Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Lakemont Multifamily Investment Opportunity Title is generated by Realmo AI

    240-0 Varnes Lane, Lakemont, GA 30552

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Multifamily property with 21 units, currently tenant occupied.

    Type:Mixed Use, Land
    Added:
    Oct 21, 2024
    Days on Market:
    578
    Last Refresh:
    May 12 at 9:49 pm

    Property Features for 240-0 Varnes Lane

    General Information

    Standard status
    Active
    Property subtype
    Mixed Use, Land

    Building Details

    Year Built
    1986

    We can help!

    Listing Contact
    Syed Firoz

    Listing agent Syed Firoz

    Listing office Virtual Properties Realty.com

    Listing date Oct 21, 2024

    Source Crexi

    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 Virtual Properties Realty.com

    HighLights

    • Zoned Multi‑Family: Ideal for investment and rental income.
    • 21 Units Across Multiple Buildings: Substantial income potential from a diverse portfolio.
    • Tenant Occupied: Immediate cash flow upon purchase.
    • Combined Listing of 3 Properties: 240 Varnes Lane, Lakemont, GA; 12480# Highway 27, Summerville; 102 Asbell Street, Irwinton.
    • Diverse Lifestyle Options: Offers city, suburban, and rural living experiences.
    • Year Built 1986: Relatively modern construction.

    Overview

    This multifamily property, zoned for such use, comprises a combination of multiple listings featuring multi-quad and multiple buildings, totaling 21 units. All units are currently tenant occupied. The property includes listings 7464136 (240 Varnes Lane, Lakemont, GA), 7462742 (12480# Highway 27, Summerville) and 7459993 (102 Asbell Street, Irwinton).
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Hotel & Motel Gym & Fitness Center Department Store Skin Care Clinic Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakemont
    County
    Rabun
    State
    Georgia
    Longitude
    -83.40992
    Latitude
    34.788418

    Nearby Similar for Sale

    • $32,500

      Lakemont, GA Land Opportunity

      Two lots near US National Forest with mountain views.
      Long Mountain Drive lot: 1 & 3, Lakemont, GA 30552
      View Details
    • $1,400,000

      Lakemont Land with River Frontage

      7.84+/- acres with 2,500+ feet of Tallulah River frontage.
      23 Joy Bridge Road, Lakemont, GA 30552
      View Details
    • $79,000

      Lakemont, GA Land For Sale

      1.58-acre lot near Lake Rabun in gated community.
      Rabun Bluffs Drive, Lakemont, GA 30552
      View Details
    • $1,999,999

      142 Acres Near Lake Rabun

      142+/- acres near Lake Rabun, perfect for development or dream home.
      11094 Old 441 S, Lakemont, GA 30552
      View Details
    • $1,999,999

      142 Acres Near Lake Rabun

      142+/- acres near Lake Rabun, perfect for development or dream home.
      11094 Old 441 S, Lakemont, GA 30552
      View Details
    • $599,000

      Lakemont Land with Homestead Potential

      Expansive acreage ideal for homesteading with workshop and garden spots.
      1994 Camp Creek Road, Lakemont, GA 30552
      View Details
    • $89,000

      Lakemont, GA Residential Lot

      6.65-acre residential lot with seasonal mountain views.
      552 Long Laurel Ridge 6.65 acres lot: 2, Lakemont, GA 30552
      View Details
    • $1,999,999

      Lakemont Land Near Lake Rabun

      142+/- acres near Lake Rabun, perfect for development or dream home.
      11094 Old 441 S, Lakemont, GA 30552
      View Details
    • $499,000

      Lakemont Triplex: Renovated Investment Opportunity

      Renovated Lakemont triplex near Lake Rabun, ideal for investors.
      228 Varnes Lane, Lakemont, GA 30552
      View Details
    • $1,999,999

      142 Acres Near Lake Rabun

      142+/- acres near Lake Rabun, perfect for development or dream home.
      11094 Old 441 S, Lakemont, GA 30552
      View Details
    • $499,000

      Renovated Multifamily Property in Lakemont

      Upgraded triplex in Lakemont, GA, ideal for investors.
      228 Varnes Lane, Lakemont, GA 30552
      View Details
    • $450,000

      Renovated Duplex in Lakemont

      Upgraded duplex near Lake Rabun, ideal for investors.
      230 Varnes Lane, Lakemont, GA 30552
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multifamily property with 21 units, currently tenant occupied.
    Where is this multifamily property located?
    The property is located at 240-0 Varnes Lane Lakemont, GA.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: Zoned Multi‑Family: Ideal for investment and rental income.; 21 Units Across Multiple Buildings: Substantial income potential from a diverse portfolio.; Tenant Occupied: Immediate cash flow upon purchase.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Syed Firoz
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    240-0 Varnes Lane, Lakemont, GA 30552
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!