Conventional Restaurant with Highway
For Sale
$1,395,000
1707 N Expressway, Griffin, GA 30223
Commercial Sale, Griffin, GA
Property Size6,468 SF
Lot Size2.49 Acres
Price / SF$215.68
Days on Market93
Property Features for 1707 N Expressway
General Information
Property type
Commercial Sale
Property subtype
Other
Accessibility
Accessible Approach with Ramp
Lot features
City Lot, Level
Directions
I-75 SOUTH ON 19/41 (TARA BLVD) FROM JONESBORO. AS SOON AS YOU HIT THE GRIFFIN CITY LIMITS, PROPERTY WILL BE ON THE RIGHT.
Standard status
Active
APN
071 01004
Size
6,468 SF
Lot size
2.49 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7280
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1966
Flooring type
Concrete, Carpet
Building materials
Block, Stucco, Wood Siding
Roof type
Metal
Listing Agency:
Southern Realty Group of GA, Inc.
(770) 227-1211
Listed By:
Tony Akl
(770) 845-7362
Added: May 20
Changed: Aug 19
Last Checked: Aug 20 at 8:06AM
MLS# 10768637
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 conventional restaurant property sits on a 2.49-acre site and includes a central HVAC system with natural gas heat and central air conditioning. Construction materials include block, stucco, and wood siding, with a metal roof. Flooring is carpet and concrete, and accessibility features include an accessible approach with a ramp. The property has public water and public sewer, and cable is available. All equipment remains with the property.
The site offers two entrances for convenient access. One entrance is on North Expressway (US Highway 19/41) with 200 feet of frontage, and the second entrance is on Ridgewood Dr with 190 feet of frontage. The property also includes ample onsite parking.
Built in 1966, the property is suited for continued restaurant use or redevelopment of the entire site.
The site offers two entrances for convenient access. One entrance is on North Expressway (US Highway 19/41) with 200 feet of frontage, and the second entrance is on Ridgewood Dr with 190 feet of frontage. The property also includes ample onsite parking.
Built in 1966, the property is suited for continued restaurant use or redevelopment of the entire site.
Key Highlights
- 2.49‑acre site with all equipment remaining
- Two entrances: US Highway 19/41 frontage of 200 ft and Ridgewood Dr frontage of 190 ft
- Ample onsite parking
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
Yes
Highway access
Yes
Paved road 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 - Conventional restaurant with two entrances, ample onsite parking, and equipment remaining on a 2.49-acre site.
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: 2.49‑acre site with all equipment remaining; Two entrances: US Highway 19/41 frontage of 200 ft and Ridgewood Dr frontage of 190 ft; Ample onsite parking
