Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    615 Patterson Rd Lafayette, GA 30728

    Sponsored
    For Sale
    $178,000

    Dental Office, Multi-Use Potential, Hwy 136 Access

    Property size:
    1,340 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    352
    This unique 1,340 square foot log structure, situated on a 0.98-acre corner lot in Lafayette, Georgia, presents a compelling investment opportunity. Previously operating as a dental practice, the building retains its dental equipment, which the seller will either leave or remove as per the buyer's preference. The property's charming character and versatile zoning (B2) offer a wide range of potential uses. The City of LaFayette Planning and Zoning department permits retail, office, general business, or multifamily development, subject to verification by prospective buyers. Its convenient location provides excellent visibility and accessibility, with frontage on Highway 136 and ample on-site parking. The property enjoys a strategic position near established businesses, including a Dialysis Center, Medical Clinic, and Lookout Mountain Community Services. This presents a rare chance to acquire a well-located, adaptable property with significant potential for redevelopment or continued use in a healthcare or commercial setting. The substantial lot size and prime location make this an attractive proposition for entrepreneurs and investors seeking a versatile space with high visibility and convenient access to major roadways. Buyers are responsible for verifying all zoning regulations and permitted uses with the City of LaFayette. The asking price is $178,000.

    Property Features for 615 Patterson Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,340 SF
    Lot Size
    42,689 SF

    Building Details

    Year Built
    1946

    We can help!

    Listing Contact
    JoAnna Jackson

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Walker
    State
    Georgia
    Longitude
    -85.26984
    Latitude
    34.70026

    Nearby Similar for Sale

    • New
      $170,000
      Pending

      La Fayette Quadruplex Opportunity

      Income-producing quadruplex near downtown La Fayette with tenants in place.
      304 S Cherokee St, Lafayette, GA 30728
      View Details
    • New
      $170,000
      Pending

      Lafayette Quadruplex Near Downtown

      Income-producing quadruplex near downtown Lafayette with tenants in place.
      304 S Cherokee St, Lafayette, GA 30728
      View Details
    • New
      $1,635,000
      25,000 SF

      Warehouse/Hangar Investment Opportunity Near Airport

      Two warehouses totaling 25,000 SF with income-producing RV/boat storage business.
      109 Gasque Dr, Lafayette, GA 30728
      View Details
    • New
      $950,000
      15,000 SF

      Warehouse with RV/Boat Storage Business

      15,000 SF warehouse with thriving storage business near airport.
      109 Gasque Dr, Lafayette, GA 30728
      View Details
    • New
      $685,000
      10,000 SF

      Warehouse/Hangar Adjacent to Airport

      10,000+ SF warehouse/hangar on 0.66 acre lot.
      106 Gasque Dr, Lafayette, GA 30728
      View Details
    • $429,000

      Lafayette Commercial Property with Warehouses

      Versatile commercial property with warehouses, retail space, and storage units.
      907 S Main St, Lafayette, GA 30728
      View Details
    • $149,900
      1,681 SF

      Commercial Building in Downtown LaFayette

      Corner lot with commercial building and paved parking in LaFayette.
      201 S Chattanooga St, Lafayette, GA 30728
      View Details
    • $125,000
      Pending

      Lafayette Commercial Property with Equity

      Versatile industrial building with warehouse and office in Lafayette.
      503 S Duke St, Lafayette, GA 30728
      View Details
    • $2,000,000
      43,960 SF

      Lafayette Industrial Portfolio For Sale

      Five industrial buildings totaling 43,960 SF on 10.72 acres.
      Cook Industrial Blvd, Lafayette, GA 30728
      View Details
    • $1,800,000
      40,000 SF

      Lafayette GA Industrial Investment

      Fully leased 40,000 SF industrial facility on 5.54 acres.
      Lafayette, GA 30728
      View Details
    • $2,000,000
      2,880 SF

      Industrial Storage Facility For Sale

      2,880 SF industrial storage facility with 7 bays.
      Cook Ind Dr, Lafayette, GA
      View Details
    • $75,000
      9.08 Acres

      High-Visibility Commercial Land in Lafayette, GA

      9 Acres, US Hwy 27 Frontage, Development Potential
      27 Us Hwy, LaFayette, GA 30728
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Dental Office, Multi-Use Potential, Hwy 136 Access
    Where is this commercial real estate located?
    The property is located at 615 Patterson Rd Lafayette, GA.
    What is the asking price?
    The asking price for this property is $178,000.
    (706) 842-2200
    Request Owner's contact information
    615 Patterson Rd Lafayette, GA 30728
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    615 Patterson Rd
    Lafayette, GA 30728
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    615 Patterson Rd Lafayette, GA 30728
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    JoAnna Jackson
    (706) 842-2200
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.