Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Lot in Gated Community Title is generated by Realmo AI

    Lot 1198 Lancer Court, Ellijay, GA 30540

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    Contact for pricing

    Vacant Lot - Ellijay, GA

    Lot size:
    0.50 Acres
    Added:
    May 26, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 3 at 11:06 am

    Property Features for Lot 1198 Lancer Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    3037F 050
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Expense value
    1050
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Iris Davis
    Iris Davis

    Listing agent Iris Davis

    Listing office Woodland Realty 62 Mountain View Drive, Ellijay, GA

    Listing date May 26, 2026

    MLS# 413518 Listing URL

    Copyright © 2026 Northeast Georgia Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Access to extensive Coosawattee River Resort amenities: multiple pools, fitness center, sports courts, parks, trails, river access, clubhouse, game room, and year‑round events.
    • Located in the gated Coosawattee River Resort, providing security and exclusivity.
    • Sloping lot ideal for a basement‑style home with potential mountain views.
    • Private, low‑traffic location in a cul‑de‑sac with easy access to a paved road.
    • Suitable for full‑time residence, second home, or investment property.
    • Close proximity to downtown Ellijay's dining, shopping, and wineries.

    Overview

    Located within the gated Coosawattee River Resort community, this sloping lot presents an opportunity to construct a North Georgia mountain home with a mountain view. Situated a short distance from a paved road in a cul-de-sac, the property offers a private, low-traffic environment with convenient access. The lot's natural downward slope from the road makes it suitable for a basement-style home, allowing for maximized living space and views of the wooded landscape. This lot is suitable for a full-time residence, second home, or investment property. Ownership in Coosawattee River Resort includes access to multiple pools, a fitness center, tennis and basketball courts, parks, walking trails, and river access for kayaking and fishing. The community also provides a clubhouse, game room, and year-round events. The location is a short drive from downtown Ellijay's dining, shopping, and wineries.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Spa & Massage Center Big Box & Wholesale Store Food Market Hotel & Motel Pet Store Carpet & Flooring Store Travel Agency Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Ellijay
    County
    Gilmer
    State
    Georgia
    Longitude
    -84.561107
    Latitude
    34.658829

    Nearby Similar for Sale

    • $589,000
      9,624 SF

      Income-Producing Commercial Property in Ellijay

      Three buildings, four tenants, high-traffic location in Gilmer County.
      731 Progress Road, Ellijay, GA 30540
      View Details
    • $1,400,000
      12,096 SF

      Ellijay Commercial Campus Opportunity

      Multi-use 7.61-acre commercial campus with highway access and ample parking.
      7288 Highway 515 N, Ellijay, GA 30536
      View Details
    • $625,000
      3,766 SF

      Ellijay Commercial Building Value-Add Opportunity

      Downtown Ellijay commercial building ready for redevelopment in high-traffic corridor.
      45 Main Street, Ellijay, GA 30540
      View Details
    • $949,000
      1,248 SF

      Mixed-Use Commercial Building with Warehouse

      Fully updated 3-story building with showroom-ready main level and lockoff lower suite plus a large warehouse.
      243 S Old Highway 5, Ellijay, GA 30540
      View Details
    • $949,000

      Updated Commercial Property on Highway

      Commercial property in Ellijay with showroom, office, and warehouse.
      243 OLD HIGHWAY 5, Ellijay, GA 30540
      View Details
    • $1,625,000
      1,920 SF

      Downtown Ellijay Commercial Opportunity

      Renovated commercial building with alcohol sales approval in downtown Ellijay.
      28 Main Street, Ellijay, GA 30540
      View Details
    • $1,625,000
      1,920 SF

      Downtown Ellijay Commercial Opportunity

      Renovated commercial building with alcohol sales approval in downtown Ellijay.
      28 N Main Street, Ellijay, GA 30540
      View Details
    • $1,199,900
      7,140 SF

      Turn-Key Commercial Opportunity in Ellijay

      7,140 SF mixed-use property with multiple revenue streams.
      33 Rose Petal Lane, Ellijay, GA 30540
      View Details
    • $1,199,900
      7,140 SF

      Turn-Key Commercial Opportunity in Ellijay

      Versatile commercial property with multiple revenue streams and endless possibilities.
      33 Rose Petal Lane, Ellijay, GA 30540
      View Details
    • $589,000

      Multi-Building Industrial Property

      Three attached buildings offer warehouse and service garage space with multiple tenants on a C1-zoned site.
      731 Progress Road, Ellijay, GA 30540
      View Details
    • $1,250,000
      9,128 SF

      Prime Commercial Space on Hwy 515

      High-visibility commercial building with development potential in Ellijay, GA.
      36 Mulberry Street, Ellijay, GA 30540
      View Details
    • $1,549,000
      1,500 SF

      Vineyard and Winery with Tasting Room

      Established vineyard and winery property with a tasting room, covered patio, and event-ready outdoor music space.
      2317 Hwy 382, Ellijay, GA 30540
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Sloping lot in Coosawattee River Resort with mountain view.
    Where is this residential land & home lot located?
    The property is located at Lot 1198 Lancer Court Ellijay, GA.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Access to extensive Coosawattee River Resort amenities: multiple pools, fitness center, sports courts, parks, trails, river access, clubhouse, game room, and year‑round events.; Located in the gated Coosawattee River Resort, providing security and exclusivity.; Sloping lot ideal for a basement‑style home with potential mountain views.
    (706) 273-9191
    We can help!
    Listing Contact
    Iris Davis
    Iris Davis
    Real Estate License ID: 174170
    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

    Thank You for Inquiry
    Lot 1198 Lancer Court, Ellijay, GA 30540
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!