Retail Space with
For Sale
$1,800,000
2318 Old Cornelia Highway, Gainesville, GA 30507
Established retail property with warehouse capacity, an included operating business, and a grandfathered alcohol license.
Property Size2,002 SF
Price / SF$360
Days on Market32
Property Features for 2318 Old Cornelia Highway
General Information
Standard status
Active
Size
2,002 SF
Property subtype
Other
Additional Details
Business Included
Yes
Liquor License
Yes
Amenities
warehouse space
0.74 acres, Corner Lot, Level
Metal
Public Sewer
Annual Amount: $704, Year: 2024
Laminate
Central Air
Central
Cumulative Days on Market: 4, 4 days on market, On Market Date: 2026-08-04
Parking Total: 40, On Street, Parking Lot
Built in 2002, Aluminum Siding, Retail
County: Hall
Resale
220 Volts, 440 Volts, Cable Available, Electricity Available, Natural Gas Available, Public
Close Of Escrow
Water body: NONE
Accessible Approach with Ramp
Closed Circuit Cameras, Fire Sprinkler System
Fixtures, Furniture
Building Details
Building Size
2,002 SF
Year Built
2002
Listing Agency:
Homesmart Realty Partners
(404) 419-1004
Listed By:
Anhad Chawla
(678) 999-6311
Source:
Blackstreaminternational
Added: Aug 4
Changed: Sep 4
Last Checked: Sep 4 at 5:58AM
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 retail property includes the real estate and an operating liquor store, with a large warehouse component supporting bulk purchasing. The building was constructed in 2002, and the business and property are offered together. Inventory is handled separately.
The transaction includes a grandfathered alcohol license. The property contains 5,000 square feet and is located at 2318 Old Cornelia Highway in Gainesville, Georgia. Public remarks report consistent month-over-month and year-over-year sales growth, with financial information available through direct contact.
The transaction includes a grandfathered alcohol license. The property contains 5,000 square feet and is located at 2318 Old Cornelia Highway in Gainesville, Georgia. Public remarks report consistent month-over-month and year-over-year sales growth, with financial information available through direct contact.
Key Highlights
- Retail property with operating liquor store and real estate included
- 5,000 square feet with large warehouse space
- Grandfathered alcohol license included
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
$57,645
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
3.20%
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%
$1,152,900
$1.2M
Cap Rate 7%
$823,500
$823.5K
Cap Rate 9%
$640,500
$640.5K
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
$90.0K $18.00/SF
− Vacancy
−$7.7K −$1.53/SF
EGI
$82.4K $16.47/SF
− OpEx
−$24.7K −$4.94/SF
NOI
$57.6K $11.53/SF
Area
Hall County, GA
Vacancy
8.50%
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%
$1,152,900
Cap Rate 7%
$823,500
Cap Rate 9%
$640,500
Alternative Uses
Best Use
Retail
$823.5K
$720.6K – $960.8K
NOI $57,645 @ 7.0% cap · market cap 3.20%
Second Best
Warehouse
$524.3K
$458.8K – $611.7K
NOI $36,704 @ 7.0% cap · market cap 2.04%
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
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
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?
Retail space - Established retail property with warehouse capacity, an included operating business, and a grandfathered alcohol license.
Where is this retail space 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: Retail property with operating liquor store and real estate included; 5,000 square feet with large warehouse space; Grandfathered alcohol license included
