Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2470 Fears Rd Madison, GA 30650

    Sponsored
    For Sale
    $3,836,851

    LAND - Madison, GA

    Lot size:
    199.49 Acres
    Days on Market:
    20
    Last Refresh:
    Jan 24 at 6:06 pm

    Property Features for 2470 Fears Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Vegetation
    Grassed, Wooded
    APN
    029 050
    Lot size
    199.49 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well
    Water front features
    Creek
    Water front
    1

    We can help!

    Listing Contact
    Judy Roberts

    Keller Williams Realty Lake Oconee (706) 485-0088

    Listing agent Judy Roberts (706) 485-0088

    Listing date Jan 5, 2026

    MLS# 10613960 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Nearly 200 Acres in Madison

    Two parcels are available, totaling approximately 199.49 acres with significant road frontage. One parcel, identified as 030 001A, spans 44.33 acres with about 1,780 feet of frontage. This parcel is partially wooded and includes a pond with a dam, making it suitable for a homesite. The second parcel, 029 050, covers 155.16 acres and features approximately 3,300 feet of frontage. This parcel is wooded and contains an estimated 95 acres of timber, valued at approximately $76,000 per seller. A 1,075 square foot cabin with two bedrooms and two bathrooms, built in 2004 with a metal roof and pine flooring, is included and sold AS IS. The cabin is currently leased and can be vacated with notice. Additionally, the property includes a 40x31 pole shed and a creek. A hunting lease is in place, offering potential income. This property presents an excellent opportunity for recreation, farming, development, or a private retreat. The property is in CUVA tax conservation and must remain through the current term. It is conveniently located near I-20 and US Hwy 441/129 near Madison.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Morgan
    State
    Georgia
    Longitude
    -83.585091
    Latitude
    33.574014

    Nearby Similar for Sale

    • $3,695,000
      9,806 SF

      Hospitality & Event Venue Estate

      Turnkey hospitality and event venue on 100+ acre estate.
      1051 Meadow Ln, Madison, GA 30650
      View Details
    • $895,000
      0.58 Acres

      Downtown Madison Live-Work Opportunity

      Circa 1895 home zoned for commercial and residential use.
      270 SOUTH Main St, Madison, GA 30650
      View Details
    • $895,000
      5,000 SF

      Historic Live-Work Property in Madison

      Circa 1895 live/work property in downtown Madison, Georgia.
      270 S Main St, Madison, GA 30650
      View Details
    • $3,675,000
      9,800 SF

      Lake Oconee Estate: Development Opportunity

      106-acre estate near Lake Oconee with development potential.
      1051 Meadow Ln, Madison, GA 30650
      View Details
    • $3,675,000
      106.00 Acres

      Hospitality & Event Venue Estate

      100+ acre estate with thriving hospitality business on Lake Oconee.
      1051 Meadow Ln, Madison, GA 30650
      View Details
    • $485,000
      3,000 SF

      Madison Commercial Investment Opportunity

      Turnkey commercial property with long-term tenants and a strong cap rate.
      2151 Eatonton Rd, Madison, GA 30650
      View Details
    • $3,750,000
      122.50 Acres

      Luxury Estate with Turnkey Retreat

      123-acre estate in Morgan County with luxury home and guest apartment.
      1101 Shockley Rd, Madison, GA 30650
      View Details
    • $3,695,000
      106.00 Acres

      Established Farm and Inn Venue

      106-acre farm with inn, event venue, and river frontage.
      1051 Greensboro Rd, Madison, GA 30650
      View Details
    • Contact for pricing
      165,803 SF

      Madison Industrial Facility with Rail

      165,803 SF industrial building with rail access for sale.
      1330 Atlanta Hwy, Madison, GA 30650
      View Details
    • $150,000

      Waterfront Lot Ready For Dock

      Waterfront lot with dock permit approval and water meter.
      1061 Apalachee Shr Ct, Madison, GA 30650
      View Details
    • Contact for pricing

      Eatonton Road Specialty Property

      Specialty property available for sale on Eatonton Road.
      1581 Eatonton Rd, Madison, GA 30650
      View Details
    • Contact for pricing
      36,100 SF

      Madison Industrial Property For Sale

      36,100 square foot industrial property in Madison, Georgia.
      100 Amtico Rd, Madison, GA 30650
      View Details

    FAQs

    What type of property is this?
    Farm - Two parcels totaling 199.49 acres near I-20 and US Hwy.
    Where is this farm located?
    The property is located at 2470 Fears Rd Madison, GA.
    What is the asking price?
    The asking price for this property is $3,836,851.
    What are key features of this property?
    This property features: - Large acreage: Nearly 200 acres offering diverse opportunities.; - Significant road frontage: Approximately 5,080 ft across two parcels.; - Income potential: Includes marketable timber (est. value $76,000) and existing hunting lease.
    (706) 485-0088
    Request Owner's contact information
    2470 Fears Rd Madison, GA 30650
    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.
    2470 Fears Rd
    Madison, GA 30650
    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
    2470 Fears Rd Madison, GA 30650
    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

    We can help!
    Listing Contact
    Judy Roberts
    (706) 485-0088
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.