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    679 N Central Avenue Hapeville, GA 30354

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    For Sale
    $500,000

    Versatile property in Hapeville's Historic District, suitable for various uses.

    Property size:
    2,092 SF
    Price / SF:
    $239/SF
    Added:
    Jan 29, 2025
    Days on Market:
    454
    Last Refresh:
    Apr 1 at 8:48 pm

    Property Features for 679 N Central Avenue

    General Information

    Standard status
    Active
    Size
    2,092 SF
    Property subtype
    Other

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Harry Norman Realtors

    Listing agent Harry Norman Realtors

    Listing office

    Listing date Jan 29, 2025

    Source Xome

    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 Harry Norman Realtors

    Overview

    Historic Hapeville Mixed-Use Property

    Constructed in the 1890s during Hapeville's expansion as a train depot village, this property features prime frontage and has been thoughtfully maintained for residential or commercial use. Located in Hapeville's Historic District, it is near parks, restaurants, breweries, a coffee shop, and cultural attractions. Its location within the Arts Overlay District, along with its proximity to the airport, Porsche HQ, and downtown Atlanta, enhances its value. The property includes a covered east-facing front porch leading to a parlor with wide pocket doors, an entry hall, a primary bedroom, an open kitchen, a dining area, and a bathroom with a clawfoot tub. Upstairs, accessible by inside or outside staircases, are two additional bedrooms, a washer and dryer in the eat-in kitchen, and an office/living area. A laundry room and covered back porch provide access to the 24x24 garage with a paved backyard and storage secured by a wooden fence. A 7'x7' Craftsman garden shed is located behind the garage/storage building. The house has a new roof made of architectural shingles. With Urban Village zoning, the property offers potential for professional offices (legal, real estate, medical), art, retail shops, and a bed-and-breakfast inn. The property's flexibility makes it suitable for a live/work space, a boutique business, or a creative venture. The property size is 2092 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bed & breakfasts

    Map

    City
    Hapeville
    County
    Fulton
    State
    Georgia
    Longitude
    -84.3853
    Latitude
    33.6616

    FAQs

    What type of property is this?
    Mixed-use property - Versatile property in Hapeville's Historic District, suitable for various uses.
    Where is this mixed-use property located?
    The property is located at 679 N Central Avenue Hapeville, GA.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Prime location in Hapeville's Historic District with Urban Village zoning, offering diverse residential and commercial possibilities.; Close proximity to parks, restaurants, breweries, coffee shops, cultural attractions, the airport, Porsche HQ, and downtown Atlanta.; Features a 24X24 garage and paved backyard.
    (404) 897-5558
    We can help!
    Listing Contact
    Harry Norman Realtors
    Learn More
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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
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