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    702 Experiment St Griffin, GA 30223

    Sponsored
    For Sale
    $295,000

    SINGLE_FAMILY - Griffin, GA

    Type:Retail
    Property size:
    3,246 SF
    Lot size:
    0.07 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 27 at 10:06 pm

    Property Features for 702 Experiment St

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Standard status
    Active
    Zoning
    C1A
    Parking
    34
    Parking features
    On Street
    Interior features
    High Ceilings 10 or Greater, Reception Area, Restrooms
    Size
    3,246 SF
    Lot size
    0.07 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating)
    Cooling system
    Evaporative Cooling
    Water source
    Private

    Building Details

    Year built
    1938
    Floors in Building
    1
    Building materials
    Brick Veneer

    We can help!

    Listing Contact
    Caryn Liss

    HomeSmart (404) 876-4901

    Listing agent Caryn Liss (770) 851-3714

    Listing date Feb 27, 2026

    MLS# 7726522

    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.

    Learn more

    Property Insight Report

    Overview

    Griffin Commercial Property For Sale

    This 3,246 sq ft commercial property features high 18ft ceilings and is situated on a corner lot with high visibility. It is within walking distance of Historic Downtown Griffin's shops, restaurants, breweries, yoga studios, live music venues, parks, and entertainment options. The property benefits from an approximate daily traffic count of 7,000 and includes 34 exclusive on-site parking spaces. Zoned Downtown Commercial, it is suitable for a new restaurant, small pub, office, or mixed-use retail space. The exterior has been recently updated and features a modern entryway with 3 entry doors. The property includes 2 separate bathrooms and city utilities. The building is located near the new Carlisle Mills, a $50 million development expected to bring over 400 new residents. The lot size is 0.07 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Griffin
    County
    Spalding
    State
    Georgia
    Longitude
    -84.273974
    Latitude
    33.254159

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    FAQs

    What type of property is this?
    Retail space - 3,246 sq ft commercial property in Griffin, GA for sale.
    Where is this retail space located?
    The property is located at 702 Experiment St Griffin, GA.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: - Prime corner lot location with high visibility and approximately 7,000 daily traffic count.; - 3,246 sq ft commercial property with high 18ft ceilings.; - Downtown Commercial zoning suitable for restaurant, pub, office, or mixed-use retail.
    (404) 876-4901
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    702 Experiment St Griffin, GA 30223
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    Griffin, GA 30223
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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
    702 Experiment St Griffin, GA 30223
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    Listing Contact
    Caryn Liss
    (404) 876-4901 (770) 851-3714
    Learn more
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