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    91 Millard Farmer Industrial Boulevard Newnan, GA 30263

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    Claim this Listing
    For Sale
    Under Contract
    $1,400,000

    COMMERCIAL - Newnan, GA

    Property size:
    3,432 SF
    Lot size:
    1.20 Acres
    Price / SF:
    $407/SF
    Added:
    Sep 15, 2025
    Days on Market:
    235
    Last Refresh:
    May 7 at 4:06 am

    Property Features for 91 Millard Farmer Industrial Boulevard

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    50
    Parking features
    Parking Lot
    Standard status
    Active Under Contract
    APN
    N57A 612
    Size
    3,432 SF
    Lot size
    1.20 Acres

    Taxes and HOA fees

    Tax Year
    24
    Tax Annual Amount
    4220

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2004
    Flooring type
    Vinyl
    Building materials
    Brick, Stucco
    Roof type
    Metal

    We can help!

    Listing Contact
    Margaret Akins

    Listing agent Margaret Akins

    Listing office Lindsey's Inc., Realtors 14 Jackson Street, Newnan, GA

    Listing date Sep 15, 2025

    MLS# 10620330

    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

    • Fully operational restaurant with proven sales history and established goodwill
    • Turnkey setup includes real estate, ongoing business, furniture, fixtures, equipment, and small wares
    • High‑visibility location on Millard Farmer Industrial Blvd with direct state highway access
    • Updated facility with full commercial kitchen, bar, multiple dining areas, and seating for 84
    • Flexible purchase options: full package, real estate + FF&E, or real estate only
    • 3,432 SF free‑standing building on 1.2 acres with 50 parking spaces and ADA compliance

    Overview

    Restaurant Property with Established Business

    This is an opportunity to acquire a fully operational restaurant property with a proven sales history and established goodwill, situated in a high-visibility location in Newnan. The property features Grayson's Steak & Seafood, an active and reputable food and beverage business operating within a 3,432 square foot free-standing building on a 1.2-acre lot, zoned PDC (Planned Development Commercial). Constructed in 2004 and extensively updated between 2018 and 2020, the facility offers a turnkey setup, including a full commercial kitchen with complete infrastructure, two walk-in coolers, a full bar, multiple dining areas, and seating for approximately 84 guests. The sale includes the real estate, the ongoing business, furniture, fixtures, equipment, and small wares, with flexibility for buyers who may prefer to acquire only the real estate and FF&E. Additional features include 50 paved parking spaces, ADA-compliant entrances and restrooms, a fire sprinkler system, vent hood/Ansul system, in-ground grease trap, and four HVAC units. Positioned on Millard Farmer Industrial Blvd, the site offers direct state highway access and strong visibility, making it ideal for continued restaurant operations or other permitted commercial uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Similar Places Nearby

    • CCislandcuisine Newnan GA — Lullwater Cir, Newnan, GA 30263
    • Your Chef To Go Inc — 98 Werz Industrial Blvd, Newnan, GA 30263
    • Tin Drum Asian Kitchen & Boba Tea - Ashley Park Newnan — 228 Newnan Crossing Bypass, Newnan, GA 30265
    • Food For Thought Catering — 25 Herring Rd, Newnan, GA 30265

    Map

    City
    Newnan
    County
    Coweta
    State
    Georgia
    Longitude
    -84.768135
    Latitude
    33.400599

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    FAQs

    What type of property is this?
    Restaurant - Turnkey restaurant with real estate, FF&E, and ongoing business.
    Where is this restaurant located?
    The property is located at 91 Millard Farmer Industrial Boulevard Newnan, GA.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Fully operational restaurant with proven sales history and established goodwill; Turnkey setup includes real estate, ongoing business, furniture, fixtures, equipment, and small wares; High‑visibility location on Millard Farmer Industrial Blvd with direct state highway access
    (678) 552-5948
    We can help!
    Listing Contact
    Margaret Akins
    Learn More
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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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