Free-Standing Restaurant with Full
For Sale
$1,400,000
Pending
91 Millard Farmer Industrial Boulevard, Newnan, GA 30263
COMMERCIAL - Newnan, GA
Property Size3,432 SF
Lot Size1.20 Acres
Days on Market332
Property Features for 91 Millard Farmer Industrial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
50
Parking features
Parking Lot
Lot features
Corner Lot
Directions
Heading down I-85 South, take exit 47 onto GA-34 West, go about 1 mile then turn right onto Millard Farmer Industrial Blvd, go about .5 mile then turn right onto Unbridled Way to enter the parking lot.
Standard status
Pending
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
Listing Agency:
Lindsey's Inc., Realtors
(770) 253-6990
Listed By:
Margaret Akins
(678) 552-5948
Added: Sep 15, 2025
Changed: Aug 4
Last Checked: Aug 12 at 12:06PM
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.
Investment Insights
Based on property information with market context.
This free-standing conventional restaurant property includes a complete, operational foodservice setup in a 3,432 SF building on 1.2 acres, zoned PDC (Planned Development Commercial). Built in 2004, with extensive updates between 2018 and 2020, the facility is designed for service with a full commercial kitchen, two walk-ins, a full bar, multiple dining areas, and seating for approximately 84 guests.
The site offers 50 paved parking spaces, ADA-compliant entrances and restrooms, and a fire sprinkler system. Foodservice operations are supported by a vent hood/Ansul system and an in-ground grease trap, and the building includes four HVAC units. Water source is public and sewer service is public sewer.
The purchase package includes the real estate, ongoing business, furniture, fixtures, equipment, and small wares, with flexibility for buyers who may prefer to acquire only the real estate and FF&E.
The site offers 50 paved parking spaces, ADA-compliant entrances and restrooms, and a fire sprinkler system. Foodservice operations are supported by a vent hood/Ansul system and an in-ground grease trap, and the building includes four HVAC units. Water source is public and sewer service is public sewer.
The purchase package includes the real estate, ongoing business, furniture, fixtures, equipment, and small wares, with flexibility for buyers who may prefer to acquire only the real estate and FF&E.
Key Highlights
- 3,432 SF free‑standing restaurant building on 1.2 acres
- Zoned PDC (Planned Development Commercial)
- Built in 2004; updated between 2018‑2020
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
$55,154
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
3.94%
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%
$1,103,080
$1.1M
Cap Rate 7%
$787,914
$787.9K
Cap Rate 9%
$612,822
$612.8K
Market Conditions
NOI Build-Up for 3,432 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
$79.1K $23.04/SF
− Vacancy
−$5.5K −$1.61/SF
EGI
$73.5K $21.43/SF
− OpEx
−$18.4K −$5.36/SF
NOI
$55.2K $16.07/SF
Area
Coweta County, GA
Vacancy
7.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,103,080
Cap Rate 7%
$787,914
Cap Rate 9%
$612,822
Alternative Uses
Best Use
Specialty Retail
$787.9K
$689.4K – $919.2K
NOI $55,154 @ 7.0% cap · market cap 3.94%
Second Best
Industrial
$298.7K
$261.3K – $348.5K
NOI $20,907 @ 7.0% cap · market cap 1.49%
Theoretical Best
Office A
$959.4K
$839.5K – $1.12M
NOI $67,156 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Sprinkler system
Yes
Highway access
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
993
Businesses Nearby
198k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Shops & Services 29%
Groceries 24%
Apparel 7%
Publix
Groceries
48,168 visits/mo
0.1 miles
Plato's Closet
Apparel
13,841 visits/mo
0.0 miles
Dunkin' Donuts
Dining
12,827 visits/mo
0.4 miles
Buffalo Wild Wings
Dining
11,869 visits/mo
0.3 miles
Panera Bread
Dining
11,520 visits/mo
0.3 miles
Demographics for 30263, GA
60,467
Population
23,792
Households
2.5
Avg Household Size
38
Median Age
31%
College-Educated
89%
High-School Grad
198.2 sq mi
ZIP Area
305
Density / Sq Mi
$79,752
Median Household Income
$44,508
Median Earnings
$1,332
Median Rent
$278,200
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Free-standing restaurant on 1.2 acres with a full bar, commercial kitchen infrastructure, and ADA-compliant entrances and restrooms.
Where is this conventional 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: 3,432 SF free‑standing restaurant building on 1.2 acres; Zoned PDC (Planned Development Commercial); Built in 2004; updated between 2018‑2020
