Snellville Commercial Property For
For Sale
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2149 Scenic Highway, Snellville, GA 30078
Commercial property in downtown Snellville with high visibility.
Property Size2,032 SF
Lot Size0.95 Acres
Price / SF$172.24
Days on Market769
Property Features for 2149 Scenic Highway
General Information
Standard status
Active
Size
2,032 SF
Total Parking Spaces
15
Lot size
0.95 Acres
Property subtype
Retail, Office
Zoning
BN
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Darlene Phillips Real Estate
(770) 972-1500
Listed By:
Darlene E Phillips · License #17235
Source:
Crexi
Added: Jul 13, 2024
Changed: Aug 13
Last Checked: Aug 19 at 9:38AM
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 Darlene Phillips Real Estate
Investment Insights
Based on property information with market context.
Located in downtown Snellville, this commercial property is situated on approximately 0.95 acres. Zoned BN, the property features about 271 feet of road frontage on Highway 124. The 2,032 square foot property was previously used as a flower shop. An existing sign is present. The location offers high visibility due to substantial traffic. It is located across the street from United Community Bank and a veterinary hospital, and adjacent to Snellville Pavilion, making it suitable for a new business seeking a prominent location.
Key Highlights
- High Visibility Location on Hwy 124 with 271' Road Frontage
- Zoned BN (Business Neighborhood) for Versatile Use
- High Traffic Area in Downtown Snellville
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
$23,606
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
6.74%
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%
$472,120
$472.1K
Cap Rate 7%
$337,229
$337.2K
Cap Rate 9%
$262,289
$262.3K
Market Conditions
NOI Build-Up for 2,032 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
$36.6K $18.00/SF
− Vacancy
−$2.9K −$1.40/SF
EGI
$33.7K $16.60/SF
− OpEx
−$10.1K −$4.98/SF
NOI
$23.6K $11.62/SF
Area
Gwinnett County, GA
Vacancy
7.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$472,120
Cap Rate 7%
$337,229
Cap Rate 9%
$262,289
Alternative Uses
Best Use
Retail
$337.2K
$295.1K – $393.4K
NOI $23,606 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$568.0K
$497.0K – $662.7K
NOI $39,762 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,904
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30078, GA
38,350
Population
13,784
Households
2.8
Avg Household Size
39
Median Age
42%
College-Educated
91%
High-School Grad
17.3 sq mi
ZIP Area
2,217
Density / Sq Mi
$90,054
Median Household Income
$44,657
Median Earnings
$1,641
Median Rent
$316,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- SILK FLORAL PARTY — Snellville, GA 30078
- Flowers By Keona — 2140 McGee Rd SW Ste A3600, Snellville, GA 30078
- Snellville Florist — 2320 A, Henry Clower Blvd SW, Snellville, GA 30078
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial property in downtown Snellville with high visibility.
Where is this storefront property located?
The property is located at 2149 Scenic Highway Snellville, GA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: High Visibility Location on Hwy 124 with 271' Road Frontage; Zoned BN (Business Neighborhood) for Versatile Use; High Traffic Area in Downtown Snellville
