Convenience Store with
New
For Sale
$1,800,000
2318 Old Cornelia Highway, Gainesville, GA 30507
Commercial Sale, Gainesville, GA
Property Size5,000 SF
Lot Size0.74 Acres
Price / SF$360
Days on Market2
Property Features for 2318 Old Cornelia Highway
General Information
Property type
Residential
Property subtype
Retail
Zoning
C1
Parking
40
Parking features
Parking Lot, On Street
Security features
Security Lighting
Interior features
High Ceilings 10 or Greater, Reception Area, Restrooms
Accessibility
Accessible Approach with Ramp
Lot features
Corner Lot, Free Standing, Level
View
City
Directions
Use google maps
Standard status
Active
Size
5,000 SF
Lot size
0.74 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
704
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
1
Flooring type
Tile, Laminate
Building materials
Aluminum Siding
Roof type
Metal, Flat
Listing Agency:
Homesmart Realty Partners · HomeSmart International
(404) 419-1004
Listed By:
Anhad Chawla · License #443303
(678) 999-6311
Added: Sep 1
Last Checked: Sep 2 at 5:06AM
MLS# 7830677
Copyright © 2026 First Multiple Listing Service, Inc. 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 5,000-square-foot convenience store property includes the operating liquor business and the underlying real estate. The layout provides a reception area, restrooms, and high ceilings of 10 feet or greater, with tile and laminate flooring throughout. Central heating and central air support the interior, while the building uses aluminum siding and a combination metal and flat roof system.
The 0.74-acre property is zoned C1 and includes a large warehouse area for bulk purchasing and storage. On-site parking is supplemented by street parking, and an accessible approach with ramp is provided. Public water and cable availability are listed. The business includes a grandfathered alcohol license; inventory is separate from the sale.
The 0.74-acre property is zoned C1 and includes a large warehouse area for bulk purchasing and storage. On-site parking is supplemented by street parking, and an accessible approach with ramp is provided. Public water and cable availability are listed. The business includes a grandfathered alcohol license; inventory is separate from the sale.
Key Highlights
- 5,000 square feet of building area on 0.74 acres
- Business and real estate included; inventory is separate
- Grandfathered alcohol license
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
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
74
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Operating liquor business with real estate, a grandfathered alcohol license, and dedicated bulk-storage capacity.
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: 5,000 square feet of building area on 0.74 acres; Business and real estate included; inventory is separate; Grandfathered alcohol license
