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    Louisville Storefront with Income Potential Title is generated by Realmo AI

    122 E Broad Street, Louisville, GA 30434

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    Claim this Listing
    For Sale
    $85,000

    COMMERCIAL - Louisville, GA

    Type:Office
    Property size:
    5,960 SF
    Lot size:
    0.18 Acres
    Price / SF:
    $14/SF
    Added:
    Feb 21, 2025
    Days on Market:
    452
    Last Refresh:
    May 19 at 7:06 pm

    Property Features for 122 E Broad Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Parking features
    Parking Lot, On Street
    Window features
    Display Window(s)
    Standard status
    Active
    APN
    L001 223
    Size
    5,960 SF
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Year
    23
    Tax Annual Amount
    948

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1912
    Flooring type
    Tile, Hardwood, Laminate, Carpet
    Building materials
    Brick, Stone

    We can help!

    Listing Contact
    Jonathan Minerick
    Jonathan Minerick

    Listing agent Jonathan Minerick License #01523060

    Listing office Homecoin.com 600 B St., Ste 300, San Diego, GA

    Listing date Feb 21, 2025

    MLS# 10464822

    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

    • Income‑producing storefront property in downtown Louisville, GA.
    • Significant potential to remodel the vacant upstairs into 5 one‑bedroom studio apartments.
    • Substantial square footage: Restaurant (1040 sq ft), Office (1520 sq ft), Upstairs (Approx. 3400 sq ft).
    • Constructed with durable brick and stone materials.
    • Includes central heating (Natural Gas) and central air conditioning.
    • Offers parking options with both a parking lot and on‑street parking.

    Overview

    This income-producing storefront is located in downtown Louisville, Georgia. The property includes a 1040-square-foot restaurant space, a 1520-square-foot office space, and an approximately 3400-square-foot upstairs area that is currently vacant. The upstairs has the potential to be remodeled into five one-bedroom studio apartments. The property sustained some water damage and may have some mold or mildew present. The roof was damaged in Hurricane Helene but has since been repaired. The building is being sold in as-is condition. The lot size is 0.18 acres and the total property size is 5960 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Delightful Designs by Gwen — 140 W Broad St, Louisville, GA 30434
    • Randi's Flowers & Gifts — 101 W Broad St, Louisville, GA 30434

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Georgia
    Longitude
    -82.409783
    Latitude
    32.9997942

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    • $130,000
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    FAQs

    What type of property is this?
    Storefront property - Income-producing storefront with potential for apartments in downtown Louisville, GA.
    Where is this storefront property located?
    The property is located at 122 E Broad Street Louisville, GA.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: Income‑producing storefront property in downtown Louisville, GA.; Significant potential to remodel the vacant upstairs into 5 one‑bedroom studio apartments.; Substantial square footage: **Restaurant (1040 sq ft), Office (1520 sq ft), Upstairs (Approx. 3400 sq ft).**
    (888) 400-2513
    We can help!
    Listing Contact
    Jonathan Minerick
    Jonathan Minerick
    Real Estate License ID: 01523060
    Learn More
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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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