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    Strip Plaza with Laundromat Title is generated by Realmo AI

    202 Thomson Hwy / Hwy 17 N, Wrens, GA

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    Claim this Listing
    For Sale
    $670,000

    COMMERCIAL - Wrens, GA

    Property size:
    5,076 SF
    Lot size:
    1.16 Acres
    Price / SF:
    $131/SF
    Added:
    Jun 22, 2024
    Days on Market:
    689
    Last Refresh:
    May 11 at 8:06 am

    Property Features for 202 Thomson Hwy / Hwy 17 N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    Size
    5,076 SF
    Lot size
    1.16 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1984
    Roof type
    Metal

    We can help!

    Listing Contact
    Christine Pirtle

    Listing agent Christine Pirtle License #345676

    Listing office Better Homes & Gardens Executive Partners 1030 Jimmie Dyess Parkway, Augusta, GA

    Listing date Jun 22, 2024

    MLS# 98225160

    Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Diverse Income Stream: Includes laundromat with equipment and 4 rental units.
    • High‑Traffic Location: Strategically located for maximum visibility.
    • Recent Exterior Updates: New paint, soffits, eves, and metal facial updated in 2022.
    • Investment Opportunity: Well‑maintained strip mall with income‑generating units.
    • Tenant Stability: 3 of 4 units are currently leased, with the longest tenant residing there for several years.
    • Individual Unit Utilities: Each unit has its own electricity meter and A/C unit.

    Overview

    This 5076 sq ft strip plaza features a laundromat and four additional rental units. The laundromat occupies 2000 sq ft, while the remaining four units total 3076 sq ft. Located in a high-traffic area, the property offers significant visibility. Exterior updates completed in 2022 include new paint, soffits, eaves, and metal facial on the front of the building. One unit includes an addition to the rear for storage and laundry machines. The laundromat received a new A/C unit in 2022, and each unit has its own A/C unit, with tenants responsible for HVAC repairs and maintenance. Remote-access cameras are installed inside and outside the laundromat and on the exterior front of the building. All rental units operate on yearly leases with varying renewal dates and rental amounts. Each unit is individually metered for electricity, which tenants are required to obtain during the lease term. The landlord covers water, sewage, and trash services for all units. The property is located in Wrens, GA, and sits on a 1.16-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Map

    City
    Wrens
    County
    Jefferson
    State
    Georgia
    Longitude
    -82.391947
    Latitude
    33.208897

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    FAQs

    What type of property is this?
    Strip mall - 5076 sq ft strip plaza with diverse income-generating units.
    Where is this strip mall located?
    The property is located at 202 Thomson Hwy / Hwy 17 N Wrens, GA.
    What is the asking price?
    The asking price for this property is $670,000.
    What are key features of this property?
    This property features: Diverse Income Stream: Includes laundromat with equipment and 4 rental units.; High‑Traffic Location: Strategically located for maximum visibility.; Recent Exterior Updates: New paint, soffits, eves, and metal facial updated in 2022.
    (706) 814-8364
    We can help!
    Listing Contact
    Christine Pirtle
    Real Estate License ID: 345676
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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