Commercial Corner Redevelopment
For Sale
$495,000
10533 Flat Shoals Rd, Covington, GA
Nearly two-acre corner tract with flat topography, extensive frontage, and utilities for commercial or retail redevelopment.
Property Size1,456 SF
Price / SF$339.97
Days on Market89
Property Features for 10533 Flat Shoals Rd
General Information
Standard status
Active
Size
1,456 SF
Listing Agency:
Georgia Premier RE Advisors
(706) 340-4724
Listed By:
Matthew L Smith
(706) 340-4724
Source:
Exprealty
Added: May 4
Changed: Jul 10
Last Checked: Jul 31 at 4:07PM
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 Georgia Premier RE Advisors
Investment Insights
Based on property information with market context.
This 1.898-acre commercial redevelopment opportunity is positioned on a hard corner of Flat Shoals Road and Covington Bypass. The property offers approximately 200 feet of frontage along Flat Shoals Road and more than 400 feet of frontage on Covington Bypass, with surveyed documentation and relatively flat topography that can support efficient future development planning. An existing home on the site provides an additional path for adaptive reuse as office or commercial space, or the improvements can be removed to accommodate a new build. All utilities are available on site.
The tract sits at a fully signalized intersection, creating strong traffic exposure from multiple directions. With substantial frontage on both roads, the site is well-suited for concepts that benefit from street-level visibility.
While the property is currently zoned residential, it is being offered as a redevelopment canvas for commercial or retail uses subject to rezoning and local approvals. For buyers and developers evaluating corner-site options, the combination of measured frontage, flat terrain, available utilities, and flexible reuse versus redevelopment may simplify early planning and site design decisions.
The tract sits at a fully signalized intersection, creating strong traffic exposure from multiple directions. With substantial frontage on both roads, the site is well-suited for concepts that benefit from street-level visibility.
While the property is currently zoned residential, it is being offered as a redevelopment canvas for commercial or retail uses subject to rezoning and local approvals. For buyers and developers evaluating corner-site options, the combination of measured frontage, flat terrain, available utilities, and flexible reuse versus redevelopment may simplify early planning and site design decisions.
Key Highlights
- 1.898‑acre commercial redevelopment tract on the hard corner of Flat Shoals Rd and Covington Bypass in Covington, GA
- ~200 ft frontage on Flat Shoals Rd and 400+ ft frontage on Covington Bypass at a fully signalized intersection
- Recently surveyed site with relatively flat topography for efficient future development
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.8k | $23.87 |
| − Vacancy | −$8.8k | −$6.02 |
| EGI | $26.0k | $17.85 |
| − OpEx | −$6.5k | −$4.46 |
| NOI | $19.5k | $13.39 |
1,456 SF · lease $23.87/SF/yr · vacancy 25.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$278.5K
$243.7K – $325.0K
NOI $19,497 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$407.0K
$356.1K – $474.9K
NOI $28,491 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Nearly two-acre corner tract with flat topography, extensive frontage, and utilities for commercial or retail redevelopment.
Where is this commercial land located?
The property is located at 10533 Flat Shoals Rd Covington, GA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1.898‑acre commercial redevelopment tract on the hard corner of Flat Shoals Rd and Covington Bypass in Covington, GA; ~200 ft frontage on Flat Shoals Rd and 400+ ft frontage on Covington Bypass at a fully signalized intersection; Recently surveyed site with relatively flat topography for efficient future development
