Multi-Suite Office
For Sale
$349,900
A-c-2108 Elberta Road, Warner Robins, GA 31093
Three independently configured suites offer private restrooms, separate HVAC, and adaptable commercial occupancy.
Property Size3,024 SF
Price / SF$115.71
Days on Market13
Property Features for A-c-2108 Elberta Road
General Information
Standard status
Active
Size
3,024 SF
Additional Details
Gross Income
$36,000
Road Access
Yes
Office Units
3
Taxes and HOA fees
Annual Taxes
$2,010
Amenities
private enclosed courtyard/outdoor area
kitchenette
Building Details
Tenancy
Multi
Listing Agency:
Kelly Wood Realty
(478) 361-9360
Listed By:
Tiffany Smith · License #437364
(478) 714-1559
Source:
Exprealty
Added: Sep 15
Changed: Sep 25
Last Checked: Sep 26 at 7:52AM
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 Kelly Wood Realty
Investment Insights
Based on property information with market context.
This approximately 3,024-square-foot office building is divided into three separate suites, with two currently occupied under leases extending through July 2027. Each suite has a private restroom and its own HVAC unit. Suite B includes a kitchenette, while Suite C connects to a private enclosed courtyard with stone paving, landscaping, lighting, seating, and space for outdoor gatherings. The building has a metal roof and three individual HVAC units approximately 7 years old.
The property fronts Elberta Road with approximately 8,780 vehicles per day and provides access to Watson Boulevard and the surrounding Warner Robins commercial area. Parking is positioned along the left side of the building, and the rear area provides additional outdoor space that may accommodate expanded parking, storage, or an outdoor amenity, subject to zoning, site requirements, and approvals. Tenant property-tax reimbursements are part of the existing lease arrangements.
The property fronts Elberta Road with approximately 8,780 vehicles per day and provides access to Watson Boulevard and the surrounding Warner Robins commercial area. Parking is positioned along the left side of the building, and the rear area provides additional outdoor space that may accommodate expanded parking, storage, or an outdoor amenity, subject to zoning, site requirements, and approvals. Tenant property-tax reimbursements are part of the existing lease arrangements.
Key Highlights
- Approximately 3,024 square feet configured as 3 separate office suites
- Leases in place through July 2027 with 2 current tenants
- Each suite includes a private restroom and individual HVAC unit
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
$31,690
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
9.06%
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%
$633,800
$633.8K
Cap Rate 7%
$452,714
$452.7K
Cap Rate 9%
$352,111
$352.1K
Market Conditions
NOI Build-Up for 3,024 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
$51.5K $17.04/SF
− Vacancy
−$9.3K −$3.07/SF
EGI
$42.3K $13.97/SF
− OpEx
−$10.6K −$3.49/SF
NOI
$31.7K $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%
$633,800
Cap Rate 7%
$452,714
Cap Rate 9%
$352,111
Alternative Uses
Best Use
Office B
$452.7K
$396.1K – $528.2K
NOI $31,690 @ 7.0% cap · market cap 9.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$652.7K
$571.1K – $761.5K
NOI $45,688 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 31093, GA
28,614
Population
13,275
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
87%
High-School Grad
20.4 sq mi
ZIP Area
1,403
Density / Sq Mi
$48,186
Median Household Income
$32,542
Median Earnings
$966
Median Rent
$137,900
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 - Three independently configured suites offer private restrooms, separate HVAC, and adaptable commercial occupancy.
Where is this office building located?
The property is located at A-c-2108 Elberta Road Warner Robins, GA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Approximately 3,024 square feet configured as 3 separate office suites; Leases in place through July 2027 with 2 current tenants; Each suite includes a private restroom and individual HVAC unit
