Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    1212 Sommerset Drive Lawrenceville, GA 30043

    View on Map
    Claim this Listing
    Picture of Land at 1212 Sommerset Drive, Lawrenceville, GA
    For Sale
    $120,000

    LAND - Lawrenceville, GA

    Lot size:
    0.78 Acres
    Added:
    Mar 4, 2025
    Days on Market:
    428
    Last Refresh:
    May 6 at 8:06 pm

    Property Features for 1212 Sommerset Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Partially Wooded
    Standard status
    Active
    APN
    R7092 028
    Lot size
    0.78 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    214

    Utilities

    Utilities
    Water Available
    Water source
    Public

    We can help!

    Listing Contact
    Syed Firoz
    Syed Firoz

    Listing agent Syed Firoz License #419636

    Listing office Virtual Properties Realty.com 2750 Premiere Pkwy, Ste. 200, Duluth, GA

    Listing date Mar 4, 2025

    MLS# 10470626 Listing URL

    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.

    HighLights

    • Residential development opportunity in Gwinnett County
    • Excellent school district
    • Convenient location near shopping, dining, and I‑85
    • Easy connection to water, gas, and electric
    • Water available
    • Public water source

    Overview

    Residential Land in Gwinnett County

    This residential land offers a development opportunity in Gwinnett County. The 0.78-acre property is located in Lawrenceville, GA, and benefits from proximity to shopping, dining, and Highway 85. The site has easy connection to water, gas, and electric. The property is located within an excellent school district.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lawrenceville
    County
    Gwinnett
    State
    Georgia
    Longitude
    -83.9754083
    Latitude
    34.0227012

    Nearby Similar for Sale

    • $350,000
      4,400 SF

      Lawrenceville Retail Redevelopment Opportunity

      4,400 SF retail building on 0.8 acres in Lawrenceville.
      425 W Pike St, Lawrenceville, GA 30046
      View Details
    • $1,800,000
      6,800 SF

      Modern Industrial Flex Space

      Office/warehouse flex space with modern design and convenient location.
      403 Swanson Drive, Lawrenceville, GA 30043
      View Details
    • $816,725
      3,808 SF

      Lawrenceville Office Building For Sale

      Prime commercial property near downtown Lawrenceville with high visibility.
      5 Hurricane Shoals Road NE, Lawrenceville, GA 30046
      View Details
    • $595,000
      2,086 SF

      Prime Commercial Property, Lawrenceville GA

      Versatile commercial property with dual road frontage in high-traffic area.
      578 Braselton Highway NE, Lawrenceville, GA 30043
      View Details
    • $595,000
      2,086 SF

      Lawrenceville Commercial Property For Sale

      Prime commercial property in a busy area, suitable for various businesses.
      578 Braselton Highway NE, Lawrenceville, GA 30043
      View Details
    • $384,000
      2,868 SF

      Charming Farmhouse Style Home

      Well-maintained home in Lawrenceville with new flooring and fresh paint.
      431 Thornbush Trace, Lawrenceville, GA 30046
      View Details
    • $524,900
      2,097 SF

      Lawrenceville Commercial Building on Scenic Highway

      Remodeled commercial building with high visibility and ample parking.
      521 Scenic Highway, Lawrenceville, GA 30046
      View Details
    • $524,900
      2,097 SF

      Lawrenceville Commercial Building on Scenic Highway

      Remodeled commercial building with high visibility and ample parking.
      521 Scenic Highway, Lawrenceville, GA 30046
      View Details
    • $519,000

      Turnkey Duplex in Lawrenceville, GA

      Rare, renovated duplex with immediate cash flow and verified rental history.
      1916 Patterson Circle, Lawrenceville, GA 30044
      View Details
    • $1,650,000
      11,340 SF

      Lawrenceville Commercial Space For Sale

      Prime commercial space in downtown Lawrenceville with parking.
      139 New Hope Road, Lawrenceville, GA 30046
      View Details
    • $500,000

      Income-Producing Multifamily Property

      Income-producing multifamily property near Hwy 316 and downtown Lawrenceville, GA.
      501 Timber Ridge Court, Lawrenceville, GA 30046
      View Details
    • $500,000

      Income-Producing Multifamily Property

      Income-producing multifamily property near Hwy 316 and downtown Lawrenceville.
      501 Timber Ridge Court, Lawrenceville, GA 30046
      View Details

    FAQs

    What type of property is this?
    Land - Residential development opportunity in a sought-after Gwinnett County location.
    Where is this land located?
    The property is located at 1212 Sommerset Drive Lawrenceville, GA.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: Residential development opportunity in Gwinnett County; Excellent school district; Convenient location near shopping, dining, and I‑85
    (470) 269-0420
    We can help!
    Listing Contact
    Syed Firoz
    Syed Firoz
    Real Estate License ID: 419636
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1212 Sommerset Drive, Lawrenceville, GA 30043
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!