Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land For Sale Title is generated by Realmo AI

    303 Griffin Avenue, Eastman, GA 31023

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $75,000

    Commercial land available for sale.

    Type:General Commercial
    Added:
    Feb 22, 2021
    Days on Market:
    1916
    Last Refresh:
    May 13 at 8:26 pm

    Property Features for 303 Griffin Avenue

    General Information

    Standard status
    Active
    Property subtype
    General Commercial

    We can help!

    Listing Contact
    Isaac Faulk

    Listing agent Isaac Faulk

    Listing office NORRIS BISHOP REALTY

    Listing date Feb 22, 2021

    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 NORRIS BISHOP REALTY

    HighLights

    • Commercial land available for sale.
    • 20 Parking Spaces available.
    • Level Topography.
    • Level Additional Exterior/Lot Features.
    • Heating: 3.
    • No Cooling.

    Overview

    Commercial land is available for sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Eastman
    County
    Dodge
    State
    Georgia
    Longitude
    -83.176448
    Latitude
    32.190728

    Nearby Similar for Sale

    • $150,000
      1,827 SF

      Remodeled Store Near Aviation School

      Remodeled commercial store near Middle Georgia State University Aviation School.
      839 Soperton Highway, Eastman, GA 31023
      View Details
    • $1,800,000
      2,770 SF

      725 Acre Georgia Recreational Investment

      Premier recreational and investment property with diverse income potential.
      0 Rhine Highway, Eastman, GA 31023
      View Details
    • $1,699,000
      7,500 SF

      Eastman, Georgia Retreat and Lodging

      Serene 39-acre retreat with furnished homes and established rental business.
      104 Bethel Village Road, Eastman, GA 31023
      View Details
    • $1,699,000
      7,440 SF

      Serene Eastman Retreat and Lodging

      Thriving short-term rental and spiritual retreat destination on 39 acres.
      104 Bethel Village Road, Eastman, GA 31023
      View Details
    • $285,000
      6,800 SF

      Eastman, GA Commercial Opportunity

      6,800 SF commercial building on 14.82 acres.
      805 Main Street, Eastman, GA 31023
      View Details
    • $1,699,000

      Eastman, GA Retreat and Lodging

      Serene 39-acre retreat with four furnished homes and amenities.
      104 Bethel Village Road, Eastman, GA 31023
      View Details
    • $399,000
      3,152 SF

      Eastman Restaurant Opportunity For Sale

      Established restaurant space in Eastman, Georgia, with equipment included.
      1027 College St, Eastman, GA, 31023-6775
      View Details
    • $495,000

      91-Acre Dodge County Land Tract

      91.113-acre wooded tract near Eastman, GA, suitable for recreation.
      Golf Course Road lot: 7, Eastman, GA 31023
      View Details
    • $50,000
      3,160 SF

      Eastman Restaurant/Retail Building with Drive-Thru

      Vacant restaurant/retail building with drive-thru on 1.191-acre parcel.
      6121 Oak St, Eastman, GA 31023
      View Details
    • $45,000

      Wooded Homesite near Eastman, Georgia

      Wooded 4.82-acre homesite with paved road frontage near Eastman, GA.
      Golf Course Road lot: 6, Eastman, GA 31023
      View Details
    • $516,890

      93.98 Acres Vacant Land

      93.98 acres in Dodge County, Georgia with merchantable timber.
      0 Smith Rd., Eastman, GA 31023
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land available for sale.
    Where is this commercial land located?
    The property is located at 303 Griffin Avenue Eastman, GA.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: Commercial land available for sale.; 20 Parking Spaces available.; Level Topography.
    We can help!
    Listing Contact
    Isaac Faulk
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    303 Griffin Avenue, Eastman, GA 31023
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!