Freestanding Drive-Through
For Sale
Contact for pricing
1867 Watson Boulevard, Warner Robins, GA 31093
C-2-zoned restaurant with a two-lane drive-through and pylon signage along Watson Boulevard.
Property Size4,042 SF
Price / SF$228.85
Days on Market25
Property Features for 1867 Watson Boulevard
General Information
Standard status
Active
Size
4,042 SF
Property subtype
Retail
Zoning
C-2
Site & Location
Frontage
180 ft
Drive-Thru
Yes
Road Access
Yes
Building Details
Buildings
1
Listing Agency:
SRS Real Estate Partners Atlanta
Listed By:
Stewart Preston · License #GA 420929
(865) 304-2256
Source:
Crexi
Added: Aug 26
Changed: Sep 17
Last Checked: Sep 19 at 9:42AM
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 SRS Real Estate Partners Atlanta
Investment Insights
Based on property information with market context.
This freestanding drive-through restaurant property offers a two-lane drive-through, pylon signage along Watson Boulevard, and approximately 180 feet of frontage. The site is zoned C-2 and includes a 4,042-square-foot property size as reported in the listing data.
The property is located at 1867 Watson Boulevard in Warner Robins, Georgia. Robins Air Force Base is approximately 3 miles away, while Houston Health Care Hospital can be reached within a 2-minute drive.
The property is located at 1867 Watson Boulevard in Warner Robins, Georgia. Robins Air Force Base is approximately 3 miles away, while Houston Health Care Hospital can be reached within a 2-minute drive.
Key Highlights
- Freestanding drive‑through restaurant property
- Two‑lane drive‑through
- Approximately 180' of frontage along Watson Boulevard
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
$42,289
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
4.57%
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%
$845,780
$845.8K
Cap Rate 7%
$604,129
$604.1K
Cap Rate 9%
$469,878
$469.9K
Market Conditions
NOI Build-Up for 4,042 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
$60.6K $15.00/SF
− Vacancy
−$4.2K −$1.05/SF
EGI
$56.4K $13.95/SF
− OpEx
−$14.1K −$3.49/SF
NOI
$42.3K $10.46/SF
Area
Houston County, GA
Vacancy
7.00%
Lease Rate
$15.00 /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%
$845,780
Cap Rate 7%
$604,129
Cap Rate 9%
$469,878
Alternative Uses
Best Use
Specialty Retail
$604.1K
$528.6K – $704.8K
NOI $42,289 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$872.4K
$763.4K – $1.02M
NOI $61,068 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
79k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Groceries 19%
Shops & Services 6%
Hotels & Casinos 1%
McDonald's
Dining
28,429 visits/mo
0.1 miles
Flash Foods
Groceries
14,767 visits/mo
0.4 miles
Checkers
Dining
11,631 visits/mo
0.2 miles
Krystal
Dining
8,588 visits/mo
0.5 miles
Church's Chicken
Dining
6,750 visits/mo
0.2 miles
Demographics for 31093, GA
28,614
Population
13,275
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
87%
High-School Grad
20.4 sq mi
ZIP Area
1,403
Density / Sq Mi
$48,186
Median Household Income
$32,542
Median Earnings
$966
Median Rent
$137,900
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - C-2-zoned restaurant with a two-lane drive-through and pylon signage along Watson Boulevard.
Where is this drive through restaurant located?
The property is located at 1867 Watson Boulevard Warner Robins, GA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Freestanding drive‑through restaurant property; Two‑lane drive‑through; Approximately 180' of frontage along Watson Boulevard
