Automotive Property with Car
For Sale
$449,000
1222 & 1224 New Franklin Road, Lagrange, GA 30240
Commercial Sale, Lagrange, GA
Property Size3,424 SF
Lot Size2.20 Acres
Price / SF$131.13
Days on Market125
Property Features for 1222 & 1224 New Franklin Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
Corner Lot
Directions
Head toward E Lafayette Sq on Main St, Turn right onto Lafayette Pkwy (US-29), Turn left onto Morgan St (US-27/US-29).
Standard status
Active
APN
0493B000098A
Size
3,424 SF
Lot size
2.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2615
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Natural Gas
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1940
Flooring type
Concrete, Hardwood
Building materials
Block, Brick
Roof type
Metal, Composition
Listing Agency:
RE/MAX Results · RE/MAX International
(706) 845-7000
Listed By:
Joel Upchurch · License #203316
(706) 523-1702
Added: May 1
Changed: Sep 2
Last Checked: Sep 2 at 11:06PM
MLS# 10755685
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 automotive property comprises a 2.2-acre site with two existing buildings totaling 3,424 square feet. The improvements include a 1,984-square-foot single-family residence and a 1,440-square-foot masonry block commercial building currently operated as a car lot. Construction includes block and brick, with hardwood and concrete flooring, natural-gas heat, electric central air, metal and composition roofing, and a parking lot.
The property fronts New Franklin Road, where reported traffic exceeds 11,000 vehicles per day; N. Davis carries more than 6,500 vehicles per day. Walmart is 0.8 miles away, ALDI is 1.3 miles away, and Franklin Forest Elementary School is 0.4 miles away. Public water and septic service are in place, with cable available. The buildings date to 1940 and provide an established base for continued automotive use or a revised commercial configuration.
The property fronts New Franklin Road, where reported traffic exceeds 11,000 vehicles per day; N. Davis carries more than 6,500 vehicles per day. Walmart is 0.8 miles away, ALDI is 1.3 miles away, and Franklin Forest Elementary School is 0.4 miles away. Public water and septic service are in place, with cable available. The buildings date to 1940 and provide an established base for continued automotive use or a revised commercial configuration.
Key Highlights
- 2.2‑acre commercial site with 3,424 square feet across two buildings
- 1,440‑square‑foot masonry block building currently used as a car lot
- 1,984‑square‑foot single‑family residence included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,275
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$305,500
$305.5K
Cap Rate 7%
$218,214
$218.2K
Cap Rate 9%
$169,722
$169.7K
Market Conditions
NOI Build-Up for 3,424 SF
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.
Gross rent
$23.5K $6.86/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$21.8K $6.37/SF
− OpEx
−$6.5K −$1.91/SF
NOI
$15.3K $4.46/SF
Area
Troup County, GA
Vacancy
7.10%
Lease Rate
$6.86 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$305,500
Cap Rate 7%
$218,214
Cap Rate 9%
$169,722
Alternative Uses
Best Use
Retail
$595.8K
$521.3K – $695.1K
NOI $41,707 @ 7.0% cap · market cap 9.29%
Second Best
Industrial
$218.2K
$190.9K – $254.6K
NOI $15,275 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$766.1K
$670.4K – $893.8K
NOI $53,629 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
8k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
7,629 visits/mo
0.4 miles
Demographics for 30240, GA
30,119
Population
12,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
139.6 sq mi
ZIP Area
216
Density / Sq Mi
$59,521
Median Household Income
$40,611
Median Earnings
$1,035
Median Rent
$221,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Automotive property - Two-building commercial site with a residence, masonry structure, paved parking, and public water service.
Where is this automotive property located?
The property is located at 1222 & 1224 New Franklin Road Lagrange, GA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2.2‑acre commercial site with 3,424 square feet across two buildings; 1,440‑square‑foot masonry block building currently used as a car lot; 1,984‑square‑foot single‑family residence included
