Retail Space with
For Sale
$1,800,000
2318 Old Cornelia Hwy, Gainesville, GA 30507
Liquor store business and real estate are offered together with a grandfathered alcohol license.
Property Size5,000 SF
Price / SF$360
Days on Market46
Property Features for 2318 Old Cornelia Hwy
General Information
Standard status
Active
Size
5,000 SF
Additional Details
Business Included
Yes
Building Details
Year Built
2002
Listing Agency:
Homesmart Realty Partners
(678) 999-6311
Listed By:
Anhad Chawla · License #443303
Source:
Jetsetrealty
Added: Jul 15
Changed: Aug 28
Last Checked: Aug 25 at 4:55AM
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 a liquor store business with the underlying real estate, providing a retail operation and substantial warehouse space for bulk purchasing. The property contains 5,000 square feet and was built in 2002.
The business and real estate are included in the sale, while inventory is handled separately. A grandfathered alcohol license is also part of the offering.
The business and real estate are included in the sale, while inventory is handled separately. A grandfathered alcohol license is also part of the offering.
Key Highlights
- 5,000‑square‑foot retail property with warehouse space
- Liquor store business and real estate included
- 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
$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
Location Intelligence
Trade Area within ½ mile
74
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 - Liquor store business and real estate are offered together with a grandfathered alcohol license.
Where is this retail space located?
The property is located at 2318 Old Cornelia Hwy 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‑foot retail property with warehouse space; Liquor store business and real estate included; Grandfathered alcohol license
