Athens GA Commercial Real Estate Market Report - 6-24-2008

 Graphics representing real estate market - Success Realty of Athens helps you understand the truly local picture!Sometimes it difficult to get an accurate picture of the commercial real estate market in Athens, GA.  It takes combing through local newspaper listings, Loopnet.com, the Athens Multiple Listing Service and other sources to get an real overview of what is going on in the commercial real estate arena.  

Why?  because many of the mature brokers in the Athens area don't list everything available on the Local MLS, but I am seeing more activity there.  Today I got a heads up on Commercial Source, a newer offering from the National Association of REALTORS® , "created to serve as a comprehensive website for all things pertaining commercial real estate" so I thought I would take a look.  Currently there appears to only be 105 listings in Georgia, but I am sure that will increase with time and exposure, so I am begging fellow Athens real estate brokers to embrace this new tool!

Currently on Athens MLS there are:
  • 172 Commercial and Industrial Properties For Sale
  • 18 Commercial Properties For Lease
Year to Date 2008 there have been 19 commercial properties sold, per Athens MLS, ranging in price from $29,000 (vacant lot) to $711,100 (a brick home near Five Points that had been converted to office space).

During the same time period in 2007, there were 14 commercial properties sold, per Athens MLS, ranging in price from $45,000 to $695,000.

Photo representing Office Space for rent in Athens, GAThis is a little like comparing oranges to apples, but does give an overview of the market conditions in Athens.  My personal observation is that there is a healthy supply of office and retail available in many areas (bordering on an oversupply of office rentals in older buildings and less traveled corridors), but industrial and smaller warehouse space is in tight demand at this time.  

Use our IDX to search for Commercial Real Estate in the Athens, GA metro area (just make sure you have "commercial" in the first drop box) and feel free to give me at call at 706-207-2502 if you prefer to have someone sort through the variety of sources of commercial information available!  If you are looking for the residential real estate market report, don't worry -  will be here next week.

Michelle DeRepentigny, Broker - Success Realty Athens, GA - your local real estate expert

Posted by Michelle DeRepentigny at 6/24/2008 5:09 PM
Categories: Real Estate Market Reports, Commercial Real Estate Info
 

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