Equipped Restaurant
For Sale
Contact for pricing
107 Perimeter Rd, Perry, GA 31069
C-2 zoning and a built-out kitchen, dining area, and service counter support restaurant operations.
Property Size2,754 SF
Lot Size0.59 Acres
Price / SF$236.02
Days on Market148
Property Features for 107 Perimeter Rd
General Information
Standard status
Active
Size
2,754 SF
Lot size
0.59 Acres
Property subtype
Retail, Special Purpose
Zoning
C-2 (Commercial)
Occupancy
100%
Site & Location
Frontage
125 ft
Traffic Count
7,460 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1994
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
The Summit Group
(478) 750-7507
Listed By:
Derek Foster · License #GA 373500
Source:
Crexi
Added: Apr 6
Changed: Aug 29
Last Checked: Aug 31 at 12:39AM
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 2,754-square-foot restaurant property occupies approximately 0.59 acres and includes a kitchen, dining area, and service counter. The building was constructed in 1994 and is configured for restaurant use, with potential for drive-up service. Georgia Bob’s BBQ operates at the property.
Located at 107 Perimeter Road in Perry, Georgia, the site offers approximately 125 feet of road frontage and is a short distance from I-75. Reported traffic volumes are approximately 7,460 vehicles per day on Perimeter Road and 11,300 vehicles per day on Sam Nunn Boulevard. The property carries C-2 (Commercial) zoning.
Located at 107 Perimeter Road in Perry, Georgia, the site offers approximately 125 feet of road frontage and is a short distance from I-75. Reported traffic volumes are approximately 7,460 vehicles per day on Perimeter Road and 11,300 vehicles per day on Sam Nunn Boulevard. The property carries C-2 (Commercial) zoning.
Key Highlights
- 2,754 SF restaurant building on approximately 0.59 acres
- Approximately 125 feet of frontage along Perimeter Road
- Kitchen, dining area, and service counter in place
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
$28,814
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
4.43%
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%
$576,280
$576.3K
Cap Rate 7%
$411,629
$411.6K
Cap Rate 9%
$320,156
$320.2K
Market Conditions
NOI Build-Up for 2,754 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
$41.3K $15.00/SF
− Vacancy
−$2.9K −$1.05/SF
EGI
$38.4K $13.95/SF
− OpEx
−$9.6K −$3.49/SF
NOI
$28.8K $10.46/SF
Area
Houston County, GA
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$576,280
Cap Rate 7%
$411,629
Cap Rate 9%
$320,156
Alternative Uses
Best Use
Specialty Retail
$411.6K
$360.2K – $480.2K
NOI $28,814 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$594.4K
$520.1K – $693.5K
NOI $41,609 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7,460 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
464k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Superstores 20%
Shops & Services 19%
Apparel 8%
Walmart
Superstores
90,735 visits/mo
0.3 miles
Kroger
Groceries
35,350 visits/mo
0.1 miles
McDonald's
Dining
28,194 visits/mo
0.1 miles
Circle K
Shops & Services
27,371 visits/mo
0.2 miles
LongHorn Steakhouse
Dining
21,750 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - C-2 zoning and a built-out kitchen, dining area, and service counter support restaurant operations.
Where is this conventional restaurant located?
The property is located at 107 Perimeter Rd Perry, GA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,754 SF restaurant building on approximately 0.59 acres; Approximately 125 feet of frontage along Perimeter Road; Kitchen, dining area, and service counter in place
