Rural Land with Renovation
For Sale
$328,700
Pending
336 Piney Grove Road, Comer, GA 30629
Land, Comer, GA
Property Size1,441 SF
Lot Size32.87 Acres
Days on Market55
Property Features for 336 Piney Grove Road
General Information
Property type
Land
Property subtype
Other
Zoning
A2
Zoning description
Agricutural
Directions
From Athens, take US-29 N toward Danielsville/Comer. Continue approximately 18 miles, then turn right onto Piney Grove Road. Travel approximately 1 mile to 336 Piney Grove Rd, which will be on the left. Look for the sign.
Standard status
Pending
APN
110-048
Size
1,441 SF
Lot size
32.87 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HOUSE/32.87 ACRES
Tax Annual Amount
1999
Legal Description
HOUSE/32.87 ACRES
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Water source
Well, Private
Building Details
Year built
1990
Floors in Building
1
Building materials
Wood Siding
Roof type
Metal
Listing Agency:
Keller Williams Greater Athens · Keller Williams Realty
(706) 316-2900
Listed By:
Haley Player · License #425198
(678) 778-3065
Added: Jul 13
Changed: Aug 27
Last Checked: Sep 5 at 8:06AM
MLS# CL360574
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This rural property in Oglethorpe County offers approximately 32.87 acres with a main residence built in 1990. The home is approximately 1,441 square feet and includes 2 bedrooms and 1 full bathroom, along with a metal roof, a fireplace, wood exterior, and a crawlspace foundation. The residence is in need of repairs and updating.
Improvements on the property include a 30-by-45-foot semi-enclosed pole shed with a concrete slab built in 2020, and a 24-by-24-foot storage building built in 2000. A stream runs along the back of the property.
Access is off Piney Grove Road, and the property is located about 20 minutes from Crawford and roughly 35 to 40 minutes from downtown Athens. Zoning is listed as A2.
Improvements on the property include a 30-by-45-foot semi-enclosed pole shed with a concrete slab built in 2020, and a 24-by-24-foot storage building built in 2000. A stream runs along the back of the property.
Access is off Piney Grove Road, and the property is located about 20 minutes from Crawford and roughly 35 to 40 minutes from downtown Athens. Zoning is listed as A2.
Key Highlights
- Approximately 32.87‑acre property in Oglethorpe County with a stream running along the back
- Main residence built in 1990 with approximately 1,441 SF, 2 bedrooms, and 1 full bathroom
- Metal roof and wood siding exterior; fireplace in the home; crawlspace foundation
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
$16,126
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
4.91%
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%
$322,520
$322.5K
Cap Rate 7%
$230,371
$230.4K
Cap Rate 9%
$179,178
$179.2K
Market Conditions
NOI Build-Up for 1,441 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
$31.1K $21.60/SF
− Vacancy
−$1.8K −$1.25/SF
EGI
$29.3K $20.35/SF
− OpEx
−$13.2K −$9.16/SF
NOI
$16.1K $11.19/SF
Area
Madison County, GA
Vacancy
5.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
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%
$322,520
Cap Rate 7%
$230,371
Cap Rate 9%
$179,178
Alternative Uses
Best Use
Apartment 5plus
$230.4K
$201.6K – $268.8K
NOI $16,126 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$347.4K
$304.0K – $405.3K
NOI $24,317 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 30629, GA
4,950
Population
1,975
Households
2.5
Avg Household Size
41
Median Age
26%
College-Educated
79%
High-School Grad
74.4 sq mi
ZIP Area
67
Density / Sq Mi
$58,806
Median Household Income
$36,934
Median Earnings
$911
Median Rent
$173,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Roughly 33 acres in Oglethorpe County with a 2-bedroom residence needing repairs and multiple outbuildings.
Where is this residential land & home lot located?
The property is located at 336 Piney Grove Road Comer, GA.
What is the asking price?
The asking price for this property is $328,700.
What are key features of this property?
This property features: Approximately 32.87‑acre property in Oglethorpe County with a stream running along the back; Main residence built in 1990 with approximately 1,441 SF, 2 bedrooms, and 1 full bathroom; Metal roof and wood siding exterior; fireplace in the home; crawlspace foundation
