Turn-Key Restaurant with Historic
For Sale
$470,000
102 N Hill Street, Griffin, GA 30223
COMMERCIAL - Griffin, GA
Property Size1,150 SF
Price / SF$408.70
Days on Market159
Property Features for 102 N Hill Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
On Street
Lot features
City Lot, Corner Lot
Directions
DOWNTOWN GRIFFIN. CORNER OF SOLOMON & HILL ST.
Standard status
Active
APN
013 34010A
Size
1,150 SF
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2876
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1894
Building materials
Brick, Concrete
Listing Agency:
Rawlings Realty LLC
(678) 692-8639
Listed By:
Gary W Laster · License #44376
(770) 468-1332
Added: Feb 25
Changed: Aug 2
Last Checked: Aug 3 at 5:06PM
MLS# 10699765
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 turn-key restaurant opportunity is currently operating and has served guests for over 20 years. The property includes the building, land, business, equipment, and inventory, and is described as a complete operation. The interior features custom painted murals, and the offering includes transition support from the owner, who will train the new buyer and stay for the transition period.
The restaurant is located at 102 N Hill Street in the center of the historic district, conveniently positioned to downtown and the Spalding County Courthouse. The building was constructed in 1894 and is built with brick and concrete. The property is served by public water and public sewer, with central heating and central air conditioning. Parking is provided on-street.
As part of the Griffin Opera House condominiums HOA, buyer terms require providing proof of funds prior to viewing and to obtain business financials, including P&L statements.
The restaurant is located at 102 N Hill Street in the center of the historic district, conveniently positioned to downtown and the Spalding County Courthouse. The building was constructed in 1894 and is built with brick and concrete. The property is served by public water and public sewer, with central heating and central air conditioning. Parking is provided on-street.
As part of the Griffin Opera House condominiums HOA, buyer terms require providing proof of funds prior to viewing and to obtain business financials, including P&L statements.
Key Highlights
- Turn‑key restaurant includes building, land, business, equipment, and inventory
- Operating for over 20 years; owner will train and stay for transition
- Custom painted murals throughout interior
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30223, GA
38,111
Population
15,647
Households
2.4
Avg Household Size
41
Median Age
15%
College-Educated
84%
High-School Grad
108.0 sq mi
ZIP Area
353
Density / Sq Mi
$56,940
Median Household Income
$34,305
Median Earnings
$1,025
Median Rent
$186,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - An Angelo’s Mediterranean restaurant opportunity in a brick building with central HVAC and on-street parking.
Where is this conventional restaurant located?
The property is located at 102 N Hill Street 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: Turn‑key restaurant includes building, land, business, equipment, and inventory; Operating for over 20 years; owner will train and stay for transition; Custom painted murals throughout interior
