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    The Largest CRE Database in the US with Over 1 Million Listings

    2820 Old Riah Rd Evans, GA 30809

    Sponsored
    For Sale
    $1,125,000

    MULTI_FAMILY - Evans, GA

    Property size:
    8,056 SF
    Lot size:
    1.03 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 25 at 11:06 pm

    Property Features for 2820 Old Riah Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 3, Bathroom 15, Bedroom 5, Bathroom 14, Bedroom 11, Bedroom 9, Bedroom 6, Bedroom 10, Bedroom 1, Bedroom 16, Bathroom 2, Bathroom 5, Bedroom 15, Bathroom 9, Bedroom 13, Bathroom 11, Bedroom 2, Bedroom 7, Bathroom 16, Bedroom 3, Bathroom 8, Bathroom 13, Bedroom 12, Bathroom 1, Bathroom 4, Bathroom 7, Bedroom 4, Bedroom 8, Bedroom 14, Bathroom 10, Bathroom 12, Bathroom 6
    Bedrooms
    16
    Bathrooms
    16
    APN
    077a030a
    Size
    8,056 SF
    Lot size
    1.03 Acres

    Building Details

    Year built
    2013
    Number of units
    8

    We can help!

    Listing Contact
    Danielle Meikrantz
    Danielle Meikrantz

    Meybohm Commercial Properties (706) 736-0700

    Listing agent Danielle Meikrantz (706) 284-8359 License #401159

    Listing date Feb 25, 2026

    MLS# 552551 Listing URL

    Copyright © 2026 Hive MLS. 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

    Multifamily Investment Opportunity in Evans, GA

    This multifamily property in Evans, Georgia, presents a rare opportunity to acquire four duplex buildings, totaling eight units. Constructed in 2013, the property is located off Riverwatch Parkway, near Washington Road at 2820, 2826, 2832, and 2838 Old Riah Road, within a high-demand Columbia County rental corridor. The location benefits from consistent occupancy and a strong tenant pool. The property consists of eight units, each featuring 2 bedrooms and 2 bathrooms, with approximately 1,007 square feet of living space. Units have open floor plans and in-unit laundry. The unit mix is attractive to a broad tenant base, including medical professionals, Fort Eisenhower employees, and Columbia County residents seeking quality housing in a top-rated school district. The property is comprised of four separate parcels, offering flexibility for future resale, refinancing, or phased disposition. The property contains 8,056 square feet and sits on a 1.03-acre lot. Currently, 7 of the 8 units are leased, providing immediate in-place income with near-term upside through lease-up of the remaining vacancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Hair Salon Nail Salon Gym & Fitness Center Daycare Center Bar & Pub Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Evans
    County
    Columbia
    State
    Georgia
    Longitude
    -82.121603
    Latitude
    33.533071

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    FAQs

    What type of property is this?
    Duplex - Eight-unit multifamily property in high-demand Columbia County rental corridor.
    Where is this duplex located?
    The property is located at 2820 Old Riah Rd Evans, GA.
    What is the asking price?
    The asking price for this property is $1,125,000.
    What are key features of this property?
    This property features: - Rare opportunity: Newer construction multifamily in high-demand Columbia County.; - Located in Evans, Georgia, offering convenient access and a strong tenant pool.; - Portfolio consists of four duplex buildings (eight units) on separate parcels.
    (706) 736-0700
    Request Owner's contact information
    2820 Old Riah Rd Evans, GA 30809
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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
    2820 Old Riah Rd Evans, GA 30809
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    We can help!
    Listing Contact
    Danielle Meikrantz
    Danielle Meikrantz
    Real Estate License ID: 401159
    (706) 736-0700 (706) 284-8359
    Learn more
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