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    731 Progress Rd Ellijay, GA 30540

    View on Map
    Sponsored
    For Sale
    $600,000

    Commercial - Ellijay, GA

    Property size:
    3,600 SF
    Lot size:
    1.35 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 30 at 2:06 pm

    Property Features for 731 Progress Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    C1
    APN
    3067 015F
    Parking
    20
    Parking features
    Driveway, Paved or Surfaced
    Interior features
    Handicap Facilities, Garage Doors, Private Restrooms, Cable TV Available, Telephone
    Accessibility
    Accessible Approach with Ramp
    Size
    3,600 SF
    Lot size
    1.35 Acres

    Utilities

    Utilities
    Cable Available, Phone Available
    Heating system
    See Remarks (Heating)

    Building Details

    Year built
    2009
    Floors in Building
    1
    Building materials
    Frame
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Emily Reece
    Emily Reece

    REMAX Town & Country

    Listing agent Emily Reece

    Listing date Mar 30, 2026

    MLS# 429077 Listing URL

    Copyright © 2026 Northeast Georgia Board of Realtors. 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

    Income-Producing Commercial Property For Sale

    This income-producing commercial property is located in a high-traffic area of Gilmer County. The 1.35-acre property features three buildings, totaling 7,620 square feet, and is fully occupied by four established tenants. Building 1, constructed in 1995 with an effective year of 2001, is a 3,600 square foot storage/warehouse with a 1,200 square foot canopy and 16-foot wall height. Building 2, built in 2005 with an effective year of 2009, is an 880 square foot service garage with 14-foot wall height and two canopies measuring 912 square feet and 160 square feet. Building 3, attached to Building 2 and constructed in 2004 with an effective year of 2009, offers 3,140 square feet, a 14-foot wall height, and three canopies measuring 75 square feet, 120 square feet, and 120 square feet. The property is zoned C1 and is serviced by county water and septic. Located near Walmart, Lowe's, major restaurants, and medical facilities, the property is situated across from a planned new commercial development. The tenants are responsible for their own utilities, with estimated water costs between $80 and $85 per month. Insurance and property taxes are approximately $2,500 per year each. The property offers potential for paid parking, rental increases, repositioning, or expansion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    David Ray Services General Contractor Pride-Built Homes Construction Company

    Suggested Use

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

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

    Similar Places Nearby

    Tommy's Auto Repair, Ideal Auto Care, Ellijay Muffler Services, Southside Express Lube, Larry's Body Shop

    Location Insight

    • Map
    • Local Demand
    City
    Ellijay
    County
    Gilmer
    State
    Georgia
    Longitude
    -84.491761
    Latitude
    34.6707546

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    FAQs

    What type of property is this?
    Auto shop - Fully occupied commercial property with three buildings and four tenants.
    Where is this auto shop located?
    The property is located at 731 Progress Rd Ellijay, GA.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: - Prime income-producing commercial property in a high-traffic Gilmer County location near major retailers and facilities.; - Fully occupied with four established tenants, providing immediate and dependable revenue.; - Three well-maintained buildings totaling 7,620 sq ft on 1.35 acres, designed for low maintenance and ease of ownership.
    (706) 889-6154
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    731 Progress Rd Ellijay, GA 30540
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    Ellijay, GA 30540
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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
    731 Progress Rd Ellijay, GA 30540
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    Listing Contact
    Emily Reece
    Emily Reece
    Real Estate License ID: 407651
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