Building Details

Building Size 2,546 SF

Year Built 2025

Stories 1

Listing Agency: COLDWELL BANKER FREE REALTY d***@cbfreerealty.com Show Phone

Listed By: Danny Evans Show Phone

Source: Cbcworldwide

Added: Mar 5 Changed: Aug 8 Last Checked: Aug 8 at 6:05AM

Report an Issue

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 COLDWELL BANKER FREE REALTY

Investment Insights

Based on property information with market context.

This commercial property, formerly the Henderson Corner Market, is situated at the intersection of Highway 26 and Highway 41 South. The property is located 1.2 miles from I-75 and minutes from Perry. The site encompasses 0.7 acres and offers visibility and accessibility for both local and traveling customers.

Key Highlights

• Prime corner location at the intersection of Highway 26 and Highway 41 South.
• Excellent visibility and easy access for customers.
• Located only 1.2 miles from I‑75.

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

$26,638

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

7.83%

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%

$532,760 $532.8K

Cap Rate 7%

$380,543 $380.5K

Cap Rate 9%

$295,978 $296.0K

Market Conditions

NOI Build-Up for 2,546 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

$38.2K $15.00/SF

− Vacancy

−$2.7K −$1.05/SF

EGI

$35.5K $13.95/SF

− OpEx

−$8.9K −$3.49/SF

NOI

$26.6K $10.46/SF

Area

Houston County, GA

Vacancy

7.00%

Lease Rate

$15.00 /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%

$532,760

Cap Rate 7%

$380,543

Cap Rate 9%

$295,978

Alternative Uses

Best Use

Retail

$455.7K

$398.7K – $531.6K (±1% cap)

NOI $31,897 @ 7.0% cap · market cap 9.38%

Second Best

Specialty Retail

$380.5K

$333.0K – $444.0K (±1% cap)

NOI $26,638 @ 7.0% cap · market cap 7.83%

Theoretical Best

Office A

$549.5K

$480.8K – $641.1K (±1% cap)

NOI $38,466 @ 7.0% cap · market cap 11.31%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Grocery & Convenience Store Restaurant Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 31025, GA

1,651

Population

531

Households

3.1

Avg Household Size

42

Median Age

31%

College-Educated

92%

High-School Grad

66.5 sq mi

ZIP Area

25

Density / Sq Mi

$138,125

Median Household Income

$73,484

Median Earnings

$261,300

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Prime commercial property with high visibility and easy access.

Where is this grocery and convenience store located?

The property is located at 2802 S Hwy 41 Elko, GA.

What is the asking price?

The asking price for this property is $340,000.

What are key features of this property?

This property features: Prime corner location at the intersection of Highway 26 and Highway 41 South.; Excellent visibility and easy access for customers.; Located only 1.2 miles from I‑75.