New Industrial Project in
For Sale
Contact for pricing
161 Fritz Mar Ln, Athens, GA 30607
New industrial flex space for sale in Athens, Georgia.
Property Size4,000 SF
Price / SF$172.25
Days on Market669
Property Features for 161 Fritz Mar Ln
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Retail
Zoning
RM-1
Building Details
Year Built
2024
Listing Agency:
Brittany Purcell & Associates | Keller Williams Realty Greater Athens PLACE
(706) 389-0771
Listed By:
Alexander Purcell · License #GA 394288
Source:
Crexi
Added: Nov 1, 2024
Changed: Aug 31
Last Checked: May 12 at 9:22PM
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 Brittany Purcell & Associates | Keller Williams Realty Greater Athens PLACE
Investment Insights
Based on property information with market context.
Located in Athens Clarke County, 161 Fritz Mar is a new industrial project zoned "I" in the ACC TAD district. The development includes five 4,000 sq ft buildings and one 7,200 sq ft building divided into two units. This listing is for a 4,000 sq ft turn-key shell building (building 200 in the site plan). The shell building features metal construction with a brick front, two front entry doors, and two grade-level drive-in roll-up doors per plan. The building will be insulated and include a 4" sewer stub, a 3/4" water line, and electrical service with a meter base. Sidewalks and landscaping will be developed by the seller. Interior plumbing, electrical, and HVAC are not included. The building is currently under construction and is expected to be delivered by year-end.
Key Highlights
- New industrial project in Athens Clarke County with 'I' zoning and ACC TAD district benefits.
- Turn‑key 4000 sq ft shell building (Building 200) available for immediate purchase.**
- Metal construction with brick front, 2 front entry doors, and 2 grade‑level drive‑in roll‑up doors.
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
$24,367
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
3.54%
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%
$487,340
$487.3K
Cap Rate 7%
$348,100
$348.1K
Cap Rate 9%
$270,744
$270.7K
Market Conditions
NOI Build-Up for 4,000 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
$37.9K $9.48/SF
− Vacancy
−$3.1K −$0.78/SF
EGI
$34.8K $8.70/SF
− OpEx
−$10.4K −$2.61/SF
NOI
$24.4K $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%
$487,340
Cap Rate 7%
$348,100
Cap Rate 9%
$270,744
Alternative Uses
Best Use
Industrial
$348.1K
$304.6K – $406.1K
NOI $24,367 @ 7.0% cap · market cap 3.54%
Second Best
Flex RnD
$333.1K
$291.5K – $388.6K
NOI $23,317 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$964.3K
$843.8K – $1.13M
NOI $67,500 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
177
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - New industrial flex space for sale in Athens, Georgia.
Where is this flex space located?
The property is located at 161 Fritz Mar Ln Athens, GA.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: New industrial project in Athens Clarke County with 'I' zoning and ACC TAD district benefits.; Turn‑key 4000 sq ft shell building (Building 200) available for immediate purchase.**; Metal construction with brick front, 2 front entry doors, and 2 grade‑level drive‑in roll‑up doors.
