Five-Unit 2024 Townhome
New
For Sale
$1,275,000
204 Linsmore Lane, Grovetown, GA 30813
Commercial Sale, Grovetown, GA
Property Size7,758 SF
Lot Size0.05 Acres
Price / SF$164.35
Days on Market2
Property Features for 204 Linsmore Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
PUD
Parking features
Garage
Subdivision
Canterbury Farms
Directions
From I-20 Exit 190 (Grovetown): North on Lewiston Rd. Left on William Few Pkwy. Left on Chamblin Rd. Right on Canterbury Farms Pkwy. Right on Linsmore Ave to 204, 214, 230, 238 Linsmore Ln and 1042 Linsmore Ave.
Standard status
Active
APN
051 2187
Size
7,758 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 68 0.05 ACS, UNIT 65 0.09 ACS, UNIT 59 0.05 ACS, UNIT 55 0.08 ACS, UNIT 52 0.07 ACS, ROYAL OAK@CANTERBURY FARM
Tax Annual Amount
12773
Legal Description
UNIT 68 0.05 ACS, UNIT 65 0.09 ACS, UNIT 59 0.05 ACS, UNIT 55 0.08 ACS, UNIT 52 0.07 ACS, ROYAL OAK@CANTERBURY FARM
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
fenced backyards
covered rear porches
attached garages
walk-in closets
dual vanities
walk-in showers
laundry area
Building Details
Year built
2024
Number of units
5
Flooring type
Carpet, Lvt/lvp
Building materials
Stone, Wood Siding
Listing Agency:
Connect Realty, LLC
(706) 667-1936
Listed By:
Naresh P Punjabi · License #368453
(706) 667-1936
Added: Aug 21
Last Checked: Aug 22 at 9:06AM
MLS# 100598035
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.
Investment Insights
Based on property information with market context.
This five-property multifamily portfolio consists of townhomes completed in 2024, with 7,758 square feet of combined property area. Each residence contains approximately 1,500 square feet with three bedrooms, 2.5 bathrooms, an open first-floor kitchen and living area, fenced backyard, covered rear porch, private driveway, and attached garage. Interior features include LVT/LVP and carpet flooring, central air, electric heat pump systems, walk-in primary closets, dual vanities, walk-in showers, and closet-style laundry areas.
The homes are located in Grovetown within the Royal Oak neighborhood of Canterbury Farms. Individual properties are situated at 204, 214, 230, and 238 Linsmore Lane, plus 1042 Linsmore Avenue. All five residences are currently leased, with tenants responsible for their own utilities. The portfolio is professionally managed, and community access is provided through an annual HOA fee per unit. Public water and sewer serve the properties, and new-construction warranties remain active on many components.
The homes are located in Grovetown within the Royal Oak neighborhood of Canterbury Farms. Individual properties are situated at 204, 214, 230, and 238 Linsmore Lane, plus 1042 Linsmore Avenue. All five residences are currently leased, with tenants responsible for their own utilities. The portfolio is professionally managed, and community access is provided through an annual HOA fee per unit. Public water and sewer serve the properties, and new-construction warranties remain active on many components.
Key Highlights
- Five townhomes built in 2024, comprising 7,758 square feet of combined property area
- Each residence offers approximately 1,500 square feet, 3 bedrooms, and 2.5 bathrooms
- All five homes are currently leased, with tenants responsible for their own utilities
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
$70,276
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
5.51%
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%
$1,405,520
$1.4M
Cap Rate 7%
$1,003,943
$1.0M
Cap Rate 9%
$780,844
$780.8K
Market Conditions
NOI Build-Up for 7,758 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
$139.6K $18.00/SF
− Vacancy
−$11.9K −$1.53/SF
EGI
$127.8K $16.47/SF
− OpEx
−$57.5K −$7.41/SF
NOI
$70.3K $9.06/SF
Area
Columbia County, GA
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,405,520
Cap Rate 7%
$1,003,943
Cap Rate 9%
$780,844
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$878.5K – $1.17M
NOI $70,276 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.45M
$2.14M – $2.86M
NOI $171,411 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 30813, GA
49,376
Population
18,626
Households
2.7
Avg Household Size
33
Median Age
31%
College-Educated
91%
High-School Grad
50.4 sq mi
ZIP Area
980
Density / Sq Mi
$83,890
Median Household Income
$49,871
Median Earnings
$1,404
Median Rent
$270,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Five separately parceled residences are leased and include attached garages, fenced backyards, and covered rear porches.
Where is this multifamily property located?
The property is located at 204 Linsmore Lane Grovetown, GA.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Five townhomes built in 2024, comprising 7,758 square feet of combined property area; Each residence offers approximately 1,500 square feet, 3 bedrooms, and 2.5 bathrooms; All five homes are currently leased, with tenants responsible for their own utilities
