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    Renovated Retail Building in Blue Ridge Title is generated by Realmo AI

    10091 Blue Ridge Drive, Blue Ridge, GA 30513

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    Claim this Listing
    For Sale
    $3,675,000

    Multi-tenant retail building with investment or owner/user potential.

    Type:Commercial
    Property size:
    9,200 SF
    Lot size:
    1.10 Acres
    Price / SF:
    $399/SF
    Added:
    Jan 6, 2025
    Days on Market:
    510
    Last Refresh:
    May 10 at 11:21 pm

    Property Features for 10091 Blue Ridge Drive

    General Information

    Standard status
    Active
    Size
    9,200 SF
    Lot size
    1.10 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    GARY MILLS

    Listing agent GARY MILLS

    Listing office HARRY NORMAN REALTORS - EAST COBB

    Listing date Jan 6, 2025

    Source Corcoran

    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 HARRY NORMAN REALTORS - EAST COBB

    HighLights

    • Prime location at the biggest intersection in Blue Ridge, GA.
    • Assumable Seller Financing available.
    • New Publix Retail Center planned for 2026 on the adjoining parcel.
    • Completely renovated and updated in 2023 with new HVAC, electrical, plumbing, fixtures, flooring, windows and entry.
    • 9,200 sf multi‑tenant retail building on 1.2 acres with two 3,500 sf retail storefronts and 2,200 sf office/retail space.
    • Sale includes apparel store with fixtures, furniture and inventory.

    Overview

    Located at a major intersection in Blue Ridge, GA, this property features a 9,200 square foot multi-tenant retail building on 1.2 acres. Formerly a movie theatre, the building was completely renovated and updated in 2023, including new HVAC systems, electrical, plumbing, fixtures, flooring, windows, and entry. The interior design incorporates a stone fireplace and heavy timber beams. The property offers two 3,500 square foot retail storefronts on the ground level and a 2,200 square foot office/retail space on the second level. The sale includes an apparel store with fixtures, furniture, and inventory in Suite A. Suite B is occupied by an outdoor and firearms store operating under a new lease. The second-floor Suite C is currently vacant and suited for professionals, attorneys, financial service providers, or small businesses. Convenient access is available from Hwy 515 or Blue Ridge Dr. A new Publix Retail Center is planned to open in 2026 on the adjoining parcel. A major redesign of the intersection by GA DOT is planned for 2025, which will improve access to the property.
    Property Profile Location Intelligence

    Current Use by Public Records

    TBR Supply House Clothing Store ARAC - Roof It ... Roofing Company

    Suggested Use

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

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

    Similar Places Nearby

    • Silks for Less — 3423 E 1st St, Blue Ridge, GA 30513

    Location Insight

    • Map
    • Local Demand
    City
    Blue Ridge
    County
    Fannin
    State
    Georgia
    Longitude
    -84.3206
    Latitude
    34.8774

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    FAQs

    What type of property is this?
    Storefront property - Multi-tenant retail building with investment or owner/user potential.
    Where is this storefront property located?
    The property is located at 10091 Blue Ridge Drive Blue Ridge, GA.
    What is the asking price?
    The asking price for this property is $3,675,000.
    What are key features of this property?
    This property features: Prime location at the biggest intersection in Blue Ridge, GA.; Assumable Seller Financing available.; New Publix Retail Center planned for 2026 on the adjoining parcel.
    (770) 977-9500
    We can help!
    Listing Contact
    GARY MILLS
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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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