For Sale
$449,000
311 Vernon St, Lagrange, GA 30240
Convenience store and smoke shop in corridor mixed-use zoning (16-CR-MX) with wheelchair-accessible entrance and public water.
Property Size2,478 SF
Lot Size0.25 Acres
Price / SF$181.19
Days on Market48
Property Features for 311 Vernon St
General Information
Standard status
Active
Property type
Grocery and convenience stores, Storefront properties, Retail properties & Spaces
Size
2,478 SF
Lot size
0.25 Acres
Building Details
Year Built
1960
Year Renovated
2010
Buildings
1
Stories
1
Units
1
Listed By:
Mukeshkumar
(201) 912-7779
Added: Aug 11
Investment Insights
Based on property information with market context.
Key Highlights
- Investment Highlights
- Exceptional Traffic & Signage Equity: Positioned on a high‑exposure corridor with 16,500+ vehicles passing daily. The prominent corner placement ensures dual‑street visibility and unmatched branding power.
- Superior Ingress/Egress: Strategic corner lot design provides multiple points of entry and exit, a critical logistical advantage for high‑volume, convenience‑oriented tenants.
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
$32,340
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
7.20%
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%
$646,800
$646.8K
Cap Rate 7%
$462,000
$462.0K
Cap Rate 9%
$359,333
$359.3K
Market Conditions
NOI Build-Up for 2,478 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
$45.2K $18.24/SF
− Vacancy
−$2.1K −$0.84/SF
EGI
$43.1K $17.40/SF
− OpEx
−$10.8K −$4.35/SF
NOI
$32.3K $13.05/SF
Area
Troup County, GA
Vacancy
4.60%
Lease Rate
$18.24 /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%
$646,800
Cap Rate 7%
$462,000
Cap Rate 9%
$359,333
Alternative Uses
Best Use
Specialty Retail
$462.0K
$404.3K – $539.0K
NOI $32,340 @ 7.0% cap · market cap 7.20%
Second Best
Retail
$431.2K
$377.3K – $503.1K
NOI $30,184 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$554.5K
$485.2K – $646.9K
NOI $38,812 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
104k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 25%
Leisure 8%
Groceries 7%
Shell
Shops & Services
11,726 visits/mo
0.1 miles
Your Pie
Dining
9,338 visits/mo
0.2 miles
Wendy's
Dining
9,312 visits/mo
0.1 miles
AMC CLASSIC LaGrange 10
Leisure
8,728 visits/mo
0.4 miles
Bank of America
Shops & Services
8,401 visits/mo
0.3 miles
Demographics for 30240, GA
30,119
Population
12,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
139.6 sq mi
ZIP Area
216
Density / Sq Mi
$59,521
Median Household Income
$40,611
Median Earnings
$1,035
Median Rent
$221,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Piggly Wiggly — 505 S Greenwood St, LaGrange, GA 30240
- Lupitas Latino Supermarket — 310 Greenville St, LaGrange, GA 30241
- Mi Pueblito Supermarket Deli & Taqueria — 310 Greenville St, LaGrange, GA 30241
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Convenience store and smoke shop in corridor mixed-use zoning (16-CR-MX) with wheelchair-accessible entrance and public water.
Where is this grocery and convenience store located?
The property is located at 311 Vernon St Lagrange, 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: Investment Highlights; Exceptional Traffic & Signage Equity: Positioned on a high‑exposure corridor with 16,500+ vehicles passing daily. The prominent corner placement ensures dual‑street visibility and unmatched branding power.; Superior Ingress/Egress: Strategic corner lot design provides multiple points of entry and exit, a critical logistical advantage for high‑volume, convenience‑oriented tenants.
