Turn-Key Greek Italian
102 N Hill St Griffin, GA 30223
102 N Hill St, Griffin, GA, 30223
$470,000
For Sale
$470,000
Operating Greek and Italian restaurant with a turn-key setup, training available for transition.
Property Size1,150 SF
Price / SF$408.70
Days on Market144
Property Features for 102 N Hill St
General Information
- Standard status
- Active
- Size
- 1,150 SF
Listing agency
Rawlings Realty LLC
(770) 468-1332
Listed by
Gary W Laster · License #44376
(770) 468-1332
Source
Exprealty
Added: Feb 27 Updated: Jul 21 at 8:06AM Checked: Jul 21 at 8:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rawlings Realty LLC
Investment Insights
Based on property information with market context.
This turn-key restaurant is currently operating and has been in business for more than 20 years. The offering includes the building and land, along with the business, equipment, inventory, and other operating items necessary to continue operations. The space totals about 1,150 square feet and features custom painted murals throughout the interior. The property is built in 1894 and is part of the Griffin Opera House Condominiums HOA.
The restaurant is located in the center of the historic district and is conveniently positioned to downtown and the Spalding County Courthouse.
The owner is retiring and is willing to stay to train and support a transition for the buyer. Buyer will need to provide proof of funds prior to viewing and to obtain business financials, including P&L statements.
The restaurant is located in the center of the historic district and is conveniently positioned to downtown and the Spalding County Courthouse.
The owner is retiring and is willing to stay to train and support a transition for the buyer. Buyer will need to provide proof of funds prior to viewing and to obtain business financials, including P&L statements.
Key Highlights
- Angelos Mediterranean Restaurant operating for over 20 years; owner is retiring and will train for the transition.
- Cozy 1,150 SF restaurant operation that includes building, land, business, equipment, and inventory.
- Serving Greek/Italian food with custom painted murals throughout the interior.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.5k | $23.04 |
| − Vacancy | −$1.9k | −$1.61 |
| EGI | $24.6k | $21.43 |
| − OpEx | −$6.2k | −$5.36 |
| NOI | $18.5k | $16.07 |
1,150 SF · lease $23.04/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$264.0K
$231.0K – $308.0K
NOI $18,481 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$322.9K
$282.6K – $376.7K
NOI $22,604 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
FormSmith
Big Box & Wholesale Store
ChiroWise
Alternative Medicine Practice
The Griffin Opera House
Theater & Performing Art Venue
Angelos Mediterranean Restaurant
Restaurant
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FAQs
What type of property is this?
Conventional restaurant - Operating Greek and Italian restaurant with a turn-key setup, training available for transition.
Where is this conventional restaurant located?
The property is located at 102 N Hill St Griffin, GA.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Angelos Mediterranean Restaurant operating for over 20 years; owner is retiring and will train for the transition.; Cozy 1,150 SF restaurant operation that includes building, land, business, equipment, and inventory.; Serving Greek/Italian food with custom painted murals throughout the interior.
