Liquor Store With
New
For Sale
Contact for pricing
2318 Old Cornelia Highway, Gainesville, GA 30507
Operating liquor store offered with the underlying real estate and warehouse space.
Property Size5,000 SF
Price / SF$360
Days on Market7
Property Features for 2318 Old Cornelia Highway
General Information
Standard status
Active
Size
5,000 SF
Total Parking Spaces
40
Property subtype
Retail
Zoning
C1
Additional Details
Business Included
Yes
Liquor License
Yes
Building Details
Year Built
2002
Buildings
1
Listing Agency:
Homesmart Realty Partners
(678) 999-6311
Listed By:
Anhad Chawla · License #443303
Source:
Crexi
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 9:11AM
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 Homesmart Realty Partners
Investment Insights
Based on property information with market context.
This offering combines an operating liquor store with the underlying commercial property. The building contains 5,000 square feet and was constructed in 2002, providing warehouse area that supports bulk purchasing and storage. Business operations and real estate are included in the sale, while inventory is handled separately.
The property is located at 2318 Old Cornelia Highway in Gainesville, Georgia, and carries C1 zoning. A grandfathered alcohol license is associated with the business. Financial information is available through the listing contact.
The property is located at 2318 Old Cornelia Highway in Gainesville, Georgia, and carries C1 zoning. A grandfathered alcohol license is associated with the business. Financial information is available through the listing contact.
Key Highlights
- Liquor store business and real estate included
- 5,000‑square‑foot building constructed in 2002
- Warehouse space supports bulk purchasing and storage
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
$72,844
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
4.05%
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%
$1,456,880
$1.5M
Cap Rate 7%
$1,040,629
$1.0M
Cap Rate 9%
$809,378
$809.4K
Market Conditions
NOI Build-Up for 5,000 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
$105.0K $21.00/SF
− Vacancy
−$7.9K −$1.58/SF
EGI
$97.1K $19.43/SF
− OpEx
−$24.3K −$4.86/SF
NOI
$72.8K $14.57/SF
Area
Hall County, GA
Vacancy
7.50%
Lease Rate
$21.00 /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%
$1,456,880
Cap Rate 7%
$1,040,629
Cap Rate 9%
$809,378
Alternative Uses
Best Use
Specialty Retail
$1.04M
$910.6K – $1.21M
NOI $72,844 @ 7.0% cap · market cap 4.05%
Second Best
Retail
$823.5K
$720.6K – $960.8K
NOI $57,645 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$1.40M
$1.23M – $1.63M
NOI $98,018 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30507, GA
30,573
Population
9,496
Households
3.2
Avg Household Size
33
Median Age
14%
College-Educated
73%
High-School Grad
70.8 sq mi
ZIP Area
432
Density / Sq Mi
$74,782
Median Household Income
$34,286
Median Earnings
$1,163
Median Rent
$236,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Operating liquor store offered with the underlying real estate and warehouse space.
Where is this grocery and convenience store located?
The property is located at 2318 Old Cornelia Highway Gainesville, GA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Liquor store business and real estate included; 5,000‑square‑foot building constructed in 2002; Warehouse space supports bulk purchasing and storage
