Redevelopment Land with Residential
For Sale
Under Contract
$210,000
1515 Danielsville Road, Athens, GA 30601
Commercial Sale, Athens, GA
Property Size1,116 SF
Lot Size0.57 Acres
Price / SF$188.17
Days on Market213
Property Features for 1515 Danielsville Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Fencing
Fenced, Chain Link
Lot features
City Lot, Level
Directions
From Athens, take North Ave. to Danielsville Rd. Property will be on the corner of Danielsville Rd & Turner Cir. on your left.
Standard status
Active Under Contract
APN
154C4 A021
Size
1,116 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
1563
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1965
Building materials
Frame
Roof type
Composition
Additional Structures
Workshop
Listing Agency:
Virtual Properties Realty.com
(770) 495-5050
Listed By:
Tina Mccullough · License #379566
(706) 248-1227
Added: Jan 23
Changed: Aug 19
Last Checked: Aug 24 at 5:06PM
MLS# 10678532
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.
1515 Danielsville Road is a 0.57-acre commercial land parcel in Athens, Georgia, currently improved with an existing 2-bedroom, 1-bath home. The property presents a redevelopment or repositioning path, including options to renovate the home for continued residential use, convert it to professional or service-based office space, or remove it to support a new development concept.
The site is located along an established corridor near downtown Athens, with proximity to the University of Georgia. The listing notes strong road frontage and visibility, creating a practical advantage for uses that benefit from everyday drive-by access.
Zoned C-G, the property is described as allowing a wide range of permitted uses. Permitted uses listed include personal care homes, multi-family dwellings, home occupations, bed and breakfast, short-term rentals, convenience stores, vehicle repair, broadcasting or production studios, churches, daycare facilities, nursing homes, and vehicle repair. Additional uses may be possible with a special use variance, which can broaden planning flexibility for owner-users, investors, or developers evaluating a wide set of potential operating strategies. The existing improvements and zoning breadth together support a range of redevelopment and conversion scenarios.
The site is located along an established corridor near downtown Athens, with proximity to the University of Georgia. The listing notes strong road frontage and visibility, creating a practical advantage for uses that benefit from everyday drive-by access.
Zoned C-G, the property is described as allowing a wide range of permitted uses. Permitted uses listed include personal care homes, multi-family dwellings, home occupations, bed and breakfast, short-term rentals, convenience stores, vehicle repair, broadcasting or production studios, churches, daycare facilities, nursing homes, and vehicle repair. Additional uses may be possible with a special use variance, which can broaden planning flexibility for owner-users, investors, or developers evaluating a wide set of potential operating strategies. The existing improvements and zoning breadth together support a range of redevelopment and conversion scenarios.
Key Highlights
- Year built 1965 frame construction with central heating and central air (electric)
- Existing 2‑bedroom, 1‑bath home on the property
- C‑G zoning with a broad list of permitted uses, including multi‑family dwellings, daycare facilities, convenience stores, and churches
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
$12,489
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
5.95%
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%
$249,780
$249.8K
Cap Rate 7%
$178,414
$178.4K
Cap Rate 9%
$138,767
$138.8K
Market Conditions
NOI Build-Up for 1,116 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
$24.1K $21.60/SF
− Vacancy
−$1.4K −$1.25/SF
EGI
$22.7K $20.35/SF
− OpEx
−$10.2K −$9.16/SF
NOI
$12.5K $11.19/SF
Area
Athens, GA
Vacancy
5.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
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%
$249,780
Cap Rate 7%
$178,414
Cap Rate 9%
$138,767
Alternative Uses
Best Use
Apartment 5plus
$178.4K
$156.1K – $208.2K
NOI $12,489 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$269.0K
$235.4K – $313.9K
NOI $18,832 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 30601, GA
25,036
Population
11,634
Households
2.2
Avg Household Size
28
Median Age
37%
College-Educated
84%
High-School Grad
23.4 sq mi
ZIP Area
1,070
Density / Sq Mi
$37,357
Median Household Income
$24,639
Median Earnings
$1,198
Median Rent
$213,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Flexible C-G zoned site with strong road frontage and an existing 2-bedroom home for renovation or redevelopment.
Where is this commercial land located?
The property is located at 1515 Danielsville Road Athens, GA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Year built 1965 frame construction with central heating and central air (electric); Existing 2‑bedroom, 1‑bath home on the property; C‑G zoning with a broad list of permitted uses, including multi‑family dwellings, daycare facilities, convenience stores, and churches
