Grocery and Convenience Store
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 Market1
Property Features for 2318 Old Cornelia Highway
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking
40
Parking features
Parking Lot, On Street
Accessibility
Accessible Approach with Ramp
Lot features
Corner Lot, Level
Directions
Use google maps
Standard status
Active
APN
15033B000037
Size
5,000 SF
Lot size
0.74 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
704
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2002
Flooring type
Laminate
Building materials
Aluminum Siding
Roof type
Metal
Listing Agency:
Homesmart Realty Partners
(404) 419-1004
Listed By:
Anhad Chawla · License #443303
(678) 999-6311
Added: Sep 1
Last Checked: Sep 1 at 10:06PM
MLS# 10837435
Copyright © 2026 Georgia Multiple Listing Service. 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 grocery and convenience store property combines an operating liquor retail business with the underlying real estate. The sale includes the business and property, while inventory is handled separately. A large warehouse area supports bulk purchasing and back-of-house storage. The building was constructed in 2002 and features aluminum siding, laminate flooring, central heating, central air, and a metal roof.
The 0.74-acre site is located at 2318 Old Cornelia Highway in Gainesville, Georgia. On-site parking is provided through a parking lot, with additional on-street parking available. The property has an accessible approach with ramp, public water, public sewer, and cable availability. A grandfathered alcohol license is also associated with the operation.
The 0.74-acre site is located at 2318 Old Cornelia Highway in Gainesville, Georgia. On-site parking is provided through a parking lot, with additional on-street parking available. The property has an accessible approach with ramp, public water, public sewer, and cable availability. A grandfathered alcohol license is also associated with the operation.
Key Highlights
- 5,000 square feet of retail and warehouse space
- 0.74‑acre site at 2318 Old Cornelia Highway
- Business and real estate included; inventory separate
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
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Operating retail property with warehouse capacity, a grandfathered alcohol license, and included business and real estate.
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 retail and warehouse space; 0.74‑acre site at 2318 Old Cornelia Highway; Business and real estate included; inventory separate
