Restaurant Building in Front of
For Sale
$1,500,000
1530 Georgia Highway 16 W, Griffin, GA 30223
2,912-sf restaurant building with ample parking and direct frontage in front of Kroger in Griffin, GA.
Property Size2,912 SF
Price / SF$515.11
Days on Market293
Property Features for 1530 Georgia Highway 16 W
General Information
Standard status
Active
Size
2,912 SF
Taxes and HOA fees
Annual Taxes
$19,822
Listing Agency:
McLeRoy Realty
(770) 584-3896
Listed By:
Emily O'Steen · License #395433
(770) 584-3896
Source:
Exprealty
Added: Oct 24, 2025
Changed: Aug 9
Last Checked: Aug 11 at 12:48PM
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 McLeRoy Realty
Investment Insights
Based on property information with market context.
This 2,912-square-foot commercial building is currently home to Griffin's Big Chic and is offered for sale as a turn-key restaurant location or a flexible site for your next concept. The property includes ample parking and is designed for day-to-day customer service and operations.
Located at 1530 Georgia Highway 16 W in Griffin, the building sits directly in front of Kroger on a busy corridor. The public remarks describe the site as providing strong visibility and exposure from a high-traffic roadway.
For restaurant operators, this property offers an established, restaurant-focused footprint on a prominent commercial frontage, along with parking and straightforward access for patrons. For investors or business buyers, it presents a single, dedicated building positioned for retail-area traffic, with the advantage of an existing operating presence at the time of sale.
Located at 1530 Georgia Highway 16 W in Griffin, the building sits directly in front of Kroger on a busy corridor. The public remarks describe the site as providing strong visibility and exposure from a high-traffic roadway.
For restaurant operators, this property offers an established, restaurant-focused footprint on a prominent commercial frontage, along with parking and straightforward access for patrons. For investors or business buyers, it presents a single, dedicated building positioned for retail-area traffic, with the advantage of an existing operating presence at the time of sale.
Key Highlights
- 2,912 sq. ft. commercial building currently home to Griffin's Big Chic
- Direct frontage in front of Kroger on a busy commercial corridor in Griffin, GA
- Ideal for restaurant or business use based on the existing restaurant tenant space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,797
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$935,940
$935.9K
Cap Rate 7%
$668,529
$668.5K
Cap Rate 9%
$519,967
$520.0K
Market Conditions
NOI Build-Up for 2,912 SF
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.
Gross rent
$67.1K $23.04/SF
− Vacancy
−$4.7K −$1.61/SF
EGI
$62.4K $21.43/SF
− OpEx
−$15.6K −$5.36/SF
NOI
$46.8K $16.07/SF
Area
Spalding County, GA
Vacancy
7.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$935,940
Cap Rate 7%
$668,529
Cap Rate 9%
$519,967
Alternative Uses
Best Use
Specialty Retail
$668.5K
$585.0K – $780.0K
NOI $46,797 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$817.7K
$715.5K – $954.0K
NOI $57,238 @ 7.0% cap · market cap 3.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
308k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Home Improvements & Furnishings 26%
Shops & Services 16%
Groceries 14%
Chick-fil-A
Dining
40,712 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
38,605 visits/mo
0.2 miles
Lowe's
Home Improvements & Furnishings
27,279 visits/mo
0.4 miles
Kroger Fuel Center
Shops & Services
25,203 visits/mo
0.5 miles
Food Depot
Groceries
23,052 visits/mo
0.2 miles
Demographics for 30223, GA
38,111
Population
15,647
Households
2.4
Avg Household Size
41
Median Age
15%
College-Educated
84%
High-School Grad
108.0 sq mi
ZIP Area
353
Density / Sq Mi
$56,940
Median Household Income
$34,305
Median Earnings
$1,025
Median Rent
$186,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - 2,912-sf restaurant building with ample parking and direct frontage in front of Kroger in Griffin, GA.
Where is this conventional restaurant located?
The property is located at 1530 Georgia Highway 16 W Griffin, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2,912 sq. ft. commercial building currently home to Griffin's Big Chic; Direct frontage in front of Kroger on a busy commercial corridor in Griffin, GA; Ideal for restaurant or business use based on the existing restaurant tenant space
