Freestanding Restaurant
For Sale
$325,000
115 Elm Street, Lincolnton, GA 30817
Commercial Sale, Lincolnton, GA
Property Size1,952 SF
Lot Size0.52 Acres
Price / SF$166.50
Days on Market24
Property Features for 115 Elm Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Subdivision
Not In Subdivision
Directions
The property is at the center of Lincolnton at the intersection of Hwy 378 and Hwy 47
Standard status
Active
APN
L05 213
Size
1,952 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
316; 208
Tax Annual Amount
2295
Legal Description
316; 208
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
3 sided dumpster location
out-of-view grease dump location
new tankless water heater
Building Details
Year built
1995
Listing Agency:
Gold Oak Real Estate, LLC
(706) 833-5313
Listed By:
Sandy J. Butler · License #341065
(706) 833-5313
Added: Jul 28
Changed: Aug 19
Last Checked: Aug 20 at 3:06AM
MLS# 100592530
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding restaurant property at 115 Elm Street includes 1,952 square feet on a 0.52-acre parcel. The 1995 building has seating for approximately 45 guests, public water and public sewer, and a layout supported by restaurant infrastructure. Recent improvements include Low-E windows, refreshed bathrooms, updated plumbing fixtures, a new roof HVAC, a tankless water heater, and insulated glass along the Hwy 378 side. The site also includes inground grease traps, a screened three-sided dumpster area, and an out-of-view grease disposal location.
The property sits at the intersection of Hwy 47 and Hwy 378 in Lincolnton, Georgia, along a corridor serving Lake Thurmond/Clarks Hill Lake. On-site parking includes 30 designated spaces, while roadside signage includes a 50+/- sign with marquee. C-1 zoning and the existing restaurant configuration support continued food-service use.
The property sits at the intersection of Hwy 47 and Hwy 378 in Lincolnton, Georgia, along a corridor serving Lake Thurmond/Clarks Hill Lake. On-site parking includes 30 designated spaces, while roadside signage includes a 50+/- sign with marquee. C-1 zoning and the existing restaurant configuration support continued food-service use.
Key Highlights
- 1,952‑square‑foot freestanding restaurant building on 0.52 acres
- Seating for approximately 45 guests with 30 designated parking spaces
- Located at the intersection of Hwy 47 and Hwy 378
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
$22,935
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
7.06%
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%
$458,700
$458.7K
Cap Rate 7%
$327,643
$327.6K
Cap Rate 9%
$254,833
$254.8K
Market Conditions
NOI Build-Up for 1,952 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
$32.3K $16.56/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$30.6K $15.67/SF
− OpEx
−$7.6K −$3.92/SF
NOI
$22.9K $11.75/SF
Area
Lincoln County, GA
Vacancy
5.40%
Lease Rate
$16.56 /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%
$458,700
Cap Rate 7%
$327,643
Cap Rate 9%
$254,833
Alternative Uses
Best Use
Specialty Retail
$327.6K
$286.7K – $382.3K
NOI $22,935 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$616.1K
$539.1K – $718.8K
NOI $43,129 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30817, GA
7,364
Population
4,197
Households
1.8
Avg Household Size
48
Median Age
16%
College-Educated
87%
High-School Grad
191.2 sq mi
ZIP Area
39
Density / Sq Mi
$49,658
Median Household Income
$32,913
Median Earnings
$736
Median Rent
$169,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - C-1 restaurant property with refreshed building systems, public utilities, and highway-oriented access.
Where is this conventional restaurant located?
The property is located at 115 Elm Street Lincolnton, GA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,952‑square‑foot freestanding restaurant building on 0.52 acres; Seating for approximately 45 guests with 30 designated parking spaces; Located at the intersection of Hwy 47 and Hwy 378
