehouse and office/showroom space totals 10,773 square feet, combining operational back-of-house use with professional front-of-house areas. Approximately 6,000 square feet of warehouse includes a loading dock, two roll-up garage doors, a bathroom, and a secured, caged/locked inventory closet to support day-to-day distribution and light industrial operations.
The remaining space is configured as office and showroom area with multiple restrooms and a kitchen/breakroom for on-site staff and client interaction. The property offers strong accessibility and visibility along S Houston Lake Road.
Overall, the layout supports a wide range of owner-user or business needs that require both shipping/receiving capabilities and a dedicated administrative and showroom environment.
The remaining space is configured as office and showroom area with multiple restrooms and a kitchen/breakroom for on-site staff and client interaction. The property offers strong accessibility and visibility along S Houston Lake Road.
Overall, the layout supports a wide range of owner-user or business needs that require both shipping/receiving capabilities and a dedicated administrative and showroom environment.
Key Highlights
- 10,773 SF commercial warehouse and office/showroom space at 924 S Houston Lake Rd
- Warehouse area includes a loading dock and two roll‑up garage doors for shipping and receiving
- Warehouse features a secured, caged/locked inventory storage closet and a bathroom
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
$112,897
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
5.87%
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%
$2,257,940
$2.3M
Cap Rate 7%
$1,612,814
$1.6M
Cap Rate 9%
$1,254,411
$1.3M
Market Conditions
NOI Build-Up for 10,773 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
$183.6K $17.04/SF
− Vacancy
−$33.0K −$3.07/SF
EGI
$150.5K $13.97/SF
− OpEx
−$37.6K −$3.49/SF
NOI
$112.9K $10.48/SF
Area
Houston County, GA
Vacancy
18.00%
Lease Rate
$17.04 /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%
$2,257,940
Cap Rate 7%
$1,612,814
Cap Rate 9%
$1,254,411
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.88M
NOI $112,897 @ 7.0% cap · market cap 5.87%
Second Best
Flex RnD
$1.19M
$1.04M – $1.39M
NOI $83,492 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$2.33M
$2.03M – $2.71M
NOI $162,764 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 31088, GA
57,034
Population
24,167
Households
2.4
Avg Household Size
36
Median Age
36%
College-Educated
94%
High-School Grad
29.4 sq mi
ZIP Area
1,940
Density / Sq Mi
$81,507
Median Household Income
$44,764
Median Earnings
$1,224
Median Rent
$189,700
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?
Flex space - Functional warehouse with loading dock and two roll-up doors, paired with office/showroom space and kitchen plus restrooms.
Where is this flex space located?
The property is located at 924 S Houston Lake Rd Warner Robins, GA.
What is the asking price?
The asking price for this property is $1,921,800.
What are key features of this property?
This property features: 10,773 SF commercial warehouse and office/showroom space at 924 S Houston Lake Rd; Warehouse area includes a loading dock and two roll‑up garage doors for shipping and receiving; Warehouse features a secured, caged/locked inventory storage closet and a bathroom
