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    Former Restaurant Ready For Lease Title is generated by Realmo AI

    1197 Lakes Boulevard, Lake Park, GA 31636

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    COMMERCIAL - Lake Park, GA

    Type:Retail
    Property size:
    4,320 SF
    Added:
    Jun 12, 2025
    Days on Market:
    345
    Last Refresh:
    May 22 at 5:06 pm

    Property Features for 1197 Lakes Boulevard

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Zoning
    C-C
    Standard status
    Active
    APN
    0198 146
    Size
    4,320 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    SR HWY 376
    Tax Annual Amount
    13395

    Building Details

    Year built
    2011
    Floors in Building
    1

    We can help!

    Listing Contact
    The Jason Dove Team
    The Jason Dove Team

    Listing agent The Jason Dove Team

    Listing office Dove Realty, Inc. 106 W. North St., Valdosta, GA

    Listing date Jun 12, 2025

    MLS# 145238

    Copyright © 2026 South Georgia MLS (Valdosta). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turn‑key restaurant reuse with minimal cosmetic updates needed.
    • Strategically located off Interstate 75 (50,000+ vehicles daily) and visible from Lakes Boulevard (11,400 ADT).
    • Includes existing grease traps, water filtration system, interior fire suppression sprinklers, and walk‑in coolers.
    • Features an indoor playground and outdoor dining area.
    • Infrastructure in place to support a second drive‑thru window.
    • Offers ample parking with 53 standard spaces and 4 oversized bus/RV spaces.

    Overview

    This former Chick-fil-A restaurant is available for lease and strategically located off Interstate 75, which experiences over 50,000 vehicles daily. Visible from Lakes Boulevard, with an additional 11,400 average daily traffic count, this property offers a rare opportunity to occupy a second-generation quick-service restaurant site in a rapidly growing corridor of South Georgia. The property, located in Lake Park, GA, includes 53 standard parking spaces and 4 oversized bus or RV spaces. The 4,320 square foot building features an indoor playground structure, an outdoor dining area, existing grease traps, a water filtration system, and interior fire suppression sprinklers. Inside, there is a large exhaust hood, a built-in speaker system, and infrastructure to support a second drive-thru window. Walk-in coolers remain, and there are two block-walled dumpster enclosures. A detached storage building measuring 18'x18' comes with its own dedicated wall-unit air conditioning. With only minimal cosmetic updates needed, such as paint and branding, this property is virtually turn-key for restaurant reuse. It is an excellent opportunity for franchise expansion, fast-casual or quick-service restaurant concepts, or any multi-unit operator seeking a prime flagship location. The zoning is C-C.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Park
    County
    Lowndes
    State
    Georgia
    Longitude
    -83.220928
    Latitude
    30.68129

    FAQs

    What type of property is this?
    Drive through restaurant - Turn-key restaurant opportunity in a high-traffic location.
    Where is this drive through restaurant located?
    The property is located at 1197 Lakes Boulevard Lake Park, GA.
    What are key features of this property?
    This property features: Turn‑key restaurant reuse with minimal cosmetic updates needed.; Strategically located off Interstate 75 (50,000+ vehicles daily) and visible from Lakes Boulevard (11,400 ADT).; Includes existing grease traps, water filtration system, interior fire suppression sprinklers, and walk‑in coolers.
    (229) 740-6474
    We can help!
    Listing Contact
    The Jason Dove Team
    The Jason Dove Team
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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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