C-1 Zoned Commercial Development
1791 Walnut Avenue Covington, GA 30014
For Sale
$739,900
LAND - Covington, GA
Property Size2,900 SF
Lot Size5.67 Acres
Price / SF$255.14
Days on Market104
Property Features for 1791 Walnut Avenue
General Information
Property type
Land
Property subtype
Single Family Residence
Zoning
C-1
Standard status
Active
APN
WG01000000260000
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
Listing Agency:
Weichert, Realtors - The Collective
(404) 848-0996
Listed By:
MIKEL MUFFLEY · License #265052
(404) 848-0996
Added: Apr 18
Changed: Jul 6
Last Checked: Jul 30 at 10:06AM
MLS# 7755732
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.
Investment Insights
Based on property information with market context.
This C-1 zoned commercial development site offers 5.67 acres with utilities available. The property includes existing improvements: a 1,700 SF single-family home and a 30 x 40 metal building with electricity. The offering also contemplates a potential full assemblage for a larger combined parcel of 7+ acres total, providing flexibility for a broader commercial layout.
The property is located at 1791 Walnut Avenue in Covington, Georgia. Public remarks note daily traffic of 14,000+ cars, along with a new DOT roundabout at Hwy 138/81 near the property, supporting convenient access for prospective customers and delivery routes.
With C-1 zoning in place, this land is positioned for buyers and developers seeking a commercially oriented site that can support multiple planning options. The existing home and metal building may also allow for interim use while longer-term development plans are evaluated, and the potential assemblage supports consideration of projects that require a larger footprint. For details on the assemblage concept and next steps, contact the listing team for a private showing.
The property is located at 1791 Walnut Avenue in Covington, Georgia. Public remarks note daily traffic of 14,000+ cars, along with a new DOT roundabout at Hwy 138/81 near the property, supporting convenient access for prospective customers and delivery routes.
With C-1 zoning in place, this land is positioned for buyers and developers seeking a commercially oriented site that can support multiple planning options. The existing home and metal building may also allow for interim use while longer-term development plans are evaluated, and the potential assemblage supports consideration of projects that require a larger footprint. For details on the assemblage concept and next steps, contact the listing team for a private showing.
Key Highlights
- C‑1 Commercial Zoning with Potential for Assemblage (7+ acres)
- High Traffic Count: 14,000+ Cars Daily
- All Utilities Available
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.5k | $26.04 |
| − Vacancy | −$4.7k | −$1.61 |
| EGI | $70.8k | $24.43 |
| − OpEx | −$31.9k | −$10.99 |
| NOI | $39.0k | $13.43 |
2,900 SF · lease $26.04/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$556.6K
$487.0K – $649.3K
NOI $38,959 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$810.7K
$709.3K – $945.8K
NOI $56,746 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Commercial land - C-1 commercial land with utilities, existing structures, and high daily traffic for development planning.
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 $739,900.
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
