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

    Chestnut Rd Covington, GA 30016

    Sponsored
    For Sale
    $375,480

    LAND - Covington, GA

    Lot size:
    35.76 Acres
    Days on Market:
    19
    Last Refresh:
    Jan 26 at 3:06 pm

    Property Features for Chestnut Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Vegetation
    Wooded
    APN
    003000000003200
    Lot size
    35.76 Acres

    Utilities

    Utilities
    Water Available
    Water source
    Public

    We can help!

    Listing Contact
    Barbara D Durrance
    Barbara D Durrance

    Market South Properties, Inc. (770) 898-4899

    Listing agent Barbara D Durrance (770) 898-4899

    Listing date Jan 8, 2026

    MLS# 10616695 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Prime Agricultural Land in Covington, GA

    This 35.76-acre agricultural land is located in a rural area of Covington, GA, offering opportunities for farming or timber investment. The property is suited for a family compound, expansion of a farming operation, timber harvest, or land investment. Mature trees are ready to harvest, and the property is no longer in conservation. Situated on Chestnut Rd, a paved road, the land benefits from farm neighbors, creating a peaceful agricultural setting. Wildcat Creek runs along the back property line, offering the potential to build a pond. The land behind the property along the creek is a protected green space, providing additional privacy. The location is approximately 8 miles from I-20, providing convenient access to major highways. It is also located approximately 2 miles from the intersection of Hwy 212/81 at the Henry County line, positioning the property for potential future development as the area grows.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land

    Map

    City
    Covington
    County
    Newton
    State
    Georgia
    Longitude
    -83.923444
    Latitude
    33.513838

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    FAQs

    What type of property is this?
    Agricultural land - 35.76 acres of agricultural land perfect for farming or timber.
    Where is this agricultural land located?
    The property is located at Chestnut Rd Covington, GA.
    What is the asking price?
    The asking price for this property is $375,480.
    What are key features of this property?
    This property features: - Prime agricultural land suitable for farming, timber harvest, or investment.; - Convenient location: 8 miles from I-20, offering easy highway access.; - Mature trees ready for timber harvest, no longer in conservation.
    (678) 283-7875
    Request Owner's contact information
    Chestnut Rd Covington, GA 30016
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    Covington, GA 30016
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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
    Chestnut Rd Covington, GA 30016
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    We can help!
    Listing Contact
    Barbara D Durrance
    Barbara D Durrance
    (678) 283-7875
    Learn more
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