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    Freestanding Restaurant Building Title is generated by Realmo AI

    115 Elm Street, Lincolnton, GA 30817

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    For Sale
    $325,000

    COMMERCIAL - Lincolnton, GA

    Property size:
    1,952 SF
    Lot size:
    0.52 Acres
    Price / SF:
    $166/SF
    Added:
    Jun 4, 2025
    Days on Market:
    369
    Last Refresh:
    Jun 7 at 1:06 am

    Property Features for 115 Elm Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    c-1
    Standard status
    Active
    APN
    L05213
    Size
    1,952 SF
    Lot size
    0.52 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    316; 208

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1995

    We can help!

    Listing Contact
    Sandy J. Butler
    Sandy J. Butler

    Listing agent Sandy J. Butler License #341065

    Listing office DeFoor Realty 6430 Ridge Road, Appling, GA

    Listing date Jun 4, 2025

    MLS# 98227425

    Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Freestanding commercial building built in 1995 at the intersection of Hwy 47 and Hwy 378 in Lincolnton, GA
    • Former Huddle House; seating for approximately 45 guests
    • 30 designated on‑site parking spaces, plus 3‑sided dumpster location and out‑of‑view grease dump location
    • Inground grease traps; upgraded HVAC (1 new roof HVAC) and updated plumbing fixtures, faucets, and refreshed bathrooms
    • Modern improvements include Low E windows, new insulated glass on the 378 side, and a new tankless water heater
    • Large roadside signage with 50+/- sign and marquee

    Overview

    This freestanding restaurant building is approximately 1,952 square feet and was formerly operated as a Huddle House. The interior has been updated with modern Low E windows, refreshed bathrooms, and upgraded plumbing fixtures. Improvements also include a new tankless water heater, inground grease traps, a new roof HVAC unit, and additional insulated glass on the 378 side. The space is set up for restaurant service with seating for approximately 45 guests, and it includes a three-sided dumpster location with an out-of-view grease dump location.

    The property is positioned at the crossroads of Hwy 47 and Hwy 378 in Lincolnton, Georgia. It includes 30 designated on-site parking spaces and features a large roadside sign with a marquee. The seller notes the site supports year-round traffic tied to lake travel toward Lake Thurmond/Clarks Hill Lake.

    With C-1 zoning, this building can fit a variety of commercial concepts, including restaurant, café, retail, or professional office use. The combination of updated building systems, established on-site parking, and restaurant-ready infrastructure like grease traps and seating makes it practical for operators seeking a turn-key start in a high-visibility corner location.

    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 $32.3k $16.56
    − Vacancy −$1.7k −$0.89
    EGI $30.6k $15.67
    − OpEx −$7.6k −$3.92
    NOI $22.9k $11.75
    1,952 SF · lease $16.56/SF/yr · vacancy 5.40% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $327.6K
    $286.7K – $382.3K (±1% cap)
    NOI $22,935 @ 7.0% cap · market cap 7.06%
    Second Best
    Retail
    $310.6K
    $271.8K – $362.4K (±1% cap)
    NOI $21,745 @ 7.0% cap · market cap 6.69%
    Theoretical Best
    Office A
    $616.1K
    $539.1K – $718.8K (±1% cap)
    NOI $43,129 @ 7.0% cap · market cap 13.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Papa's Old South ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lincolnton
    County
    Lincoln
    State
    Georgia
    Longitude
    -82.479664
    Latitude
    33.789449

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    FAQs

    What type of property is this?
    Conventional restaurant - Turnkey freestanding restaurant building with updated systems, parking for 30, and seating for about 45.
    Where is this conventional restaurant located?
    The property is located at 115 Elm Street Lincolnton, GA.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Freestanding commercial building built in 1995 at the intersection of Hwy 47 and Hwy 378 in Lincolnton, GA; Former Huddle House; seating for approximately 45 guests; 30 designated on‑site parking spaces, plus 3‑sided dumpster location and out‑of‑view grease dump location
    (706) 833-5313
    We can help!
    Listing Contact
    Sandy J. Butler
    Sandy J. Butler
    Real Estate License ID: 341065
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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.

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