Restaurant and Retail Live-Work
For Sale
$1,274,000
3565 GA HIGHWAY 85, Ellerslie, GA 31807
Commercial Sale, Ellerslie, GA
Property Size3,645 SF
Lot Size4.19 Acres
Price / SF$349.52
Days on Market347
Property Features for 3565 GA HIGHWAY 85
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
20
Parking features
Parking Lot
Security features
Security
Lot features
Corner Lot
Directions
Use GPS
Standard status
Active
APN
081A041
Size
3,645 SF
Lot size
4.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3274
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Cooling system
Window Unit(s)
Water source
Public
Amenities
smokehouse
event space
Building Details
Year built
1940
Flooring type
Hardwood
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Maximum One Premier Realtors
(470) 400-9877
Listed By:
Mary Luhring
(404) 507-2296
Added: Sep 8, 2025
Changed: Aug 19
Last Checked: Aug 20 at 4:06AM
MLS# 10600339
Copyright © 2026 Georgia Multiple Listing Service. 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.
A renovated 1900’s farmhouse offers a combined live-work configuration with a lower level containing approximately 2,300 sf of restaurant/retail space and an upper level with approximately 1,500 sf of additional space that includes separate rooms ready to remodel. The property’s layout supports business operation on the main level while allowing flexibility for living quarters or other uses upstairs. The kitchen has been expanded with recent renovations, and there is ample outdoor seating area that can be used for guest dining and events.
The property is located on GA Highway 85 at a major signalized intersection with access designed for customer flow, including five entrances and approximately 680 feet of road frontage on three sides. The site is positioned across from the newly opened Ellerslie Park and near the historic depot and fire station.
Restaurant/retail readiness includes a 1,000-gallon grease trap, 1,500 gallon septic, two 1,500 aerobic treatment units, and a 400 ft drain line, along with a 400+ amp electrical service. The property also includes a separate brick smokehouse with a built-in bricked open pit grill and chimney. A newer kitchen addition is wired with shunt breakers, and an optional vent hood system with exhaust, make up air, and fire suppression system is available. New roof was installed in 2025. Optional restaurant equipment and furnishings may be purchased for $75,000 with a full-price offer, and a transferable beer and wine license is available with an approved application.
The property is located on GA Highway 85 at a major signalized intersection with access designed for customer flow, including five entrances and approximately 680 feet of road frontage on three sides. The site is positioned across from the newly opened Ellerslie Park and near the historic depot and fire station.
Restaurant/retail readiness includes a 1,000-gallon grease trap, 1,500 gallon septic, two 1,500 aerobic treatment units, and a 400 ft drain line, along with a 400+ amp electrical service. The property also includes a separate brick smokehouse with a built-in bricked open pit grill and chimney. A newer kitchen addition is wired with shunt breakers, and an optional vent hood system with exhaust, make up air, and fire suppression system is available. New roof was installed in 2025. Optional restaurant equipment and furnishings may be purchased for $75,000 with a full-price offer, and a transferable beer and wine license is available with an approved application.
Key Highlights
- 4,300 SF +/- 1900s farmhouse with 2,300 SF +/- restaurant/retail space on the lower level and 1,500 SF upstairs with remodel‑ready rooms
- 4.19 acres with 680+ feet of road frontage on three sides and 5 property entrances for strong access and exposure
- Restaurant/BBQ‑ready commercial kitchen: 1,000‑gallon grease trap, 1,500‑gallon septic, 2 x 1,500 aerobic treatment units, and 400+ amp electrical service
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
$47,570
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
3.73%
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%
$951,400
$951.4K
Cap Rate 7%
$679,571
$679.6K
Cap Rate 9%
$528,556
$528.6K
Market Conditions
NOI Build-Up for 3,645 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
$66.5K $18.24/SF
− Vacancy
−$3.1K −$0.84/SF
EGI
$63.4K $17.40/SF
− OpEx
−$15.9K −$4.35/SF
NOI
$47.6K $13.05/SF
Area
Harris 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%
$951,400
Cap Rate 7%
$679,571
Cap Rate 9%
$528,556
Alternative Uses
Best Use
Specialty Retail
$679.6K
$594.6K – $792.8K
NOI $47,570 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$815.6K
$713.6K – $951.5K
NOI $57,090 @ 7.0% cap · market cap 4.48%
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
Yes
Utilities to site
Yes
Grease trap
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
11k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
10,823 visits/mo
0.2 miles
Demographics for 31807, GA
2,855
Population
940
Households
3
Avg Household Size
42
Median Age
24%
College-Educated
96%
High-School Grad
13.4 sq mi
ZIP Area
213
Density / Sq Mi
$103,547
Median Household Income
$52,880
Median Earnings
$732
Median Rent
$290,000
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 - Renovated farmhouse with separate lower restaurant/retail space and upper level areas ready to remodel, plus substantial outdoor seating.
Where is this conventional restaurant located?
The property is located at 3565 GA HIGHWAY 85 Ellerslie, GA.
What is the asking price?
The asking price for this property is $1,274,000.
What are key features of this property?
This property features: 4,300 SF +/- 1900s farmhouse with 2,300 SF +/- restaurant/retail space on the lower level and 1,500 SF upstairs with remodel‑ready rooms; 4.19 acres with 680+ feet of road frontage on three sides and 5 property entrances for strong access and exposure; Restaurant/BBQ‑ready commercial kitchen: 1,000‑gallon grease trap, 1,500‑gallon septic, 2 x 1,500 aerobic treatment units, and 400+ amp electrical service
