Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1791 Walnut Avenue Covington, GA 30014

    View on Map
    Claim this Listing
    New
    For Sale
    $745,000

    LAND - Covington, GA

    Type:Single Family Residence
    Property size:
    1,700 SF
    Lot size:
    5.67 Acres
    Added:
    Apr 18, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 19 at 8:06 am

    Property Features for 1791 Walnut Avenue

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    C-1
    Standard status
    Active
    APN
    WG01000000260000
    Size
    1,700 SF
    Lot size
    5.67 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6494

    Utilities

    Utilities
    Cable Available

    Building Details

    Year built
    1964
    Floors in Building
    1
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    MIKEL MUFFLEY
    MIKEL MUFFLEY

    Listing agent MIKEL MUFFLEY License #265052

    Listing office Weichert, Realtors - The Collective 342 N Main Street Suite 200, Atlanta, GA

    Listing date Apr 18, 2026

    MLS# 7755732 Listing URL

    Copyright © 2026 First Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Covington Commercial Land For Sale

    This property features 5.67 acres of land zoned C-1 commercial, offering potential for development. The site includes a 1,700-square-foot single-family home and a 30x40 metal building equipped with electricity. All utilities are available. The location benefits from a daily traffic count exceeding 14,000 cars. A new Department of Transportation roundabout is located at Highway 138/81 near the property. The property is positioned for appreciation and is suitable for future commercial development. The property has potential for full assemblage for a larger piece of land totaling over 7 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Newton
    State
    Georgia
    Longitude
    -83.848428
    Latitude
    33.743736

    Nearby Similar for Sale

    • $339,000

      Renovated Commercial Building, Covington, GA

      Commercially zoned, renovated office building near Piedmont Newton Hospital.
      5211 Adams Street NE, Covington, GA 30014
      View Details
    • $339,000
      1,476 SF

      Renovated Commercial Building in Covington

      Commercially zoned, renovated office building near Piedmont Newton Hospital.
      5211 Adams Street NE, Covington, GA 30014
      View Details
    • $339,000

      Renovated Commercial Building in Covington

      Commercially zoned, renovated office building near Piedmont Newton Hospital.
      5211 Adams Street, Covington, GA 30014
      View Details
    • $489,000

      Versatile Shop on Highway 81

      2.55 acre property with custom shop/barn on Highway 81.
      481 Highway 81, Covington, GA 30014
      View Details
    • $200,000
      1,242 SF

      Commercial Building on Highway 20

      1,242 SF commercial building on 1.55 acres in Covington.
      Highway 20 S, Covington, GA 30016
      View Details
    • $1,500,000

      Covington Commercial Property For Sale

      3.557 acres with multiple buildings, ideal for commercial development.
      6125 Washington Street SW, Covington, GA 30014
      View Details
    • $365,000

      Income-Producing Duplex in Covington

      Turnkey duplex with immediate cash flow and move-in ready flexibility.
      10266 Stone Street NW, Covington, GA 30014
      View Details
    • $1,400,000
      6,000 SF

      Industrial Facility I-20 Visibility

      6,000 SF industrial facility with I-20 corridor visibility.
      1595 Access Road, Covington, GA 30014
      View Details
    • $749,000

      Covington Land with Shop Building

      14-acre Covington land with shop and equipment storage buildings.
      173 Youth Jersey Rd, Covington, GA 30014
      View Details
    • $365,000

      Covington Income-Producing Multifamily Property

      Move-in ready Covington multifamily property with income potential.
      10266 Stone Street NW, Covington, GA 30014
      View Details
    • $300,000

      Development Land in Covington, Georgia

      3.59-acre development site with road frontage in Covington, GA.
      Brown Bridge Road, Covington, GA 30014
      View Details
    • $415,700

      Wooded Land with River Frontage

      Wooded property with river frontage, suitable for various uses.
      10-002 Butler Bridge Rd, Covington, GA 30016
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with development potential in Covington, GA.
    Where is this commercial land located?
    The property is located at 1791 Walnut Avenue Covington, GA.
    What is the asking price?
    The asking price for this property is $745,000.
    What are key features of this property?
    This property features: C‑1 Commercial Zoning with Potential for Assemblage (7+ acres); High Traffic Count: 14,000+ Cars Daily; All Utilities Available
    (404) 848-0996
    We can help!
    Listing Contact
    MIKEL MUFFLEY
    MIKEL MUFFLEY
    Real Estate License ID: 265052
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!