Turn-Key Restaurant in Historic
102 N Hill Street Griffin, GA 30223
102 N Hill Street, Griffin, GA, 30223
$470,000
For Sale
$470,000
COMMERCIAL - Griffin, GA
Property Size1,150 SF
Price / SF$408.70
Days on Market147
Property Features for 102 N Hill Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- APN
- 013 34010A
- Size
- 1,150 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 2876
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1894
- Building materials
- Brick, Concrete
Listing agency
Rawlings Realty LLC
(678) 692-8639
Listed by
Gary W Laster · License #44376
(770) 468-1332
Added: Feb 25 Updated: Jun 4 at 12:15PM Checked: Jul 22 at 8:06PM
MLS# 10699765
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale opportunity includes an operating turn-key restaurant business and the real estate at 102 N Hill Street. The current concept serves Greek and Italian food and has been in operation for over 20 years. The offering is described as fully equipped and includes the building, land, business, equipment, inventory, and additional items needed to continue operations. Interior features include custom painted murals, contributing to a distinctive dining environment. The property is noted as being built in 1894 and is described as part of the Griffin Opera House condominiums HOA, with the HOA structure referenced in the remarks.
The property is located in the center of the historic district, with convenient access to downtown and the Spalding County courthouse.
For buyers looking for an established restaurant operation, this is positioned as a complete transition package, with the owner willing to train and remain on-site for the transition period. Access to business financials and P&L statements requires proof of funds prior to viewing.
The property is located in the center of the historic district, with convenient access to downtown and the Spalding County courthouse.
For buyers looking for an established restaurant operation, this is positioned as a complete transition package, with the owner willing to train and remain on-site for the transition period. Access to business financials and P&L statements requires proof of funds prior to viewing.
Key Highlights
- Angel’s Mediterranean Restaurant currently operating for over 20 years; owner retiring and willing to train for the transition
- Cozy 1,150 SF operation including building, land, business, equipment, and inventory
- Built in 1894; part of Griffin Opera House Condominiums HOA
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.5k | $23.04 |
| − Vacancy | −$1.9k | −$1.61 |
| EGI | $24.6k | $21.43 |
| − OpEx | −$6.2k | −$5.36 |
| NOI | $18.5k | $16.07 |
1,150 SF · lease $23.04/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$264.0K
$231.0K – $308.0K
NOI $18,481 @ 7.0% cap · market cap 3.93%
Second Best
Retail
$231.1K
$202.2K – $269.6K
NOI $16,175 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$322.9K
$282.6K – $376.7K
NOI $22,604 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
FormSmith
Big Box & Wholesale Store
ChiroWise
Alternative Medicine Practice
The Griffin Opera House
Theater & Performing Art Venue
Angelos Mediterranean Restaurant
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Turn key restaurant - Operating Greek/Italian restaurant with turn-key setup, including equipment and inventory, in the historic district.
Where is this turn key restaurant located?
The property is located at 102 N Hill Street Griffin, GA.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Angel’s Mediterranean Restaurant currently operating for over 20 years; owner retiring and willing to train for the transition; Cozy 1,150 SF operation including building, land, business, equipment, and inventory; Built in 1894; part of Griffin Opera House Condominiums HOA
