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    Versatile Country Retreat with Vineyard Title is generated by Realmo AI

    5603 Old Wilkie Road, Gainesville, GA 30506

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    Claim this Listing
    For Sale
    $510,950

    COMMERCIAL - Gainesville, GA

    Type:Office
    Property size:
    3,238 SF
    Lot size:
    1.83 Acres
    Price / SF:
    $157/SF
    Added:
    Apr 10, 2026
    Days on Market:
    55
    Last Refresh:
    Jun 3 at 8:06 am

    Property Features for 5603 Old Wilkie Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Fencing
    Fenced
    Standard status
    Active
    APN
    10012 000055
    Size
    3,238 SF
    Lot size
    1.83 Acres

    Taxes and HOA fees

    Tax Year
    24
    Tax Annual Amount
    4468

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Central, Heat Pump (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    2006
    Flooring type
    Hardwood
    Building materials
    Concrete, Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Kathryn Fauscett

    Listing agent Kathryn Fauscett

    Listing office Keller Williams Lanier Partners 631 Dawsonville Highway, Gainesville, GA

    Listing date Apr 10, 2026

    MLS# 10729413

    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.

    HighLights

    • 1.83‑acre country retreat with no HOA.
    • 30x50 barn with power and water.
    • Unique 4‑bedroom, 3‑bathroom floor plan with versatile lower level (kitchenette, 2 bonus rooms).
    • Enjoy the open‑concept main living area with large pantry and laundry.
    • Oversized garage with workshop/storage area.
    • Convenient location between Gainesville and Dawsonville, near GA‑400 and I‑985.

    Overview

    This property offers a country retreat on 1.83 acres featuring a unique floor plan with 4 bedrooms and 3 bathrooms. The upstairs main living area has an open layout connecting the living, dining, and kitchen spaces, along with a large pantry and laundry area. The lower level includes a full bath, kitchenette, and two bonus rooms suitable for a home office, guest suites, or additional bedrooms. The property features a 30x50 barn with power and water, Concord and muscadine grapevines, and 16 rose bushes. An oversized garage and a workshop/storage area off the garage add convenience, and a gated entry enhances privacy. The main level can be reconfigured to create a family room, expand the kitchen, or customize spaces. Located between Gainesville and Dawsonville, the property offers access to GA-400 and I-985.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $77.3k $23.88
    − Vacancy −$19.5k −$6.02
    EGI $57.8k $17.86
    − OpEx −$14.5k −$4.47
    NOI $43.4k $13.40
    3,238 SF · lease $23.88/SF/yr · vacancy 25.20% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $619.7K
    $542.2K – $723.0K (±1% cap)
    NOI $43,378 @ 7.0% cap · market cap 8.49%
    Second Best
    Mixed Use
    $476.2K
    $416.6K – $555.5K (±1% cap)
    NOI $33,331 @ 7.0% cap · market cap 6.52%
    Theoretical Best
    Office A
    $906.8K
    $793.5K – $1.06M (±1% cap)
    NOI $63,476 @ 7.0% cap · market cap 12.42%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wilkie Marketing Advertising Agency

    Suggested Use

    Restaurant Law Firm Building Supply Department Store Discount Store Electronics & Wireless Store Nursing Home Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Hall
    State
    Georgia
    Longitude
    -83.962027
    Latitude
    34.395567

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    FAQs

    What type of property is this?
    Vineyard - Unique property with vineyard, barn, and flexible living spaces.
    Where is this vineyard located?
    The property is located at 5603 Old Wilkie Road Gainesville, GA.
    What is the asking price?
    The asking price for this property is $510,950.
    What are key features of this property?
    This property features: 1.83‑acre country retreat with no HOA.; 30x50 barn with power and water.; Unique 4‑bedroom, 3‑bathroom floor plan with versatile lower level (kitchenette, 2 bonus rooms).
    (678) 316-1924
    We can help!
    Listing Contact
    Kathryn Fauscett
    Request Owner's contact information
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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.

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