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    2556 Wiggins Street Lithonia, GA 30058

    View on Map
    For Sale
    $299,000

    SINGLE_FAMILY - Lithonia, GA

    Type:Office
    Property size:
    1,164 SF
    Lot size:
    0.13 Acres
    Added:
    Aug 9, 2025
    Days on Market:
    236
    Last Refresh:
    Apr 1 at 5:06 am

    Property Features for 2556 Wiggins Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    C-1
    Parking features
    Parking Lot
    Interior features
    Living Space Available, Recessed Lighting
    Standard status
    Active
    APN
    16 153 15 021
    Size
    1,164 SF
    Lot size
    0.13 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    1062

    Utilities

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

    Building Details

    Year built
    1961
    Floors in Building
    1
    Flooring type
    Laminate
    Building materials
    Frame

    We can help!

    Listing Contact
    Bilal Shareef

    Listing agent Bilal Shareef

    Listing office EXP Realty, LLC. 1372 Peachtree St NE, Atlanta, GA

    Listing date Aug 9, 2025

    MLS# 7630920

    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.

    Overview

    Renovated Commercial Investment Property

    This renovated commercial property is located in the historic downtown area of Lithonia. The versatile property is suitable for various uses, including traditional office space, a creative studio, daycare, Airbnb, or a live/work setup. Renovations were completed in 2020 and included a new roof, HVAC system, electrical system, and plumbing. The property features a modern kitchen and bath with updated appliances and fixtures, along with fresh flooring and interior paint throughout. The lower-level unit offers potential for conversion into a studio apartment or office space, which could create an additional income stream. The property is situated in a growing area with historic charm and a strong community presence. The property size is 1164 square feet and the lot size is 0.132 acres. The basement is currently leased for approximately $1000 a month, paid weekly at $250.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shrine Of Divinity Physician NTRGRATED UNITED SOLUTIONS ... Business To Business Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lithonia
    County
    DeKalb
    State
    Georgia
    Longitude
    -84.106165
    Latitude
    33.711018

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    FAQs

    What type of property is this?
    Office units - Turnkey commercial property in historic Lithonia, ideal for diverse uses.
    Where is this office units located?
    The property is located at 2556 Wiggins Street Lithonia, GA.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Turnkey, fully renovated (2020) commercial investment property with rent rolls available.; Located in the heart of Lithonia's historic downtown business district.; Versatile property suitable for office, studio, daycare, Airbnb, or live/work.
    (888) 959-9461
    We can help!
    Listing Contact
    Bilal Shareef
    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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