Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    3423-3709 Covington Dr Decatur, GA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    2,400 SF retail/office space available in Decatur, GA.

    Type:RETAIL
    Property size:
    2,400 SF
    Lot size:
    2.53 Acres
    Added:
    Mar 26, 2025
    Days on Market:
    401
    Last Refresh:
    Apr 5 at 9:53 pm

    Property Features for 3423-3709 Covington Dr

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Lot size
    2.53 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 3423-3709 Covington Dr Contact us

    We can help!

    Listing Contact
    Adam DeWit

    Listing agent Adam DeWit

    Listing office The Quin Group, Inc.

    Listing date Mar 26, 2025

    Source Moodyscre

    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 Quin Group, Inc.

    Overview

    Retail Space in Chelsea's Plaza

    A 2,400 square foot space is available for rent in Chelsea's Plaza, suitable for retail, office, or specialty use. The space is located in between a print shop and a restaurant in Decatur, GA.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    DeKalb
    State
    Georgia
    Longitude
    -84.2486
    Latitude
    33.7611

    Nearby Similar for Lease

    • $5,200/Mo

      Decatur Commercial Building For Lease

      Renovated commercial building suitable for medical or private business.
      4166 Snapfinger Woods Drive, Decatur, GA 30035
      View Details
    • $7,500/Mo

      Renovated Freestanding Commercial Building

      Move-in ready commercial building in Belvedere Park, Decatur.
      1272 Columbia Drive, Decatur, GA 30032
      View Details
    • $7,500/Mo

      Decatur Commercial Building For Rent

      Freestanding commercial building with flexible layout and on-site parking.
      1272 Columbia Drive, Decatur, GA 30032
      View Details
    • $4,500/Mo

      Decatur Commercial Space For Rent

      Commercial space in Decatur, GA, suitable for various businesses.
      4189 Snapfinger Woods Drive, Decatur, GA 30035
      View Details
    • $10,000/Mo

      Downtown Decatur Office Space Available

      Office suites in the heart of Downtown Decatur for rent.
      309 Sycamore Street, Decatur, GA 30030
      View Details
    • $4,000/Mo

      Turn-key Auto Shop Opportunity

      Operating auto shop for lease in high-traffic Decatur corridor.
      6063 Covington Highway, Decatur, GA 30035
      View Details
    • $20,479 SF/Yr

      Decatur Freestanding Two-Story Building

      Freestanding two-story building in Decatur available for long-term lease.
      1434 Scott Boulevard, Decatur, GA 30030
      View Details
    • Sponsored
      Contact for pricing

      One West Court Square

      Court Sq, Unit 750, Decatur, GA 30030
      View Details
    • Contact for pricing

      Clairemont

      160 Clairemont Ave, Unit 200, Decatur, GA 30030
      View Details
    • $31 SF/Yr

      Class A Office Building in Decatur

      Six-story Class A office building with high-end amenities in Decatur.
      160 Clairemont Avenue, Decatur, GA 30030
      View Details
    • Contact for pricing

      Downtown Decatur Restaurant Opportunity

      Unique adaptive reuse restaurant space with large outdoor area.
      240-250 E Trinity Pl, Decatur, GA 30030
      View Details
    • Contact for pricing

      Downtown Decatur Restaurant Opportunity

      Adaptive reuse restaurant/retail space in Downtown Decatur.
      240 E Trinity Pl, Decatur, GA 30030
      View Details

    FAQs

    What type of property is this?
    Retail space - 2,400 SF retail/office space available in Decatur, GA.
    Where is this retail space located?
    The property is located at 3423-3709 Covington Dr Decatur, GA.
    What are key features of this property?
    This property features: 2,400 sq ft available, perfect for your business.; Ideal for retail, office, or specialty use.; Located in Chelseas Plaza.
    (770) 448-3385 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Adam DeWit
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!