Griffin Commercial Property on 7.1
For Sale
$375,000
Pending
1901 & 1905 W Mcintosh Road, Griffin, GA 30224
COMMERCIAL - Griffin, GA
Property Size2,082 SF
Lot Size7.10 Acres
Days on Market350
Property Features for 1901 & 1905 W Mcintosh Road
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Level
Directions
From Griffin, go North on 19/41, take a left onto Hwy 92, property is on the right #1901.
Standard status
Pending
APN
248B01005
Size
2,082 SF
Lot size
7.10 Acres
Taxes and HOA fees
Tax Year
2020
Tax Annual Amount
2262
Building Details
Year built
1904
Listing Agency:
Southern Realty Group of GA, Inc.
(770) 227-1211
Listed By:
April N English · License #243490
(770) 616-4546
Added: Aug 27, 2025
Changed: Aug 4
Last Checked: Aug 11 at 10:06PM
MLS# 10592240
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.
Located at the corner of Highway 92 and Cowan Road, across from Griffin First Assembly of God church, this property features 7.1 acres of land. The site includes an older, well-maintained two-story home constructed in 1904, offering 2082 square feet of space. In addition to the main residence, the property contains a large outbuilding and several barns.
Key Highlights
- Prime corner lot location on Hwy 92 and Cowan Rd
- Large 7.1 acre property
- Includes a well‑maintained, older 2‑story home built in 1904
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
$27,970
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
7.46%
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%
$559,400
$559.4K
Cap Rate 7%
$399,571
$399.6K
Cap Rate 9%
$310,778
$310.8K
Market Conditions
NOI Build-Up for 2,082 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
$54.2K $26.04/SF
− Vacancy
−$3.4K −$1.61/SF
EGI
$50.9K $24.43/SF
− OpEx
−$22.9K −$10.99/SF
NOI
$28.0K $13.43/SF
Area
Spalding County, GA
Vacancy
6.20%
Lease Rate
$26.04 /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%
$559,400
Cap Rate 7%
$399,571
Cap Rate 9%
$310,778
Alternative Uses
Best Use
Apartment 5plus
$399.6K
$349.6K – $466.2K
NOI $27,970 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$584.6K
$511.6K – $682.1K
NOI $40,924 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 30224, GA
26,696
Population
11,457
Households
2.3
Avg Household Size
40
Median Age
22%
College-Educated
88%
High-School Grad
67.7 sq mi
ZIP Area
394
Density / Sq Mi
$70,134
Median Household Income
$39,667
Median Earnings
$1,105
Median Rent
$210,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - 7.1 acres with a well-maintained, historic two-story home.
Where is this commercial land located?
The property is located at 1901 & 1905 W Mcintosh Road Griffin, GA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Prime corner lot location on Hwy 92 and Cowan Rd; Large 7.1 acre property; Includes a well‑maintained, older 2‑story home built in 1904
