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    308 Mill Creek Drive Hull, GA 30646

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    For Sale
    $1,899,000

    Two warehouse/industrial buildings on 6 acres near Athens, Georgia.

    Type:Commercial/Industrial
    Property size:
    10,000 SF
    Lot size:
    6.00 Acres
    Price / SF:
    $189/SF
    Added:
    Mar 12, 2026
    Days on Market:
    48
    Last Refresh:
    Apr 6 at 3:52 am

    Property Features for 308 Mill Creek Drive

    General Information

    Standard status
    Active
    Size
    10,000 SF
    Lot size
    6.00 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    2022

    We can help!

    Listing Contact
    Candi Mcclamma
    Candi Mcclamma

    Listing agent Candi Mcclamma License #349801

    Listing office Epique Realty

    Listing date Mar 12, 2026

    Source Exitrealty

    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 Epique Realty

    Overview

    Versatile Hull Warehouse/Industrial Buildings

    Located at 308 and 304 Mill Creek Drive in Hull, Georgia, this commercial property features two warehouse/industrial buildings totaling over 10,000 square feet of newer construction. Situated on a 6-acre lot, the property is currently used as a church and event center. The location in Madison County, which has a growth rate over 14%, offers proximity to Athens and the University of Georgia. The property's expansive grounds provide ample space for development. Potential uses include continuing its current use as a community hub, transforming it into a school or educational facility, or capitalizing on the demand for storage solutions with potential expansion. Nearby businesses and amenities enhance its appeal, providing convenience and accessibility. The property represents an investment opportunity in a rapidly growing area. The seller may be interested in leasing back, or this could be a great owner occupant acquisition seeking SBA financing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Suggested Use

    Building Supply Auto Repair Shop Hair Salon Gym & Fitness Center Auto Parts Store Accounting Firm HVAC Service Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hull
    County
    Madison
    State
    Georgia
    Longitude
    -83.2665
    Latitude
    34.0241

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    FAQs

    What type of property is this?
    Warehouse - Two warehouse/industrial buildings on 6 acres near Athens, Georgia.
    Where is this warehouse located?
    The property is located at 308 Mill Creek Drive Hull, GA.
    What is the asking price?
    The asking price for this property is $1,899,000.
    What are key features of this property?
    This property features: Two newer construction warehouse/industrial buildings totaling over 10,000 sq ft.; Located on a large 6‑acre lot with ample space for development/expansion.; Prime investment opportunity in a rapidly growing area of Madison County (growth rate over 14%).
    (888) 893-3537
    We can help!
    Listing Contact
    Candi Mcclamma
    Candi Mcclamma
    Real Estate License ID: 349801
    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.

    More about this property
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