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    Historic Monticello Hospitality Venue Title is generated by Realmo AI

    421 E Greene Street, Monticello, GA 31064

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    Claim this Listing
    For Sale
    $795,000

    MULTI_FAMILY - Monticello, GA

    Lot size:
    1.85 Acres
    Added:
    May 13, 2026
    Days on Market:
    10
    Last Refresh:
    May 22 at 7:06 pm

    Property Features for 421 E Greene Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    8
    Parking features
    Carport, Off Street, Garage
    Fireplace
    1
    Standard status
    Active
    APN
    M05B033
    Lot size
    1.85 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6078

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Central, Forced Air
    Cooling system
    Ceiling Fan(s), Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1820
    Floors in Building
    2
    Number of units
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Shatima Tankson

    Listing agent Shatima Tankson License #367733

    Listing office Keller Williams Atlanta Classic 3800 Camp Creek Parkway, Bldg. 1800, Suite 100, Atlanta, GA

    Listing date May 13, 2026

    MLS# 10769589 Listing URL

    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.

    HighLights

    • Historic Reese Hall Estate: Oldest standing home in Monticello, GA, with National Historic Registration and Georgia Historical Marker.
    • Operating Blaque Butterfly Bed + Breakfast Hospitality Venue: Immediate income potential as an award‑winning entertainment venue.
    • Fully equipped Commercial Grade Catering Kitchen and Restaurant Style Sun Room.
    • Multiple rentable living quarters: Features an ensuite hidden living quarters on the main level and 4 additional rentable quarters upstairs.
    • Versatile Entertainment Spaces: Includes parlors, a large dining area, great room, keeping room, living room spaces, courtyard, and upper‑level deck.
    • Historic Charm: Colonial pillars, large front porch, and wrap‑around green space.

    Overview

    The Historic Reese Hall Estate, currently operating as the Blaque Butterfly Bed + Breakfast Hospitality Venue, presents a real estate and business opportunity. Recognized as an award-winning entertainment venue, the property is recorded as the oldest standing home in Monticello, GA. The property offers immediate income potential with a fully equipped commercial-grade catering kitchen, a restaurant-style sunroom, a courtyard, outdoor entertainment spaces, and an upper-level deck. The property has National Historic Registration and a Georgia Historical Marker. The main level features an ensuite hidden living quarters. Four additional rentable living quarters are located upstairs, along with three bathing areas. Entertainment areas include window-filled parlors, a large dining area, a great room, a keeping room, and living room spaces. Historic Colonial Pillars encase a large front porch, with wrap-around green space. The property is suited for hospitality use, residential use, or a combination of both. The property sits on a 1.85-acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Blaque Butterfly at Reese ... Hotel & Motel

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monticello
    County
    Jasper
    State
    Georgia
    Longitude
    -83.679352
    Latitude
    33.303411

    FAQs

    What type of property is this?
    Bed & breakfast - Historic estate operating as a bed and breakfast hospitality venue.
    Where is this bed & breakfast located?
    The property is located at 421 E Greene Street Monticello, GA.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: Historic Reese Hall Estate: Oldest standing home in Monticello, GA, with National Historic Registration and Georgia Historical Marker.; Operating Blaque Butterfly Bed + Breakfast Hospitality Venue: Immediate income potential as an award‑winning entertainment venue.; Fully equipped Commercial Grade Catering Kitchen and Restaurant Style Sun Room.
    (404) 564-9500
    We can help!
    Listing Contact
    Shatima Tankson
    Real Estate License ID: 367733
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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