Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1661 G R Hayes Drive Elberton, GA 30635

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $99,000

    8.67-acre wooded lot ideal for small farm or homestead.

    Type:Land / Unimproved Land
    Lot size:
    8.67 Acres
    Added:
    Aug 25, 2024
    Days on Market:
    602
    Last Refresh:
    Mar 13 at 12:51 pm

    Property Features for 1661 G R Hayes Drive

    General Information

    Standard status
    Active
    Lot size
    8.67 Acres
    Property subtype
    Land / Unimproved Land

    We can help!

    Listing Contact
    Lewis Childs

    Listing agent Lewis Childs License #179146

    Listing office Savannah Valley Land Co.

    Listing date Aug 25, 2024

    Source Compass

    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 Savannah Valley Land Co.

    Overview

    8.67 Acres Near State Park

    This 8.67-acre property is a wooded lot situated a short distance, approximately 2 miles, from Lake Richard B. Russell State Park. The land is relatively level, making it suitable for a small farm or homestead. A new survey is pending approval by the Elbert County Planning & Zoning. The provided address is approximate and used for GPS location purposes only, as the property has not been assigned a 911 address.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Elberton
    County
    Elbert
    State
    Georgia
    Longitude
    -82.795715
    Latitude
    34.16016

    Nearby Similar for Sale

    • $415,000
      4,000 SF

      Elberton Commercial Building on Two Acres

      Versatile commercial building in Elberton, ready for immediate occupancy.
      1305 Filter Plant Drive, Elberton, GA 30635
      View Details
    • $449,900
      7,200 SF

      Elberton Commercial Building on Corner Lot

      7200+ Sq Ft commercial building on 1.4 acre lot.
      740 Martin Luther King Jr Boulevard, Elberton, GA 30635
      View Details
    • $495,000
      11,100 SF

      Versatile Commercial Building with Storage

      9,900 sq ft commercial building with income-generating storage units.
      891 Elbert Street, Elberton, GA 30635
      View Details
    • $325,000
      2,672 SF

      Historic Office Building in Elberton

      Charming office with development potential near downtown Elberton.
      6 Forest Avenue, Elberton, GA 30635
      View Details
    • $325,000

      Prime Land in Elberton, GA

      2+ acre commercial lot with high visibility and easy access.
      381 College Avenue, Elberton, GA 30635
      View Details
    • $249,000
      4,320 SF

      Granite Shed on Hartwell Highway

      Well-equipped granite shed in established stone industry region.
      2304 Hartwell Highway, Elberton, GA 30635
      View Details
    • $159,000

      Elberton, GA Prime Lot

      34.21 acre lot on Washington Highway in Elberton, GA.
      2557 Washington Highway, Elberton, GA 30635
      View Details
    • $31,500

      Elberton, GA Commercial Land

      Two commercial lots totaling 5.38 acres in Elberton, Georgia.
      Maplewood Street, Elberton, GA 30635
      View Details
    • $371,000

      Elberton, GA Hunting Land

      53 acres of peaceful forest, perfect for hunting.
      1302 River Road, Elberton, GA 30635
      View Details
    • $449,900
      7,200 SF

      Versatile Commercial Building on Corner Lot

      7200+ Sq Ft commercial building on 1.4 acre corner lot.
      740 Martin Luther King Jr Boulevard, Elberton, GA 30635
      View Details
    • $445,000

      Elberton Hunting and Recreation Land

      68-acre hunting camp with infrastructure and home site potential.
      1736 Lincolnton Highway, Elberton, GA 30635
      View Details
    • $390,000

      65.5 Acres of Land in Elberton

      Pristine 65.5-acre land lot with diverse opportunities in Elberton, GA.
      Jaudon Road, Elberton, GA 30635
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 8.67-acre wooded lot ideal for small farm or homestead.
    Where is this agricultural land / farmland located?
    The property is located at 1661 G R Hayes Drive Elberton, GA.
    What is the asking price?
    The asking price for this property is $99,000.
    What are key features of this property?
    This property features: 8.67 acres of land, perfect for your dream project; Only 2 miles from Lake Richard B. Russell State Park; Level wooded lot
    (706) 283-1306
    We can help!
    Listing Contact
    Lewis Childs
    Real Estate License ID: 179146
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!