Commercial Land with Highway
For Sale
$349,900
2429 Scenic Highway, Snellville, GA 30078
Commercial Sale, Snellville, GA
Property Size1,360 SF
Lot Size5.14 Acres
Price / SF$257.28
Days on Market94
Property Features for 2429 Scenic Highway
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
4
Lot features
Level
Directions
Google and Apple Maps Accurate.
Standard status
Active
APN
R5006 004A
Size
1,360 SF
Lot size
5.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2723
Utilities
Sewer type
Public Sewer
Cooling system
Wall Unit(s)
Water source
Public
Amenities
barn/workshop
Building Details
Year built
1936
Flooring type
Hardwood
Building materials
Wood Siding
Additional Structures
Workshop
Listing Agency:
Keller Williams Premier · Keller Williams Realty
(678) 487-1600
Listed By:
Tiffney Riffle · License #401816
(470) 286-2912
Added: Jun 15
Changed: Sep 3
Last Checked: Sep 16 at 4:06AM
MLS# 10786093
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.
This 5.14-acre commercial land tract includes a 1936 wood-sided home with hardwood flooring and wall-unit cooling, along with a large barn/workshop structure. The existing improvements provide functional structures on the site, while the property’s RS-180 residential zoning governs current use. Public sewer is available at the road, and public water serves the property.
Located at 2429 Scenic Highway in Snellville, the site has over 400 feet of frontage along Scenic Highway 124 and is positioned near the intersection with U.S. Route 78. Townhomes are located behind the property, while an adjacent home has been converted to salon/business use. The rear portion borders a creek and includes some floodplain, an important consideration for future site planning.
Located at 2429 Scenic Highway in Snellville, the site has over 400 feet of frontage along Scenic Highway 124 and is positioned near the intersection with U.S. Route 78. Townhomes are located behind the property, while an adjacent home has been converted to salon/business use. The rear portion borders a creek and includes some floodplain, an important consideration for future site planning.
Key Highlights
- 5.14 acres along Scenic Highway 124 in Snellville
- Over 400 feet of road frontage
- RS‑180 residential zoning
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
$18,212
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
5.20%
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%
$364,240
$364.2K
Cap Rate 7%
$260,171
$260.2K
Cap Rate 9%
$202,356
$202.4K
Market Conditions
NOI Build-Up for 1,360 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
$32.5K $23.87/SF
− Vacancy
−$8.2K −$6.02/SF
EGI
$24.3K $17.85/SF
− OpEx
−$6.1K −$4.46/SF
NOI
$18.2K $13.39/SF
Area
Gwinnett County, GA
Vacancy
25.20%
Lease Rate
$23.87 /SF/Yr
Expense Ratio
25.00%
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%
$364,240
Cap Rate 7%
$260,171
Cap Rate 9%
$202,356
Alternative Uses
Best Use
Office B
$260.2K
$227.7K – $303.5K
NOI $18,212 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$380.2K
$332.7K – $443.5K
NOI $26,612 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,717
Businesses Nearby
Explore this area
Business Placement
Demographics for 30078, GA
38,350
Population
13,784
Households
2.8
Avg Household Size
39
Median Age
42%
College-Educated
91%
High-School Grad
17.3 sq mi
ZIP Area
2,217
Density / Sq Mi
$90,054
Median Household Income
$44,657
Median Earnings
$1,641
Median Rent
$316,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - The property includes a vintage home and barn/workshop structure along an established commercial corridor.
Where is this commercial land located?
The property is located at 2429 Scenic Highway Snellville, GA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 5.14 acres along Scenic Highway 124 in Snellville; Over 400 feet of road frontage; RS‑180 residential zoning
