Former Pharmacy Retail
3215 Hwy 278, Covington, GA 30014
For Sale
Contact for pricing
11,000 SF former pharmacy available for sale.
Property Size11,000 SF
Price / SF$318.18
Days on Market457
Property Features for 3215 Hwy 278
General Information
Standard status
Size
Property subtype
Investment Type
Listing Agency:
Cresa
Listed By:
Chandler Pope · License GA #358660
Source:
Crexi
Added: Aug 11, 2025
Changed: Oct 26
Last Checked: Nov 10 at 5:35AM
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 Cresa
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is an 11,000 square foot commercial property, formerly a pharmacy, available for sale.
Key Highlights
- 11,000 SF of space available
- Former pharmacy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$176,774
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,535,480
$3.5M
Cap Rate 7%
$2,525,343
$2.5M
Cap Rate 9%
$1,964,156
$2.0M
Market Conditions
NOI Build-Up for 11,000 SF
Gross rent
$253.4K $23.04/SF
− Vacancy
−$17.7K −$1.61/SF
EGI
$235.7K $21.43/SF
− OpEx
−$58.9K −$5.36/SF
NOI
$176.8K $16.07/SF
Area
Newton County, GA
Vacancy
7.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,535,480
Cap Rate 7%
$2,525,343
Cap Rate 9%
$1,964,156
Alternative Uses
Best Use
Specialty Retail
$2.53M
$2.21M – $2.95M
NOI $176,774 @ 7.0% cap · market cap 5.05%
Second Best
Retail
$2.21M
$1.93M – $2.58M
NOI $154,719 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$3.07M
$2.69M – $3.59M
NOI $215,244 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
89k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Apparel 33%
Dining 15%
Home Improvements & Furnishings 5%
Raceway
Shops & Services
24,202 visits/mo
0.5 miles
Bealls
Apparel
19,829 visits/mo
0.2 miles
Stevi B's Pizza
Dining
7,729 visits/mo
0.2 miles
Hibbett Sports
Apparel
6,420 visits/mo
0.1 miles
Wingstop
Dining
5,701 visits/mo
0.5 miles
Demographics for 30014, GA
39,247
Population
16,159
Households
2.4
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
120.7 sq mi
ZIP Area
325
Density / Sq Mi
$71,055
Median Household Income
$37,714
Median Earnings
$1,199
Median Rent
$253,900
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
Similar Off Market Nearby
- Peoples Home Medical — 1174 Monticello St SW, Covington, GA 30014
- Blink N Blush — 1123 Church St #102-104, Covington, GA 30014
- Publix Pharmacy at Covington Town Center — 43001 Town Center Blvd, Covington, GA 30014
- Covington Nutrition (Morgan Plaza) — 2155 Pace St, Covington, GA 30014
- Drugs for Less — 4140 Tate St NE, Covington, GA 30014
Frequently Asked Questions
What type of property is this?
Drug store - 11,000 SF former pharmacy available for sale.
Where is this drug store located?
The property is located at 3215 Hwy 278 Covington, GA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 11,000 SF of space available; Former pharmacy
