Prime Land for
For Sale
$995,000
2434 & 2438 Mars Hill Rd, Watkinsville, GA 30677
Development land suitable for office, hotel, or retail.
Property Size3,148 SF
Price / SF$316.07
Days on Market168
Property Features for 2434 & 2438 Mars Hill Rd
General Information
Standard status
Active
Size
3,148 SF
Property subtype
Land
Listing Agency:
Whitworth Land Corporation
(404) 509-3543
Listed By:
Grant Whitworth · License #245927
(404) 509-3543
Source:
Whitworthland
Added: Mar 5
Changed: Aug 9
Last Checked: Aug 20 at 4:44AM
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 Whitworth Land Corporation
Investment Insights
Based on property information with market context.
This property is suitable for an office, hotel, or retail development. The land is mostly wooded, featuring a creek along the western property line. Existing structures include a 3,148 square foot ranch home and several storage buildings. Access is available on Mars Hill Road, along with a 100-foot easement providing access to Daniels Bridge Road. The property is situated in the southeast quadrant of Daniels Bridge Road and Mars Hill Road, with a curb cut located on the recently opened four-lane Mars Hill Road. It benefits from access to both Daniels Bridge Road and Mars Hill Road in a high-growth area, making it a location for office, retail, or hotel purposes.
Key Highlights
- High growth area suitable for office, retail, or hotel development.
- Access to both Mars Hill Rd and Daniels Bridge Rd.
- Curb cut located on 4‑lane Mars Hill Rd.
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
$40,747
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
4.10%
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%
$814,940
$814.9K
Cap Rate 7%
$582,100
$582.1K
Cap Rate 9%
$452,744
$452.7K
Market Conditions
NOI Build-Up for 3,148 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
$68.0K $21.60/SF
− Vacancy
−$13.7K −$4.34/SF
EGI
$54.3K $17.26/SF
− OpEx
−$13.6K −$4.31/SF
NOI
$40.7K $12.94/SF
Area
Oconee County, GA
Vacancy
20.10%
Lease Rate
$21.60 /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%
$814,940
Cap Rate 7%
$582,100
Cap Rate 9%
$452,744
Alternative Uses
Best Use
Office B
$582.1K
$509.3K – $679.1K
NOI $40,747 @ 7.0% cap · market cap 4.10%
Second Best
Retail
$508.3K
$444.7K – $593.0K
NOI $35,579 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$758.9K
$664.0K – $885.4K
NOI $53,122 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 30677, GA
20,579
Population
7,797
Households
2.6
Avg Household Size
41
Median Age
55%
College-Educated
97%
High-School Grad
122.2 sq mi
ZIP Area
168
Density / Sq Mi
$103,165
Median Household Income
$49,399
Median Earnings
$1,403
Median Rent
$394,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Development land suitable for office, hotel, or retail.
Where is this commercial land located?
The property is located at 2434 & 2438 Mars Hill Rd Watkinsville, GA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: High growth area suitable for office, retail, or hotel development.; Access to both Mars Hill Rd and Daniels Bridge Rd.; Curb cut located on 4‑lane Mars Hill Rd.
