Versatile Hull Warehouse/Industrial
For Sale
$1,600,000
308 Mill Creek Drive, Hull, GA 30646
Two warehouse/industrial buildings on 6 acres near Athens, Georgia.
Property Size10,000 SF
Lot Size6.00 Acres
Price / SF$160
Days on Market614
Property Features for 308 Mill Creek Drive
General Information
Standard status
Active
Size
10,000 SF
Lot size
6.00 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
2022
Listing Agency:
All Points Team, LLC
(828) 260-1866
Listed By:
Candi Mcclamma · License #349801
(828) 260-1866
Source:
Exitrealty
Added: Nov 23, 2024
Changed: Jul 6
Last Checked: Jul 30 at 4:50AM
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 All Points Team, LLC
Investment Insights
Based on property information with market context.
Located at 308 and 304 Mill Creek Drive in Hull, Georgia, this commercial property features two warehouse/industrial buildings totaling over 10,000 square feet of newer construction. Situated on a 6-acre lot, the property is currently used as a church and event center. The location in Madison County, which has a growth rate over 14%, offers proximity to Athens and the University of Georgia. The property's expansive grounds provide ample space for development. Potential uses include continuing its current use as a community hub, transforming it into a school or educational facility, or capitalizing on the demand for storage solutions with potential expansion. Nearby businesses and amenities enhance its appeal, providing convenience and accessibility. The property represents an investment opportunity in a rapidly growing area. The seller may be interested in leasing back, or this could be a great owner occupant acquisition seeking SBA financing.
Key Highlights
- Two newer construction warehouse/industrial buildings totaling over 10,000 sq ft.
- Located on a large 6‑acre lot with ample space for development/expansion.
- Prime investment opportunity in a rapidly growing area of Madison County (growth rate over 14%).
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.8k | $9.48 |
| − Vacancy | −$8.4k | −$0.84 |
| EGI | $86.4k | $8.64 |
| − OpEx | −$13.0k | −$1.30 |
| NOI | $73.4k | $7.34 |
10,000 SF · lease $9.48/SF/yr · vacancy 8.90% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.05M
$917.6K – $1.22M
NOI $73,408 @ 7.0% cap · market cap 4.59%
Second Best
Industrial
$870.3K
$761.5K – $1.02M
NOI $60,918 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,749 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30646, GA
7,664
Population
3,561
Households
2.2
Avg Household Size
39
Median Age
25%
College-Educated
90%
High-School Grad
36.4 sq mi
ZIP Area
211
Density / Sq Mi
$67,614
Median Household Income
$39,852
Median Earnings
$953
Median Rent
$196,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Two warehouse/industrial buildings on 6 acres near Athens, Georgia.
Where is this warehouse located?
The property is located at 308 Mill Creek Drive Hull, GA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Two newer construction warehouse/industrial buildings totaling over 10,000 sq ft.; Located on a large 6‑acre lot with ample space for development/expansion.; Prime investment opportunity in a rapidly growing area of Madison County (growth rate over 14%).
