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    Two-Lot Mixed-Use Development Site Title is generated by Realmo AI

    1137 Old Covington Highway SE, Conyers, GA 30012

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    For Sale
    $300,000

    COMMERCIAL - Conyers, GA

    Lot size:
    0.74 Acres
    Added:
    Feb 20, 2026
    Days on Market:
    105
    Last Refresh:
    Jun 5 at 7:06 pm

    Property Features for 1137 Old Covington Highway SE

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Fencing
    Chain Link
    Standard status
    Active
    APN
    C290030006
    Lot size
    0.74 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    752

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Charles Dyer

    Listing agent Charles Dyer License #372888

    Listing office Dwayne Walker Realty 1354 Northside Dr NW, Conyers, GA

    Listing date Feb 20, 2026

    MLS# 10696211

    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

    • Two adjoining commercial lots sold together for expanded development potential (adjacent lot Parcel No. C290030007)
    • Both lots are zoned MxD (mixed‑use development) and cleared of any structures
    • Each lot has its own curb cut for convenient access
    • Cleared and mostly flat topography with slight slope for natural drainage
    • Utilities include public water and public sewer; cable is available (buyer to verify other utilities nearby)
    • Fencing: chain link; utilities available include cable and connection to public water and public sewer

    Overview

    This offering includes two adjoining commercial lots being sold together, cleared of structures and set up for development. The lots are described as mostly flat with slight slope for drainage, and each lot has its own curb cut for access. The property is presented as a mixed-use development site under MxD zoning, which supports a range of income-producing uses such as multi-family residential, retail, and office or professional space.

    The parcels are located in Conyers, Georgia, with convenient access to Interstate 20 and being just minutes from the shopping, dining, and entertainment of Old Town Conyers, according to the public remarks. The listing also notes strong visibility and excellent road frontage along the corridor. Lot being sold along with adjacent lot Parcel Number C290030007.

    For tenants, buyers, and developers, the practical value here is the combination of flexible MxD zoning and a site configuration that allows separate vehicle access points. With both lots cleared and prepared for construction, the property may fit plans requiring multiple buildable areas or phased development. Utilities are stated as available nearby, with the buyer to verify. Prospective buyers are encouraged to review zoning information and details and coordinate a site visit through the listing office.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Conyers
    County
    Rockdale
    State
    Georgia
    Longitude
    -84.010039
    Latitude
    33.657096

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    FAQs

    What type of property is this?
    Commercial land - Cleared, mostly flat commercial land with MxD zoning and separate curb cuts for convenient access and flexible development planning.
    Where is this commercial land located?
    The property is located at 1137 Old Covington Highway SE Conyers, GA.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: Two adjoining commercial lots sold together for expanded development potential (adjacent lot Parcel No. C290030007); Both lots are zoned MxD (mixed‑use development) and cleared of any structures; Each lot has its own curb cut for convenient access
    (770) 679-9172
    We can help!
    Listing Contact
    Charles Dyer
    Real Estate License ID: 372888
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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.

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    1137 Old Covington Highway SE, Conyers, GA 30012
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