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    243 S Old Highway 5 Ellijay, GA 30540

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    For Sale
    $949,000

    COMMERCIAL - Ellijay, GA

    Type:Office
    Property size:
    1,248 SF
    Lot size:
    1.06 Acres
    Price / SF:
    $760/SF
    Added:
    May 7, 2026
    Days on Market:
    2
    Last Refresh:
    May 8 at 10:06 am

    Property Features for 243 S Old Highway 5

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Parking
    10
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    3067B 001B
    Size
    1,248 SF
    Lot size
    1.06 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1310

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2002
    Flooring type
    Carpet, Tile
    Building materials
    Concrete, Frame
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Catherine Benitez

    Listing agent Catherine Benitez License #259673

    Listing office RE/MAX Town & Country 96 Craig Street, Suite 111, GA

    Listing date May 7, 2026

    MLS# 10759358

    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.

    HighLights

    • High‑visibility commercial property on heavily traveled Old Highway 5.
    • Zoned C‑1, supporting retail, office, and service‑related businesses.
    • Large 3,200+ SF warehouse ideal for commercial, landscaping, storage, operations, or distribution purposes.
    • Features a separate lower‑level entrance with lockout capability, kitchenette, and restroom, providing a potential secondary income stream.
    • Over an acre of land with dual circular driveways, ample parking, and room for expansion.
    • Updated infrastructure including a 2024 metal roof, county water, and natural gas.

    Overview

    Versatile Commercial Property in Ellijay

    This commercial property, situated on over an acre, is zoned C-1, generally supporting retail, office, and service-related businesses. Located along heavily traveled Old Highway 5, it connects downtown Ellijay and is near the Walmart shopping plaza. The updated 3-story commercial building, with over 2,000 square feet, offers visibility and scalability. It is located across from an entrance to the Coosawattee River Resort and benefits from high daily traffic, with two access drives on Old Highway 5 and one access to Progress Road. The main level features window frontage and a floor-to-ceiling fireplace, suitable for a showroom or reception area, along with an oversized private office and restroom. The upstairs loft overlooks the main level and includes two separate offices with vaulted ceilings and exposed beams. The lower level has a separate entrance and lockout capability, with a kitchenette and restroom, providing a secondary income stream. A large warehouse, with over 3,200 square feet, is suitable for commercial, landscaping, storage, operations, or distribution purposes. Dual circular driveways offer ample parking and accommodate larger vehicles and trailers. Additional acreage allows for expansion. Infrastructure includes county water, natural gas, a 2024 metal roof, and a septic system installed in 2010, sized for future restroom expansion. The property is positioned in a commercial corridor and benefits from a robust tourism market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tax Consultants of North ... Tax Preparation Spa Glisson Inc Alternative Medicine Practice

    Suggested Use

    Restaurant Real Estate Agency Big Box & Wholesale Store Kitchen & Bath Showroom Hotel & Motel Cosmetic Store Travel Agency Restaurant Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Ellijay
    County
    Gilmer
    State
    Georgia
    Longitude
    -84.500619
    Latitude
    34.665645

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    FAQs

    What type of property is this?
    Mixed-use property - Updated commercial building with warehouse and expansion potential.
    Where is this mixed-use property located?
    The property is located at 243 S Old Highway 5 Ellijay, GA.
    What is the asking price?
    The asking price for this property is $949,000.
    What are key features of this property?
    This property features: High‑visibility commercial property on heavily traveled Old Highway 5.; Zoned C‑1, supporting retail, office, and service‑related businesses.; Large 3,200+ SF warehouse ideal for commercial, landscaping, storage, operations, or distribution purposes.
    (706) 889-4784
    We can help!
    Listing Contact
    Catherine Benitez
    Real Estate License ID: 259673
    Learn More
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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.

    More about this property
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