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    For Sale (18)

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    Commercial Land on Salem Road
    $1,100,000
    3.57 Acres

    Commercial Land on Salem Road

    3.6 acres of commercial land with high traffic count.

    3997 Salem Rd, Covington, GA 30016
    View details
    Locust Grove Commercial Redevelopment Opportunity
    $499,000
    3.95 Acres

    Locust Grove Commercial Redevelopment Opportunity

    3.95-acre commercial lot with redevelopment potential in Locust Grove.

    1537 Jackson St, Locust Grove, GA 30248
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    Elberton Land Near Clarks Hill
    $65,000
    4.54 Acres

    Elberton Land Near Clarks Hill

    4.54 acres near boat ramps and Beaverdam Marina.

    2012 Lakeside Dr Lot 47 / Beaverdam, Elberton, GA 30635
    View details
    Oxford, GA Buildable Lot
    $79,900
    0.76 Acres

    Oxford, GA Buildable Lot

    Partially wooded lot in historic Oxford, Georgia.

    405 W Richardson St, Oxford, GA 30054
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    Covington Commercial Land For Sale
    $795,000
    17.39 Acres

    Covington Commercial Land For Sale

    17.39 acre commercial land in Covington, Georgia.

    2601 Access Rd, Covington, GA 30016
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    Morrow Mixed-Use Commercial Property
    $250,000
    1,400 SF

    Morrow Mixed-Use Commercial Property

    Versatile commercial property suitable for various businesses in Morrow, GA.

    5372 Bryant Blvd, Morrow, GA 30260
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    6 Acres with Lake Access
    $169,900
    6.00 Acres

    6 Acres with Lake Access

    6 acres in Mansfield, GA with Jackson Lake access.

    49 50, Mansfield, GA 30055
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    Cleared Land in Monticello, GA
    $95,000
    6.60 Acres

    Cleared Land in Monticello, GA

    6.6 acres of cleared land, ideal for various uses.

    Aikenton Rd, Monticello, GA 31064
    View details
    36 Acres with Creek Frontage
    $375,000
    36.03 Acres

    36 Acres with Creek Frontage

    36-acre land parcel with creek, barn, and development potential.

    460 Pullin Rd, Locust Grove, GA 30248
    View details
    Land in Conyers, Georgia
    $39,900
    1.00 Acre

    Land in Conyers, Georgia

    Undeveloped lot near I-20, parks, shopping, and dining.

    1804 Wiggins Cir SW, Conyers, GA 30094
    View details
    Residential Lot in Turtle Cove
    Contact for pricing
    0.45 Acres

    Residential Lot in Turtle Cove

    Wooded lot with lake access and community amenities.

    Cardinal Dr, Monticello, GA 31064
    View details
    Successful Marina on Jackson Lake
    $4,300,000
    6,833 SF

    Successful Marina on Jackson Lake

    Marina with restaurant, hotel, RV slips, and boat storage.

    8726 Jackson Lake Rd, Monticello, GA 31064
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    Land in Turtle Cove
    Contact for pricing
    0.59 Acres

    Land in Turtle Cove

    Land with access to lake and community amenities in Monticello.

    Nighthawk Ct, Monticello, GA 31064
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    Residential Land in Turtle Cove
    Contact for pricing
    0.41 Acres

    Residential Land in Turtle Cove

    Residential land with amenities in Turtle Cove community, Monticello, GA.

    Thrusher Ct, Monticello, GA 31064
    View details
    Commercial Land in High-Traffic Area
    $249,900
    0.84 Acres

    Commercial Land in High-Traffic Area

    Commercial land with high traffic and road frontage.

    4009 Salem Rd, Covington, GA 30016
    View details
    Commercial Land on Salem Road
    $1,100,000

    Commercial Land on Salem Road

    3.6 acres of commercial land with high traffic count.

    3997 Salem Rd, Covington, GA 30016
    View details
    Covington Farmhouse on Picturesque Acres
    $484,000
    2,740 SF

    Covington Farmhouse on Picturesque Acres

    Farmhouse on 5 acres with barn, pastures, and creek.

    11725 Hazelbrand Rd NE, Covington, GA 30014
    View details
    Land in Almon Overlay District
    $795,000

    Land in Almon Overlay District

    Commercial land suitable for mixed-use development in Covington, Georgia.

    2601 Access Rd, Covington, GA 30016
    View details

    For Lease (1)

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    Versatile Commercial Space in Covington
    $2,500 / Mo
    3,000 SF

    Versatile Commercial Space in Covington

    Adaptable commercial building suitable for various business needs.

    3143 NE Mill St, Covington, GA 30014
    View details

    Leases and Sales on Map

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    American Realty Professionals of Georgia
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    American Realty Professionals of Georgia
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