Turn-Key Greek Italian
For Sale
$470,000
102 N Hill St, Griffin, GA 30223
Operating Greek and Italian restaurant with a turn-key setup, training available for transition.
Property Size1,150 SF
Price / SF$408.70
Days on Market155
Property Features for 102 N Hill St
General Information
Standard status
Active
Size
1,150 SF
Additional Details
Business Included
Yes
Building Details
Year Built
1894
Listing Agency:
Rawlings Realty LLC
(770) 468-1332
Listed By:
Gary W Laster · License #44376
(770) 468-1332
Source:
Exprealty
Added: Feb 27
Changed: Jul 21
Last Checked: Jul 31 at 5:44PM
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.
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
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 - 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.
