Restaurant Building with
For Sale
$1,500,000
1530 Georgia Highway 16 W, Griffin, GA 30223
Commercial Sale, Griffin, GA
Property Size2,912 SF
Lot Size1.08 Acres
Price / SF$515.11
Days on Market301
Property Features for 1530 Georgia Highway 16 W
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
Level
Directions
Located directly in front of Kroger in Griffin.
Standard status
Active
APN
055 03008C
Size
2,912 SF
Lot size
1.08 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
19823
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2005
Building materials
Concrete, Stucco
Roof type
Composition
Listing Agency:
McLeRoy Realty
(770) 567-3030
Listed By:
Emily O'steen · License #395433
(770) 584-3896
Added: Oct 24, 2025
Changed: Aug 19
Last Checked: Aug 20 at 4:06AM
MLS# 10631403
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.
Investment Insights
Based on property information with market context.
This 2,912-square-foot commercial building is configured for restaurant or other business use and was built in 2005. The property includes concrete and stucco construction, a composition roof, central heating, central air, and a dedicated parking lot. Public water and public sewer serve the site, with water available as a listed utility.
Located at 1530 Georgia Highway 16 W in Griffin, the property sits in front of Kroger along a busy commercial corridor. The 1.08-acre parcel provides room for the existing building and parking area, while the highway address supports direct access to the surrounding commercial area.
The property is currently home to Griffin's Big Chic, providing an established restaurant setting for continued food-service use or another business operation.
Located at 1530 Georgia Highway 16 W in Griffin, the property sits in front of Kroger along a busy commercial corridor. The 1.08-acre parcel provides room for the existing building and parking area, while the highway address supports direct access to the surrounding commercial area.
The property is currently home to Griffin's Big Chic, providing an established restaurant setting for continued food-service use or another business operation.
Key Highlights
- 2,912‑square‑foot commercial building on a 1.08‑acre parcel
- Restaurant‑oriented building currently home to Griffin's Big Chic
- Positioned in front of Kroger on Georgia Highway 16 W
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
Retail
$585.1K
$512.0K – $682.6K
NOI $40,958 @ 7.0% cap · market cap 2.73%
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
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
272k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 32%
Home Improvements & Furnishings 29%
Dining 22%
Shops & Services 15%
Kroger
Groceries
64,688 visits/mo
0.1 miles
The Home Depot
Home Improvements & Furnishings
38,605 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
27,279 visits/mo
0.2 miles
Kroger Fuel Center
Shops & Services
25,203 visits/mo
0.1 miles
Aldi
Groceries
21,178 visits/mo
0.4 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 - Existing commercial building with central heating, central air, public water, and public sewer service.
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‑square‑foot commercial building on a 1.08‑acre parcel; Restaurant‑oriented building currently home to Griffin's Big Chic; Positioned in front of Kroger on Georgia Highway 16 W
