Government Office Building with Long
For Sale
$4,350,000
96 Cohen Walker Dr, Warner Robins, GA 31088
Single-tenant government office anchored by Georgia Department of Labor Career Center with lease through 2041.
Property Size12,490 SF
Price / SF$348.28
Days on Market61
Property Features for 96 Cohen Walker Dr
General Information
Standard status
Active
Size
12,490 SF
Listing Agency:
COLDWELL BANKER FREE REALTY
(478) 951-3333
Listed By:
Scott Free · License #GA140455
(478) 951-3333
Source:
Exprealty
Added: Jun 25
Changed: Aug 24
Last Checked: Aug 23 at 2:59PM
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 FREE REALTY
Investment Insights
Based on property information with market context.
96 Cohen Walker Drive is a government office property operated as a workforce and career services center. The asset is anchored by the Georgia Department of Labor’s Houston County Career Center, supporting job seekers and employers through the agency’s Career Center network.
The Career Center serves Houston, Crawford, Peach, and Pulaski counties and has a long-established presence at this location within the Warner Robins market. The property’s role as an administrative facility supports ongoing community employment and workforce services.
For buyers, the property is being offered with a lease extending through 2041, providing long-term tenancy by a government organization. This structure may appeal to investors seeking reduced leasing rollover risk tied to durable occupancy, or to organizations looking for a centrally located administrative-type office facility aligned with government workforce services.
The Career Center serves Houston, Crawford, Peach, and Pulaski counties and has a long-established presence at this location within the Warner Robins market. The property’s role as an administrative facility supports ongoing community employment and workforce services.
For buyers, the property is being offered with a lease extending through 2041, providing long-term tenancy by a government organization. This structure may appeal to investors seeking reduced leasing rollover risk tied to durable occupancy, or to organizations looking for a centrally located administrative-type office facility aligned with government workforce services.
Key Highlights
- Year built 1999 single‑tenant government office anchored by the Georgia Department of Labor Career Center
- Lease extends through 2041 for long‑term tenancy and predictable income
- Mission‑critical workforce and career services facility serving job seekers and employers via the Georgia Department of Labor network
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
$130,890
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
3.01%
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%
$2,617,800
$2.6M
Cap Rate 7%
$1,869,857
$1.9M
Cap Rate 9%
$1,454,333
$1.5M
Market Conditions
NOI Build-Up for 12,490 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
$212.8K $17.04/SF
− Vacancy
−$38.3K −$3.07/SF
EGI
$174.5K $13.97/SF
− OpEx
−$43.6K −$3.49/SF
NOI
$130.9K $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%
$2,617,800
Cap Rate 7%
$1,869,857
Cap Rate 9%
$1,454,333
Alternative Uses
Best Use
Office B
$1.87M
$1.64M – $2.18M
NOI $130,890 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $188,705 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
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?
Office building - Single-tenant government office anchored by Georgia Department of Labor Career Center with lease through 2041.
Where is this office building located?
The property is located at 96 Cohen Walker Dr Warner Robins, GA.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: Year built 1999 single‑tenant government office anchored by the Georgia Department of Labor Career Center; Lease extends through 2041 for long‑term tenancy and predictable income; Mission‑critical workforce and career services facility serving job seekers and employers via the Georgia Department of Labor network
