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    3215 Old Hwy 441 Homer, GA 30547

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    Claim this Listing
    For Sale
    $399,000

    COMMERCIAL - Homer, GA

    Property size:
    239,580 SF
    Lot size:
    5.53 Acres
    Price / SF:
    $1.67/SF
    Added:
    Mar 7, 2024
    Days on Market:
    775
    Last Refresh:
    Apr 21 at 8:06 pm

    Property Features for 3215 Old Hwy 441

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    B48072A
    Size
    239,580 SF
    Lot size
    5.53 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    720

    Utilities

    Utilities
    Water Available
    Sewer type
    Perc Test On File
    Water source
    Public

    Building Details

    Year built
    2025

    We can help!

    Listing Contact
    Wendy M Miller
    Wendy M Miller

    Listing agent Wendy M Miller License #415237

    Listing office BHHS Georgia Properties 2500 Daniells Bridge Rd, Bldg 200 Suite 1c, GA

    Listing date Mar 7, 2024

    MLS# 10569685

    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.

    Overview

    Commercial Corner Lot on 441

    This commercial corner lot encompasses 5.53 acres and is located at the corner of 441 North and Old Historic Hwy 441. The majority of the lot has been cleared, and the soil has been compacted. The property has county water and electric utilities available. A perc test has been completed and cleared for septic. The site features two entrances along Old Historic Hwy 441 and the new 441 bypass, offering approximately 1000 feet of road frontage. The traffic count is approximately 21,000. The property is located just north of the I85/441 exchange, Commerce Tanger Outlets, SK Batteries, Pepsi Cola, hotels, dining, housing, and medical facilities. It is zoned C2 and is suitable for business use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Auto Repair Shop Auto Parts Store Department Store Grocery & Convenience Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Homer
    County
    Banks
    State
    Georgia
    Longitude
    -83.465845
    Latitude
    34.324396

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    FAQs

    What type of property is this?
    Commercial land - 5.53 acre commercial corner lot with C2 zoning.
    Where is this commercial land located?
    The property is located at 3215 Old Hwy 441 Homer, GA.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: High‑traffic corner lot with 1000' road frontage on two highways.; Zoned C2 and ready for business development.; Cleared 5.53‑acre lot with compacted soil, perc test completed, and septic approval.
    (770) 238-2283
    We can help!
    Listing Contact
    Wendy M Miller
    Wendy M Miller
    Real Estate License ID: 415237
    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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