Corner Storefront
For Sale
$249,900
698 Butler Parkway, Gainesville, GA 30501
Commercial Sale, Gainesville, GA
Property Size950 SF
Lot Size0.02 Acres
Price / SF$263.05
Days on Market110
Property Features for 698 Butler Parkway
General Information
Property type
Residential
Property subtype
Retail
Zoning
G-B
Parking
2
Parking features
On Street
Interior features
High Ceilings 10 or Greater
Lot features
Corner Lot
View
City
Directions
It is on the corner of EE Butler Parkwasy and Summit street SW. Put 698 EE Butler PKWY into your GPS and it will take you to the front door.
Standard status
Active
APN
01020 004011
Size
950 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1901
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Amenities
high ceilings
exposed brick
natural light
two entrances
Building Details
Year built
1930
Floors in Building
1
Flooring type
Tile
Building materials
Stucco, Brick
Roof type
Flat
Listing Agency:
HomeSmart · HomeSmart International
(404) 876-4901
Listed By:
RUSTY TAYLOR
(404) 876-4901
Added: May 14
Changed: Aug 19
Last Checked: Aug 31 at 5:06AM
MLS# 7770637
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.
Investment Insights
Based on property information with market context.
This 950-square-foot storefront shell occupies a corner position at 698 Butler Parkway in Gainesville. The 1930 building features ceilings measuring 10 feet or greater, tile flooring, stucco and brick construction, and a flat roof. Exposed brick remains visible in portions of the interior, while natural light adds to the existing character. The property includes two entrances and is offered as-is for completion and customization.
The site is approximately 3/4 mile from Gainesville’s historic square and is positioned along Butler Parkway. Public water and public sewer serve the property, with natural gas available. On-street parking is provided. G-B zoning and the open shell configuration support planning for a range of commercial layouts, subject to applicable requirements.
The site is approximately 3/4 mile from Gainesville’s historic square and is positioned along Butler Parkway. Public water and public sewer serve the property, with natural gas available. On-street parking is provided. G-B zoning and the open shell configuration support planning for a range of commercial layouts, subject to applicable requirements.
Key Highlights
- 950 square feet of storefront shell space
- G‑B zoning with a flexible commercial layout
- 10+ foot ceilings with exposed brick and natural light
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,953
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$219,060
$219.1K
Cap Rate 7%
$156,471
$156.5K
Cap Rate 9%
$121,700
$121.7K
Market Conditions
NOI Build-Up for 950 SF
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.
Gross rent
$17.1K $18.00/SF
− Vacancy
−$1.5K −$1.53/SF
EGI
$15.6K $16.47/SF
− OpEx
−$4.7K −$4.94/SF
NOI
$11.0K $11.53/SF
Area
Hall County, GA
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$219,060
Cap Rate 7%
$156,471
Cap Rate 9%
$121,700
Alternative Uses
Best Use
Retail
$156.5K
$136.9K – $182.6K
NOI $10,953 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$266.0K
$232.8K – $310.4K
NOI $18,623 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10 ft
Clear height
Location Intelligence
Trade Area within ½ mile
3,029
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30501, GA
29,779
Population
12,916
Households
2.3
Avg Household Size
33
Median Age
21%
College-Educated
71%
High-School Grad
21.9 sq mi
ZIP Area
1,360
Density / Sq Mi
$58,214
Median Household Income
$33,299
Median Earnings
$1,152
Median Rent
$249,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - G-B zoning, natural light, and exposed brick provide a distinctive starting point for commercial buildout.
Where is this storefront property located?
The property is located at 698 Butler Parkway Gainesville, GA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 950 square feet of storefront shell space; G‑B zoning with a flexible commercial layout; 10+ foot ceilings with exposed brick and natural light
