Freestanding Restaurant
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 Market138
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: Sep 13
Last Checked: Oct 4 at 4:06PM
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 freestanding restaurant property includes 6,468 square feet of improvements on a 2.49-acre parcel. Existing features include restaurant equipment that remains with the property, concrete and carpet flooring, central air conditioning, natural gas heat, a metal roof, and an accessible approach with ramp. Block, stucco, and wood siding are used in the construction. Public water and public sewer serve the site.
Access is provided from North Expressway, identified as US Highway 19/41, and Ridgewood Drive. The North Expressway connection includes 200 feet of frontage, while the Ridgewood Drive entrance includes 190 feet. On-site parking is available, and the property is positioned near Griffin’s business and shopping area. The full 2.49-acre site also offers a basis for considering redevelopment alongside continued restaurant use.
Access is provided from North Expressway, identified as US Highway 19/41, and Ridgewood Drive. The North Expressway connection includes 200 feet of frontage, while the Ridgewood Drive entrance includes 190 feet. On-site parking is available, and the property is positioned near Griffin’s business and shopping area. The full 2.49-acre site also offers a basis for considering redevelopment alongside continued restaurant use.
Key Highlights
- 6,468‑square‑foot restaurant property on a 2.49‑acre site
- Restaurant equipment remains with the property
- 200 feet of frontage and an entrance on North Expressway (US Highway 19/41)
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Established restaurant improvements with retained equipment, public utilities, multiple access points, and on-site parking.
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: 6,468‑square‑foot restaurant property on a 2.49‑acre site; Restaurant equipment remains with the property; 200 feet of frontage and an entrance on North Expressway (US Highway 19/41)
