Commercial Land With Existing
For Sale
$199,000
122 Northeast Street E, Monticello, GA 31064
Commercial Sale, Monticello, GA
Property Size548 SF
Lot Size1.58 Acres
Price / SF$363.14
Days on Market65
Property Features for 122 Northeast Street E
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
Level
Directions
Use GPS to navigate to 122 Northeast St E
Standard status
Active
APN
M03 115
Size
548 SF
Lot size
1.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
645
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1955
Building materials
Aluminum Siding
Listing Agency:
Georgia Premier RE Advisors
(706) 363-0099
Listed By:
Matthew L Smith · License #334905
(706) 340-4724
Added: Jul 24
Changed: Aug 19
Last Checked: Sep 26 at 4:06PM
MLS# 10820735
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.
Investment Insights
Based on property information with market context.
This 1.58 +/- acre commercial land offering includes a 548-square-foot building that is operating as a beauty salon. The structure was built in 1955 and features aluminum siding, central air, and a parking lot. Its existing commercial use is grandfathered within R-20 residential zoning, allowing the salon or a similar use to continue subject to confirmation with the City of Monticello.
The property is served by public water and public sewer, with cable available. Based on the parcel size and zoning, the site may support as many as three residential lots, subject to City approval and applicable subdivision requirements. The property is located in Monticello, Georgia.
The property is served by public water and public sewer, with cable available. Based on the parcel size and zoning, the site may support as many as three residential lots, subject to City approval and applicable subdivision requirements. The property is located in Monticello, Georgia.
Key Highlights
- 1.58 +/- acre parcel in Monticello, GA
- 548‑square‑foot building operating as a beauty salon
- R‑20 residential zoning with grandfathered commercial use
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
$7,708
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
3.87%
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%
$154,160
$154.2K
Cap Rate 7%
$110,114
$110.1K
Cap Rate 9%
$85,644
$85.6K
Market Conditions
NOI Build-Up for 548 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
$12.0K $21.96/SF
− Vacancy
−$1.0K −$1.87/SF
EGI
$11.0K $20.09/SF
− OpEx
−$3.3K −$6.03/SF
NOI
$7.7K $14.07/SF
Area
Jasper County, GA
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$154,160
Cap Rate 7%
$110,114
Cap Rate 9%
$85,644
Alternative Uses
Best Use
Retail
$110.1K
$96.4K – $128.5K
NOI $7,708 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$153.2K
$134.0K – $178.7K
NOI $10,723 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Explore this area
Business Placement
Demographics for 31064, GA
9,880
Population
4,264
Households
2.3
Avg Household Size
41
Median Age
23%
College-Educated
91%
High-School Grad
245.7 sq mi
ZIP Area
40
Density / Sq Mi
$56,961
Median Household Income
$37,557
Median Earnings
$1,020
Median Rent
$223,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - R-20-zoned parcel with an existing building, public water and sewer, and grandfathered commercial use.
Where is this commercial land located?
The property is located at 122 Northeast Street E Monticello, GA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 1.58 +/- acre parcel in Monticello, GA; 548‑square‑foot building operating as a beauty salon; R‑20 residential zoning with grandfathered commercial use
