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    Industrial Project in Athens, GA Title is generated by Realmo AI

    161 Fritz Mar Lane, Athens, GA 30607

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    For Sale
    $650,000

    COMMERCIAL - Athens, GA

    Property size:
    7,200 SF
    Lot size:
    3.19 Acres
    Price / SF:
    $90/SF
    Added:
    Apr 10, 2025
    Days on Market:
    422
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 161 Fritz Mar Lane

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Parking
    11
    Standard status
    Active
    APN
    112 020
    Size
    7,200 SF
    Lot size
    3.19 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    877

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    2025

    We can help!

    Listing Contact
    A.J. Purcell

    Listing agent A.J. Purcell License #394288

    Listing office Keller Williams Greater Athens 1361 Jennings Mill Rd,#101, Watkinsville, GA

    Listing date Apr 10, 2025

    MLS# CM1024930

    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

    • Turn‑key pad ready for a 7200 sq ft building (Building 100), permit‑ready with minimal prep needed for slab setup, allowing for quick construction.
    • Zoned "I" in the ACC TAD district, suitable for industrial use and potentially offering tax advantages.
    • Ready for 3‑phase 120/208 power with options for 2QTY 200 amp service or 1QTY 600 amp service, catering to significant power needs.
    • Infrastructure in place: ATT fiber internet, 3/4" water meter, and sewer service are available.
    • Parking lots and roads are already developed, reducing initial development costs and time.
    • Opportunity to have a new building completed by the end of 2025, with other buildings in the development already under construction.

    Overview

    Located in Athens Clarke County, 161 Fritz Mar is a new industrial project zoned "I" in the ACC TAD district. The project includes five 4000 sq ft buildings and one 7200 sq ft building divided into two units. Pads and shell buildings are available for sale, with build-to-suit and lease options also offered. This listing is for a turn-key pad for the 7200 sq ft building (building 100 in the site plan). The pad is permit-ready, requiring minimal preparation for slab setup. Georgia Power is ready for 3-phase 120/208 power, with 2QTY 200 amp service or 1QTY 600 amp service available for building 100 only. ATT fiber internet, 1QTY ACC water 3/4" meter and sewer service are available (county fees paid, additional meters/taps available at buyer's cost). The seller has covered the development of parking lots and roads, offering the opportunity to buy a build-ready site with potential for a new building by the end of 2025. Buildings 200, 300, and 600 are currently under construction. The property has a lot size of 3.19 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Restaurant Real Estate Agency Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Hotel & Motel Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    Clarke
    State
    Georgia
    Longitude
    -83.399694
    Latitude
    33.983922

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    FAQs

    What type of property is this?
    Specialty property - New industrial project with build-ready pads available for sale.
    Where is this specialty property located?
    The property is located at 161 Fritz Mar Lane Athens, GA.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Turn‑key pad ready for a 7200 sq ft building (Building 100), permit‑ready with minimal prep needed for slab setup, allowing for quick construction.; Zoned "I" in the ACC TAD district, suitable for industrial use and potentially offering tax advantages.; Ready for 3‑phase 120/208 power with options for 2QTY 200 amp service or 1QTY 600 amp service, catering to significant power needs.
    (706) 255-4161
    We can help!
    Listing Contact
    A.J. Purcell
    Real Estate License ID: 394288
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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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