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    Luxury Garage Units For Sale Title is generated by Realmo AI

    1040 Park Court, Greensboro, GA 30642

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    For Sale
    $275,000

    COMMERCIAL - Greensboro, GA

    Property size:
    1,200 SF
    Lot size:
    0.03 Acres
    Price / SF:
    $229/SF
    Added:
    Jul 1, 2025
    Days on Market:
    319
    Last Refresh:
    May 15 at 8:06 pm

    Property Features for 1040 Park Court

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Fencing
    Fenced
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    056000003B J5
    Size
    1,200 SF
    Lot size
    0.03 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1500

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric, Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    2025
    Flooring type
    Concrete
    Building materials
    Aluminum Siding, Stone
    Roof type
    Metal

    We can help!

    Listing Contact
    Ashley Goodroe
    Ashley Goodroe

    Listing agent Ashley Goodroe License #300836

    Listing office eXp Realty 1372 Peachtree St NE, Atlanta, GA

    Listing date Jul 1, 2025

    MLS# 10557158

    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.

    HighLights

    • Luxury garage units offer flexible space for personal or business storage, hobbies, or recreational use.
    • 1200 SF units with 18‑20.5' ceiling height accommodate large RVs, boats, and other oversized items.
    • Fee‑simple ownership provides a low‑maintenance alternative to renting storage space.
    • Units include essential amenities: HVAC, LED lighting, 125 AMP service, motorized garage door, pedestrian door, and restroom.
    • Customization options available after closing: cabinetry, flooring, mezzanines, and security systems.
    • New construction in a luxury garage development scheduled for completion in 2026.

    Overview

    The Garages at Lake Oconee is a luxury garage development located off Highway 44 in Greensboro, GA. The final phase, scheduled for completion in 2026, will bring the total number of garages to 91. These 1200 square foot units offer a flexible space suitable for various uses, including personal storage or business storage. The units feature ceiling heights ranging from 18 to 20.5 feet, accommodating large RVs, boats, or other storage needs. Customization options are available after closing, including upgrades such as cabinetry, flooring, mezzanines, and security systems. Each unit measures 22 feet by 54.5 feet and includes HVAC, LED industrial lighting, a 125 AMP service panel, a 12' X 14' motorized insulated garage door, a pedestrian door with a transom window, a restroom with a toilet and lavatory, floor drains in the restroom, and an industrial floor sink.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Greensboro
    County
    Greene
    State
    Georgia
    Longitude
    -83.265951
    Latitude
    33.478213

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    FAQs

    What type of property is this?
    Self storage facility - Luxury garage units for personal or business storage.
    Where is this self storage facility located?
    The property is located at 1040 Park Court Greensboro, GA.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: Luxury garage units offer flexible space for personal or business storage, hobbies, or recreational use.; **1200 SF units with 18‑20.5' ceiling height accommodate large RVs, boats, and other oversized items.**; Fee‑simple ownership provides a low‑maintenance alternative to renting storage space.
    (706) 816-1112
    We can help!
    Listing Contact
    Ashley Goodroe
    Ashley Goodroe
    Real Estate License ID: 300836
    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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