Athens Retail Market Update: What the Numbers Tell Us About 2026

January 2026

If you’re considering leasing retail space, selling a retail property, or investing in Athens commercial real estate, understanding the current market is essential. We’ve analyzed the latest data, and here’s what’s happening in Athens retail right now.

The Big Picture: An Active Market

Over the past year, 55 retail properties changed hands in Athens, totaling $48.1 million in sales. That represents roughly 400,000 square feet of retail space—a solid indicator that the Athens market remains active despite broader economic uncertainty.

To put that in perspective, Athens averages about 120,000 square feet of retail inventory turnover per year over the past five years. We’re currently tracking well above that average, which tells us demand is strong.

Athens vs. National Pricing

One of the most significant takeaways: Athens retail is competitively priced compared to national markets.

Athens average retail pricing: $193 per square foot
National average: $249 per square foot

That’s a meaningful difference. Athens offers better value for businesses looking to establish or expand their retail presence, and it creates opportunities for investors seeking stable returns without the premium pricing of larger metros.

Cap Rates Holding Steady

The estimated market cap rate for Athens retail is 7.5%, compared to the national average of 7.3%. This tells us:

Returns are competitive
The market is stable
Investors see Athens as a reliable, lower-risk market

For property owners considering a sale, steady cap rates mean consistent valuations. For buyers, it means predictable returns.

What’s Selling? Service-Based and Neighborhood Retail

The strongest activity is concentrated in two areas:

Service-based businesses: Think salons, fitness centers, healthcare services, and professional offices in retail formats
Neighborhood shopping centers: Grocery-anchored and convenience-focused centers serving local communities

This makes sense. Even as e-commerce continues to grow, consumers still need convenient access to services and essentials. Athens retail that serves daily needs is performing well.

Recent Major Transactions

Here are a few notable sales from the past year:

CVS, Watkinsville: $5.8M (5.0% cap rate)
Dollar Tree, Athens: $2.8M (7.5% cap rate)
115 E Broad Street, Athens: $2.7M (100% occupied)
283 E Clayton Street: $3.3M (100% occupied)

These transactions show consistent investor interest across different retail formats—from single-tenant net-lease properties to multi-tenant downtown buildings.

Outside Interest in Athens

National buyers accounted for 76% of sales volume over the past year. That’s significant. It means investors outside Athens recognize the value and stability of our market.

Why are they investing here?

UGA’s stabilizing influence on the local economy
Population growth in Northeast Georgia
Competitive pricing compared to metro Atlanta and other Southeast markets
Steady demand from both businesses and consumers

What This Means for You

If you’re looking to lease retail space: Athens offers competitive rates, and there’s good inventory available across different formats. Whether you need a small storefront or a larger anchor space, now is a solid time to explore options.

If you’re considering selling: The market is active, cap rates are stable, and there’s demonstrated buyer interest—including from outside the region. Properties that are well-located and well-maintained are moving.

If you’re an investor: Athens retail offers value relative to national pricing, stable returns, and a track record of consistent performance. Service-based and neighborhood-focused properties are your best bets.

Retail real estate continues to evolve, but one thing remains constant: businesses need physical space to serve customers, and consumers need convenient access to services and goods.

Athens benefits from a stable local economy, a major university, and growing population in surrounding counties. These fundamentals support a healthy retail market, even as national trends shift.

If you have questions about the Athens retail market or want to discuss specific opportunities, we’d welcome the conversation.

Looking to lease retail space in Athens? Understanding lease structures like NNN is important. Click here to read our guide to Triple Net Leases.

Contact NAI Elrod Group:

Brian Elrod, CCIM
678-859-6110
brian@naielrod.com
www.naielrod.com

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## Related Commercial Real Estate Resources:

Want to learn more about Athens commercial real estate?

– Understanding NNN Leases – Common lease structure you’ll see in retail properties
– Commercial Real Estate Terms #2: Revving It Up with Retail – Understanding different retail property types
– Self-Storage Market Update – Another commercial real estate sector analysis

**Looking for retail space in Athens?**

Athens Retail Market Update: What the Numbers Tell Us About 2026