Downtown Restaurant With Beer
New
For Sale
$449,000
237 W Washington Street, Monticello, GA 31064
Freestanding venue includes a commercial kitchen, custom bar, and separate dining and beverage areas.
Property Size1,971 SF
Price / SF$346.45
Days on Market7
Property Features for 237 W Washington Street
General Information
Standard status
Active
Size
1,971 SF
Property subtype
Other
Additional Details
Patio
Yes
Amenities
0.1 acres, City Lot
Partial, Privacy
Public Sewer
Annual Amount: $940, Year: 2025
Electric, Zoned
Cumulative Days on Market: 3, 3 days on market, On Market Date: 2026-08-13
Parking Lot
Built in 1971, Brick
County: Jasper
Updated/Remodeled
Cable Available, Electricity Available, High Speed Internet, Natural Gas Available, Underground Utilities, Public
Negotiable
Building Details
Building Size
1,971 SF
Year Built
1971
Buildings
1
Listing Agency:
Heart Land Realty
(706) 473-9583
Listed By:
Ashley Pruett
(706) 473-9583
Source:
Blackstreaminternational
Added: Aug 13
Changed: Aug 17
Last Checked: Aug 18 at 5:04AM
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 Heart Land Realty
Investment Insights
Based on property information with market context.
This freestanding restaurant property in Downtown Monticello has been renovated for food-and-beverage operations. The interior combines exposed brick, architectural beams, high ceilings, and other historic design elements with a custom bar, commercial kitchen, dedicated dining area, and separate bar space. An additional beer garden provides outdoor seating and entertainment space.
Located just off the downtown Square within the Central Business District, the property is positioned among dining, shopping, and community-event activity. The existing configuration supports continued restaurant and bar operations while allowing the space to accommodate a new culinary, hospitality, or entertainment concept.
Located just off the downtown Square within the Central Business District, the property is positioned among dining, shopping, and community-event activity. The existing configuration supports continued restaurant and bar operations while allowing the space to accommodate a new culinary, hospitality, or entertainment concept.
Key Highlights
- Renovated freestanding restaurant and bar property in Downtown Monticello
- Outfitted commercial kitchen with custom‑built bar
- Dedicated dining area and separate bar space
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
$20,827
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
4.64%
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%
$416,540
$416.5K
Cap Rate 7%
$297,529
$297.5K
Cap Rate 9%
$231,411
$231.4K
Market Conditions
NOI Build-Up for 1,296 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
$29.9K $23.04/SF
− Vacancy
−$2.1K −$1.61/SF
EGI
$27.8K $21.43/SF
− OpEx
−$6.9K −$5.36/SF
NOI
$20.8K $16.07/SF
Area
Jasper County, GA
Vacancy
7.00%
Lease Rate
$23.04 /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%
$416,540
Cap Rate 7%
$297,529
Cap Rate 9%
$231,411
Alternative Uses
Best Use
Specialty Retail
$297.5K
$260.3K – $347.1K
NOI $20,827 @ 7.0% cap · market cap 4.64%
Second Best
Industrial
$112.8K
$98.7K – $131.6K
NOI $7,895 @ 7.0% cap · market cap 1.76%
Theoretical Best
Office A
$362.3K
$317.0K – $422.7K
NOI $25,360 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
42k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 37%
Shops & Services 37%
Dining 26%
Ingles
Groceries
15,661 visits/mo
0.3 miles
Circle K
Shops & Services
10,445 visits/mo
0.3 miles
Jack's Family Restaurants
Dining
8,613 visits/mo
0.1 miles
Dollar General
Shops & Services
4,922 visits/mo
0.2 miles
SUBWAY
Dining
2,352 visits/mo
0.3 miles
Demographics for 31064, GA
9,880
Population
4,264
Households
2.3
Avg Household Size
41
Median Age
23%
College-Educated
91%
High-School Grad
245.7 sq mi
ZIP Area
40
Density / Sq Mi
$56,961
Median Household Income
$37,557
Median Earnings
$1,020
Median Rent
$223,100
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?
Conventional restaurant - Freestanding venue includes a commercial kitchen, custom bar, and separate dining and beverage areas.
Where is this conventional restaurant located?
The property is located at 237 W Washington Street Monticello, GA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Renovated freestanding restaurant and bar property in Downtown Monticello; Outfitted commercial kitchen with custom‑built bar; Dedicated dining area and separate bar space
