Commercial Land with Interstate
For Sale
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105 General Courtney Hodges Boulevard, Perry, GA 31069
C-3-zoned commercial land with existing buildings and water, sewer, and power available on-site.
Property Size22,651 SF
Price / SF$77.26
Days on Market55
Property Features for 105 General Courtney Hodges Boulevard
General Information
Standard status
Active
Size
22,651 SF
Class
B
Property subtype
Retail, Hospitality
Zoning
C-3 (Commercial)
Building Details
Year Built
1972
Units
4
Listing Agency:
The Summit Group
Listed By:
Kevin Harkins · License #GA 297804
Source:
Crexi
Added: Jul 7
Changed: Aug 29
Last Checked: Aug 29 at 5:06PM
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 The Summit Group
Investment Insights
Based on property information with market context.
This commercial land property includes four buildings totaling approximately 22,651 square feet on 4.19 acres. The site carries C-3 (Commercial) zoning, with existing water, sewer, and power available on-site. Improvements date to 1972 and provide an established physical component for future commercial planning.
The property is located at 105 General Courtney Hodges Boulevard in Perry, Georgia, along Interstate 75 with approximately 395 feet of frontage. Access is available from Exit 135, and the corridor records exposure to more than 126,000 vehicles per day. Nearby commercial uses include Walmart Supercenter, Publix, Cracker Barrel, LongHorn Steakhouse, Hampton Inn, and Holiday Inn Express. The Georgia National Fairgrounds & Agricenter is also minutes away and attracts nearly one million visitors annually.
The property is located at 105 General Courtney Hodges Boulevard in Perry, Georgia, along Interstate 75 with approximately 395 feet of frontage. Access is available from Exit 135, and the corridor records exposure to more than 126,000 vehicles per day. Nearby commercial uses include Walmart Supercenter, Publix, Cracker Barrel, LongHorn Steakhouse, Hampton Inn, and Holiday Inn Express. The Georgia National Fairgrounds & Agricenter is also minutes away and attracts nearly one million visitors annually.
Key Highlights
- 4.19‑acre commercial land property with four buildings totaling approximately 22,651 square feet
- C‑3 (Commercial) zoning
- Approximately 395 feet of Interstate 75 frontage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$127,045
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,540,900
$2.5M
Cap Rate 7%
$1,814,929
$1.8M
Cap Rate 9%
$1,411,611
$1.4M
Market Conditions
NOI Build-Up for 22,651 SF
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.
Gross rent
$326.2K $14.40/SF
− Vacancy
−$58.7K −$2.59/SF
EGI
$267.5K $11.81/SF
− OpEx
−$140.4K −$6.20/SF
NOI
$127.0K $5.61/SF
Area
Houston County, GA
Vacancy
18.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,540,900
Cap Rate 7%
$1,814,929
Cap Rate 9%
$1,411,611
Alternative Uses
Best Use
Hotel Hospitality
$1.81M
$1.59M – $2.12M
NOI $127,045 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.89M
$4.28M – $5.70M
NOI $342,222 @ 7.0% cap · market cap 19.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 31069, GA
22,915
Population
9,389
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
94%
High-School Grad
99.8 sq mi
ZIP Area
230
Density / Sq Mi
$75,526
Median Household Income
$48,601
Median Earnings
$997
Median Rent
$205,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - C-3-zoned commercial land with existing buildings and water, sewer, and power available on-site.
Where is this commercial land located?
The property is located at 105 General Courtney Hodges Boulevard Perry, GA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 4.19‑acre commercial land property with four buildings totaling approximately 22,651 square feet; C‑3 (Commercial) zoning; Approximately 395 feet of Interstate 75 frontage
