Downtown Restaurant With
For Sale
$449,000
237 W Washington Street, Monticello, GA 31064
COMMERCIAL - Monticello, GA
Property Size1,296 SF
Lot Size0.10 Acres
Price / SF$346.45
Days on Market8
Property Features for 237 W Washington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Fencing
Privacy
Lot features
City Lot
Directions
GPS or call agent.
Standard status
Active
APN
M05A 068
Size
1,296 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
940
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Zoned
Cooling system
Electric, Zoned
Water source
Public
Amenities
beer garden
Building Details
Year built
1971
Building materials
Brick
Listing Agency:
Heart Land Realty
(706) 468-0707
Listed By:
Ashley Pruett · License #418921
(706) 473-9583
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 19 at 3:06AM
MLS# 10825161
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 1,296-square-foot freestanding restaurant property occupies a 0.1-acre site and is configured for restaurant and bar operations. The building includes a commercial kitchen, custom-built bar, separate dining and bar areas, and a beer garden added for outdoor seating and entertainment. Exposed brick, architectural beams, and high ceilings contribute distinctive interior character, while brick construction, electric zoned heating and cooling, and a parking lot support the existing setup.
Located at 237 W Washington Street in Downtown Monticello, the property sits just off the Square within the Central Business District. Public water and public sewer serve the site, with cable available. A privacy fence is also included among the property improvements.
Located at 237 W Washington Street in Downtown Monticello, the property sits just off the Square within the Central Business District. Public water and public sewer serve the site, with cable available. A privacy fence is also included among the property improvements.
Key Highlights
- 1,296 SF freestanding restaurant and bar property on a 0.1‑acre site
- Commercial kitchen with custom‑built bar and dedicated dining and bar areas
- Added beer garden provides outdoor seating and entertainment 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
Lease Details
Turnkey business
Opportunity
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 restaurant with a commercial kitchen, custom bar, dining area, and added beer garden.
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: 1,296 SF freestanding restaurant and bar property on a 0.1‑acre site; Commercial kitchen with custom‑built bar and dedicated dining and bar areas; Added beer garden provides outdoor seating and entertainment space
