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    The Largest CRE Database in the US with Over 1 Million Listings

    Big Sky Dr Hiawassee, GA 30546

    Sponsored
    For Sale
    $499,999

    Commercial - Hiawassee, GA

    Lot size:
    2.27 Acres
    Days on Market:
    15
    Last Refresh:
    Jan 28 at 2:06 pm

    Property Features for Big Sky Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    H002 181H
    Interior features
    See Remarks
    Exterior features
    See Remarks
    Lot size
    2.27 Acres

    Utilities

    Heating system
    See Remarks (Heating)

    Building Details

    Building materials
    See Remarks
    Roof type
    See Remarks
    Architectural style
    Other
    Additional Structures
    See Remarks

    We can help!

    Listing Contact
    Grant Waugh
    Grant Waugh

    Down Home Properties (404) 451-8171

    Listing agent Grant Waugh (404) 451-8171

    Listing date Jan 14, 2026

    MLS# 415733 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

    Hiawassee Commercial Land with Lake Views

    Located in downtown Hiawassee, this 2.27-acre commercial property offers a development opportunity with lake and mountain views. The land consists of two parcels, 0.76 acres and 1.51 acres, situated at a higher elevation than the existing retail along the street, providing unobstructed views of Lake Chatuge and 360-degree mountain vistas. The site has visibility from N Main Street (Highway 76). The property was previously approved for a 64-room, three-story hotel with 70 parking spaces, a pool, and a putting green by Best Western and Choice Hotel Group. Public water and sewer access are in place, supporting hospitality, multifamily, or mixed-use projects. The elevated topography and scenic surroundings are suitable for apartments, condos, townhouses, or short-term rental developments. The property is located within the Hiawassee Rural Zone through December 2026, offering tax incentives for developers, including job creation credits, investment credits, and rehabilitation credits. The parcels are some of the last remaining undeveloped lots in the zone's core business district.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Hiawassee
    County
    Towns
    State
    Georgia
    Longitude
    -83.7571324
    Latitude
    34.9533888

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    FAQs

    What type of property is this?
    Commercial land - 2.27-acre commercial property with lake and mountain views in Hiawassee.
    Where is this commercial land located?
    The property is located at Big Sky Dr Hiawassee, GA.
    What is the asking price?
    The asking price for this property is $499,999.
    What are key features of this property?
    This property features: - Significant tax incentives available through December 2026 due to Hiawassee Rural Zone designation.; - Previously approved for a 64-room hotel, indicating development feasibility.; - **Prime location in downtown Hiawassee with excellent visibility from N Main Street (Highway 76).**
    (404) 451-8171
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    Big Sky Dr Hiawassee, GA 30546
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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
    Big Sky Dr Hiawassee, GA 30546
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    Listing Contact
    Grant Waugh
    Grant Waugh
    (404) 451-8171
    Learn more
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