Highway Restaurant
New
For Sale
$1,500,000
3416 Mike Padgett Highway, Augusta, GA 30906
Commercial Sale, Augusta, GA
Property Size8,349 SF
Lot Size6.00 Acres
Price / SF$179.66
Days on Market4
Property Features for 3416 Mike Padgett Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
A
Subdivision
Not In Subdivision
Directions
From I-520 East take exit 9 onto Mike Padgett Hwy. Turn right onto Mike Padgett Hwy. Turn left into the parking lot.
Standard status
Active
APN
1341069010
Size
8,349 SF
Lot size
6.00 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
1341069010
Legal Description
1341069010
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1957
Listing Agency:
VanderMorgan Realty
(706) 627-2726
Listed By:
Justin Bolin · License #285108
(706) 627-2726
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 20 at 4:06AM
MLS# 100596770
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 restaurant property includes 8,349 square feet on a 6-acre site. The improvements date to 1957 and feature electric heating. Zoning is designated A, while public water and public sewer serve the property.
Located at 3416 Mike Padgett Highway in Augusta, the property has direct highway access and on-site parking. Its commercial setting and existing improvements support restaurant use within Richmond County.
Located at 3416 Mike Padgett Highway in Augusta, the property has direct highway access and on-site parking. Its commercial setting and existing improvements support restaurant use within Richmond County.
Key Highlights
- 8,349 square feet on a 6‑acre site
- Located at 3416 Mike Padgett Highway in Augusta
- On‑site parking provided
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
$98,095
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
6.54%
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%
$1,961,900
$2.0M
Cap Rate 7%
$1,401,357
$1.4M
Cap Rate 9%
$1,089,944
$1.1M
Market Conditions
NOI Build-Up for 8,349 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
$138.3K $16.56/SF
− Vacancy
−$7.5K −$0.89/SF
EGI
$130.8K $15.67/SF
− OpEx
−$32.7K −$3.92/SF
NOI
$98.1K $11.75/SF
Area
Augusta, GA
Vacancy
5.40%
Lease Rate
$16.56 /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%
$1,961,900
Cap Rate 7%
$1,401,357
Cap Rate 9%
$1,089,944
Alternative Uses
Best Use
Specialty Retail
$1.40M
$1.23M – $1.63M
NOI $98,095 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.64M
$2.31M – $3.07M
NOI $184,469 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30906, GA
58,458
Population
24,663
Households
2.4
Avg Household Size
37
Median Age
12%
College-Educated
85%
High-School Grad
86.7 sq mi
ZIP Area
674
Density / Sq Mi
$46,159
Median Household Income
$29,218
Median Earnings
$1,051
Median Rent
$115,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with on-site parking, public water and sewer, and highway access.
Where is this conventional restaurant located?
The property is located at 3416 Mike Padgett Highway Augusta, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8,349 square feet on a 6‑acre site; Located at 3416 Mike Padgett Highway in Augusta; On‑site parking provided
