Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Lake Lanier Estate with Gristmill Title is generated by Realmo AI

    5200 Burruss Mill Road, Cumming, GA 30041

    View on Map
    Claim this Listing
    For Sale
    $4,500,000

    Unique 34-acre Lake Lanier property with historic gristmill and docks.

    Type:Land or Vacant Lot
    Lot size:
    34.00 Acres
    Added:
    Feb 14, 2025
    Days on Market:
    476
    Last Refresh:
    Apr 5 at 9:29 pm

    Property Features for 5200 Burruss Mill Road

    General Information

    Standard status
    Active
    Lot size
    34.00 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    SHEILA DAVIS

    Listing agent SHEILA DAVIS License #244784

    Listing office THE NORTON AGENCY

    Listing date Feb 14, 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 THE NORTON AGENCY

    HighLights

    • 34 acres of pristine land on Lake Lanier with four private docks.
    • Historic 19th‑century 'Salt Box' Grist Mill, repurposed as a residence/wedding venue.
    • Waterfall cascading into a peaceful oasis where Six Mile Creek meets Lake Lanier.
    • Convenient south lake location, just three miles east of Georgia 400 and one hour from Atlanta.
    • Option to use the Grist Mill as a temporary residence while building a dream home.
    • Seller is open to dividing the property into larger tracts.

    Overview

    This 34-acre Lake Lanier property includes four private docks. The grounds feature a 19th-century "Salt Box" Grist Mill, repurposed into a residence and most recently used as a wedding venue. Six Mile Creek winds through the landscape, which includes Carolina Hemlock trees, native Azaleas, White Pines, and Magnolias. A waterfall cascades into an oasis where Six Mile Creek meets Lake Lanier. The shoreline extends into the blue-green waters of Lake Lanier. The Grist Mill offers opportunities, while the grounds provide space for leisure activities and amenities. The mill can serve as a temporary residence while building a home. Located in a south lake location, the property is three miles east of Georgia 400 and an hour's drive from Atlanta. The seller is open to dividing the property into larger tracts. The property may be suitable as a family retreat, private homesite, residential enclave, or for outdoor recreation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Burruss Mill Falls Wedding Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cumming
    County
    Forsyth
    State
    Georgia
    Longitude
    -84.0584
    Latitude
    34.2586

    Nearby Similar for Sale

    • $4,490,000
      37,000 SF

      Two-Story Entertainment Taproom & Venue

      For sale entertainment and retail property with breakout rooms, a fenced courtyard, and specialized indoor recreation buildouts.
      2730 SPOT ROAD, , GA 30040
      View Details
    • $1,500,000
      12,000 SF

      Versatile Commercial Property on Canton Highway

      Mixed-use property with warehouse, retail, and billboard income potential.
      4625 Canton Highway, Cumming, GA 30040
      View Details
    • $2,300,000
      4,773 SF

      Renovated Farmhouse Estate on Acreage

      Private Cumming estate with modern farmhouse, equestrian amenities, and pool.
      7246 Plantation Lane, Cumming, GA 30028
      View Details
    • $1,200,000
      1,200 SF

      Renovated Residence with Outdoor Infrastructure

      2.5-acre property with renovated residence and functional outdoor infrastructure.
      1910 Melodie Lane, Cumming, GA 30041
      View Details
    • $300,000
      1,140 SF

      Prime Office Space in Cumming

      Excellent location, functional layout, ideal for various office users.
      2450 Atlanta Highway, Cumming, GA 30040
      View Details
    • $3,250,900

      Corner Commercial Development Land

      High-visibility corner site with major road frontage, well-suited for future convenience, retail, or service uses.
      4275 Matt Highway, Cumming, GA 30028
      View Details
    • $1,750,000

      Prime Commercial Land Opportunity

      5.7 acres of commercial land in a growing area.
      131 N CORNER PKWY, Cumming, GA 30040
      View Details
    • $1,080,000

      Commercial Land in Cumming, GA

      2.78-acre commercial land near GA-400 and downtown Cumming.
      1535 Dahlonega Highway, Cumming, GA 30040
      View Details
    • $2,925,000

      6.52 Acres on Buford Highway

      Prime commercial land opportunity in Forsyth County, Georgia.
      3181 Buford Highway, Cumming, GA 30041
      View Details
    • $2,925,000

      6.52 Acre Commercial Opportunity

      Prime commercial land on Buford Highway in Forsyth County.
      3181 Buford Highway, Cumming, GA 30041
      View Details
    • $3,500,000

      Prime Land in Downtown Cumming

      3.37+/- acres in downtown Cumming with high visibility.
      208 Pirkle Ferry Road, Cumming, GA 30040
      View Details
    • $300,000

      All-Brick End Unit Office

      End unit office with four private offices, reception, and new 2024 HVAC, positioned for convenient tenant access.
      2450 Atlanta Highway, Cumming, GA 30040
      View Details

    FAQs

    What type of property is this?
    Land - Unique 34-acre Lake Lanier property with historic gristmill and docks.
    Where is this land located?
    The property is located at 5200 Burruss Mill Road Cumming, GA.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: 34 acres of pristine land on Lake Lanier with **four private docks**.; Historic 19th‑century 'Salt Box' Grist Mill, repurposed as a residence/wedding venue.; **Waterfall cascading into a peaceful oasis** where Six Mile Creek meets Lake Lanier.
    (770) 532-0022
    We can help!
    Listing Contact
    SHEILA DAVIS
    Real Estate License ID: 244784
    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
    5200 Burruss Mill Road, Cumming, GA 30041
    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!