Restaurant Property with Multiple
For Sale
$1,395,000
1707 N Expressway, Griffin, GA 30223
Restaurant site offers highway visibility, ample onsite parking, and included equipment for a quick continuation or redevelopment.
Property Size6,468 SF
Lot Size2.49 Acres
Price / SF$215.68
Days on Market109
Property Features for 1707 N Expressway
General Information
Standard status
Active
Size
6,468 SF
Lot size
2.49 Acres
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,279
Listing Agency:
Southern Realty Group of GA, Inc.
(770) 227-1211
Listed By:
Tony Akl
(770) 845-7362
Source:
Exprealty
Added: May 20
Changed: Aug 31
Last Checked: Sep 5 at 12:22PM
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 Southern Realty Group of GA, Inc.
Investment Insights
Based on property information with market context.
This for-sale restaurant property includes the existing restaurant improvements and all equipment remains with the sale. The site is configured for restaurant operations with ample onsite parking and two separate access points.
One entrance is located from North Expressway (US Highway 19/41) with 200 feet of frontage. A second entrance is provided from Ridgewood Dr with 190 feet of frontage, supporting straightforward vehicle flow and flexible access.
Situated in Griffin, GA with visibility along a busy US Highway 19/41 corridor, the property can be a practical fit for a restaurateur looking to continue operations with minimal disruption, given the equipment is included. It also presents an alternative path for ownership groups interested in repositioning the full site, as redevelopment of the entire 2.49-acre parcel is noted as a viable option.
One entrance is located from North Expressway (US Highway 19/41) with 200 feet of frontage. A second entrance is provided from Ridgewood Dr with 190 feet of frontage, supporting straightforward vehicle flow and flexible access.
Situated in Griffin, GA with visibility along a busy US Highway 19/41 corridor, the property can be a practical fit for a restaurateur looking to continue operations with minimal disruption, given the equipment is included. It also presents an alternative path for ownership groups interested in repositioning the full site, as redevelopment of the entire 2.49-acre parcel is noted as a viable option.
Key Highlights
- Restaurant site on busy US Hwy 19/41 with high visibility
- 2.49‑acre site with ample onsite parking
- Two entrances: 200 ft frontage from N Expressway (Hwy 19/41) and 190 ft frontage on Ridgewood Dr
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
$103,943
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
7.45%
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%
$2,078,860
$2.1M
Cap Rate 7%
$1,484,900
$1.5M
Cap Rate 9%
$1,154,922
$1.2M
Market Conditions
NOI Build-Up for 6,468 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
$149.0K $23.04/SF
− Vacancy
−$10.4K −$1.61/SF
EGI
$138.6K $21.43/SF
− OpEx
−$34.6K −$5.36/SF
NOI
$103.9K $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%
$2,078,860
Cap Rate 7%
$1,484,900
Cap Rate 9%
$1,154,922
Alternative Uses
Best Use
Specialty Retail
$1.48M
$1.30M – $1.73M
NOI $103,943 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,135 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
223k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Apparel 26%
Superstores 10%
Home Improvements & Furnishings 8%
LongHorn Steakhouse
Dining
24,173 visits/mo
0.3 miles
Big Lots
Superstores
22,049 visits/mo
0.3 miles
Belk
Apparel
20,916 visits/mo
0.4 miles
Starbucks
Dining
20,492 visits/mo
0.4 miles
Burlington
Apparel
19,908 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 - Restaurant site offers highway visibility, ample onsite parking, and included equipment for a quick continuation or redevelopment.
Where is this conventional restaurant located?
The property is located at 1707 N Expressway Griffin, GA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Restaurant site on busy US Hwy 19/41 with high visibility; 2.49‑acre site with ample onsite parking; Two entrances: 200 ft frontage from N Expressway (Hwy 19/41) and 190 ft frontage on Ridgewood Dr
