Mixed-Use Property with Commercial
For Sale
$449,000
1222 & 1224 New Franklin Road, Lagrange, GA 30240
The site combines a residence and a masonry-block building currently operated as a car lot.
Property Size3,424 SF
Lot Size2.20 Acres
Price / SF$131.13
Days on Market177
Property Features for 1222 & 1224 New Franklin Road
General Information
Standard status
Active
Size
3,424 SF
Lot size
2.20 Acres
Property subtype
Commercial
Zoning
01-LC
Additional Details
Road Access
Yes
Land Use
commercial, residential
Automotive Uses
dealership/vehicle sales
Real Estate Included
Yes
Taxes and HOA fees
Annual Taxes
$2,614
Building Details
Building Size
3,424 SF
Year Built
1940
Buildings
2
Listed By:
Debbie Conner Smith
(770) 464-0897
Source:
Connersmithrealty
Added: May 1
Changed: Oct 23
Last Checked: Oct 23 at 5:13PM
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 Debbie Conner Smith
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Investment Insights
Based on property information with market context.
A 2.2-acre mixed-use property includes a 1,984-square-foot single-family residence and a 1,440-square-foot masonry-block commercial building. The commercial space is currently used as a car lot. The property carries 01-LC zoning, and both buildings are located on the same site.
New Franklin Road records traffic counts over 11,000 per day, while N. Davis Road records 6,500 per day. Walmart is 0.8 miles away, ALDI is 1.3 miles away, and Franklin Forest Elementary School is 0.4 miles away. North Davis Road and West Point Lake are also identified as nearby destinations.
New Franklin Road records traffic counts over 11,000 per day, while N. Davis Road records 6,500 per day. Walmart is 0.8 miles away, ALDI is 1.3 miles away, and Franklin Forest Elementary School is 0.4 miles away. North Davis Road and West Point Lake are also identified as nearby destinations.
Key Highlights
- 2.2‑acre property with a 1,984‑square‑foot residence and a 1,440‑square‑foot commercial building
- Masonry‑block commercial building currently used as a car lot
- 01‑LC zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,438
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,760
$708.8K
Cap Rate 7%
$506,257
$506.3K
Cap Rate 9%
$393,756
$393.8K
Market Conditions
NOI Build-Up for 3,424 SF
Gross rent
$61.6K $18.00/SF
− Vacancy
−$4.9K −$1.44/SF
EGI
$56.7K $16.56/SF
− OpEx
−$21.3K −$6.21/SF
NOI
$35.4K $10.35/SF
Area
Troup County, GA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,760
Cap Rate 7%
$506,257
Cap Rate 9%
$393,756
Alternative Uses
Best Use
Retail
$595.8K
$521.3K – $695.1K
NOI $41,707 @ 7.0% cap · market cap 9.29%
Second Best
Mixed Use
$506.3K
$443.0K – $590.6K
NOI $35,438 @ 7.0% cap · market cap 7.89%
Theoretical Best
Office A
$766.1K
$670.4K – $893.8K
NOI $53,629 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
7,629 visits/mo
0.4 miles
Demographics for 30240, GA
30,119
Population
12,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
139.6 sq mi
ZIP Area
216
Density / Sq Mi
$59,521
Median Household Income
$40,611
Median Earnings
$1,035
Median Rent
$221,800
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - The site combines a residence and a masonry-block building currently operated as a car lot.
Where is this mixed-use property located?
The property is located at 1222 & 1224 New Franklin Road Lagrange, GA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2.2‑acre property with a 1,984‑square‑foot residence and a 1,440‑square‑foot commercial building; Masonry‑block commercial building currently used as a car lot; 01‑LC zoning
