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    348 Lennies Pond Rd Ellabell, GA 31308

    Sponsored
    For Sale
    $2,650,000

    LAND - Ellabell, GA

    Property size:
    1,900 SF
    Lot size:
    17.10 Acres
    Days on Market:
    26
    Last Refresh:
    Feb 24 at 5:06 am

    Property Features for 348 Lennies Pond Rd

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Vegetation
    Partially Wooded
    Zoning
    ZN28
    APN
    188-000038-001
    Appliances
    Dishwasher, Electric Water Heater, Refrigerator
    Size
    1,900 SF
    Lot size
    17.10 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Private, Well

    Building Details

    Year built
    1870
    Floors in Building
    1
    Flooring type
    Wood
    Building materials
    Wood Siding

    We can help!

    Listing Contact
    Melissa Thurston
    Melissa Thurston

    Summit Homes and Land, Llc (912) 858-2858

    Listing agent Melissa Thurston (912) 858-2858 License #295439

    Listing date Jan 30, 2026

    MLS# SA347153

    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

    Overview

    Highway Commercial Property on I-16

    This 17.1-acre highway commercial property is located off Interstate 16 and features 500 feet of road frontage. The property includes a pond and presents possibilities for travel services such as hotels, gas stations, dining, automotive, and retail stores, and even a wedding venue. A historic 1,900 square foot home has been moved to the property and updated with a new roof, spray foam insulation, electrical and plumbing. The home features a wrap-around porch, a screened back porch, and a large foyer. Inside, there are pine and oak hardwood floors, soaring ceilings, central heating and air, fresh paint, an updated kitchen, bathroom, and lighting fixtures. The living room includes a wood-burning fireplace and built-in bookcases. The master bedroom has built-in storage in the sitting area under the bay windows. The kitchen is equipped with new appliances, a pantry, and ample counter space and cabinets. Two additional bedrooms are located off the hall and foyer. The property is zoned ZN28 and is located in Bulloch County.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Ellabell
    County
    Bryan
    State
    Georgia
    Longitude
    -81.543052
    Latitude
    32.215807

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    FAQs

    What type of property is this?
    Commercial land - 17 acres with endless possibilities for travel services.
    Where is this commercial land located?
    The property is located at 348 Lennies Pond Rd Ellabell, GA.
    What is the asking price?
    The asking price for this property is $2,650,000.
    What are key features of this property?
    This property features: - 17 acres of Highway Commercial property with **500 ft of road frontage off Interstate 16.**; - Updated and restored historic home with new roof, spray foam insulation, electrical, and plumbing.; - **Endless possibilities for commercial development** (hotels, gas stations, retail, wedding venue, etc.).
    (912) 858-2858
    Request Owner's contact information
    348 Lennies Pond Rd Ellabell, GA 31308
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    Ellabell, GA 31308
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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
    348 Lennies Pond Rd Ellabell, GA 31308
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    We can help!
    Listing Contact
    Melissa Thurston
    Melissa Thurston
    Real Estate License ID: 295439
    (912) 858-2858 (912) 247-4298
    Learn more
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