Fayetteville Land with Two
150 Old Hwy 138, Fayetteville, GA 30214
LAND - Fayetteville, GA
Property size:
1,700 SFLot size:
6.30 AcresPrice / SF:
$264/SF- Added:
- Feb 20, 2026
- Days on Market:
- 85
- Last Refresh:
- May 16 at 6:06 pm
Property Features for 150 Old Hwy 138
General Information
- Property type
- Land
- Property subtype
- Other
- Vegetation
- Partially Wooded
- Fencing
- Fenced, Privacy
- Standard status
- Active
- APN
- 130501006 & 130501045
- Size
- 1,700 SF
- Lot size
- 6.30 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 1167
Utilities
- Utilities
- Cable Available
- Sewer type
- Septic Tank
- Water source
- Well, Private
Building Details
- Additional Structures
- Residence
Listing agent Cristi Palmer License #369204 (404) 642-1387
Listing office Atlanta Communities 1801 Peachtree Street NE #155, Suite 155, Marietta, GA (404) 844-4977
Listing date Feb 20, 2026
MLS# 10703460
Listing URL
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 6.3 acres in North Fayette with two homes, offering flexibility for multi‑generational living, rental income, or a private estate.
- Excellent road frontage and visibility on two corner lots near GA Hwy 138 and Hwy 314, presenting potential for future commercial development.
- Separate 2‑bedroom cottage with private driveway, kitchen, laundry, and new electrical box, ideal for in‑law suite or rental income.
- Convenient location: close to Fayetteville, Trilith Studios, I‑85, I‑285, Hartsfield‑Jackson Atlanta International Airport, and Downtown Atlanta.
- Main residence features 4 bedrooms, mid‑century charm, stainless steel appliances, wood‑burning fireplace, and fenced backyard.
- Natural spring water system in place for over 100 years, plus tool shed and storage shed for ample storage.
Overview
This property features 6.3 acres of partially wooded land in North Fayette. The property includes two homes and presents potential for future commercial use due to its location on two corner lots near the intersection of GA Hwy 138 and Hwy 314. The main residence, approximately 1,700 square feet, contains four bedrooms and two bathrooms, with mid-century design elements such as Pickwick paneling and original pine hardwood floors. The kitchen is equipped with stainless steel appliances, and the den includes a wood-burning fireplace. A laundry room and mudroom lead to a fenced backyard with a patio and paver walkway. The main home has a new water heater. A separate 816-square-foot cottage offers two bedrooms and one bathroom, suitable for an in-law suite, guest quarters, or rental income. The cottage has a kitchen with engineered hardwood floors, an original farmhouse sink, pantry shelving, a stove, a washer and dryer, a new electrical box, and a private gravel driveway. Each home has its own septic system and uses a natural spring water system. The property also includes an in-ground fire pit, a tool shed, and an extra storage shed. It is located near downtown Fayetteville, approximately 30 minutes from Downtown Atlanta, 20 minutes from Hartsfield-Jackson Atlanta International Airport, 10 minutes from I-85 and I-285, and 15 minutes from Trilith Studios.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$253.8K
NOI $22,838 @ 9.00% cap · cautious / downside scenario
Moderate
$326.3K
NOI $22,838 @ 7.00% cap · market / base-case scenario
Aggressive
$456.8K
NOI $22,838 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.3k | $26.04 |
| − Vacancy | −$2.7k | −$1.61 |
| EGI | $41.5k | $24.43 |
| − OpEx | −$18.7k | −$10.99 |
| NOI | $22.8k | $13.43 |
1,700 SF · lease $26.04/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$326.3K
$285.5K – $380.6K
NOI $22,838 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$475.2K
$415.8K – $554.4K
NOI $33,265 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Fayetteville
- County
- Fayette
- State
- Georgia
- Longitude
- -84.4442184
- Latitude
- 33.5494739
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - 6.3 acres with two homes, potential for commercial use.
Where is this commercial land located?
The property is located at 150 Old Hwy 138 Fayetteville, GA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 6.3 acres in North Fayette with two homes, offering flexibility for multi‑generational living, rental income, or a private estate.; Excellent road frontage and visibility on two corner lots near GA Hwy 138 and Hwy 314, presenting potential for future commercial development.; **Separate 2‑bedroom cottage with private driveway, kitchen, laundry, and new electrical box, ideal for in‑law suite or rental income.**
