Downtown Gainesville Mixed-Use
511 Main Street SW, Gainesville, GA 30501
Two-building property in downtown Gainesville with retail and warehouse space.
Type:Commercial
Property size:
6,443 SFLot size:
0.30 AcresPrice / SF:
$291/SF- Added:
- Nov 20, 2025
- Days on Market:
- 187
- Last Refresh:
- May 11 at 12:23 am
Property Features for 511 Main Street SW
General Information
- Standard status
- Active
- Size
- 6,443 SF
- Lot size
- 0.30 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1974
Listing agent Stephen Lovett License #320687
Listing office Norton Commercial Acreage Group (770) 532-0022
Listing date Nov 20, 2025
Source Corcoran
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 Norton Commercial Acreage Group
HighLights
- Prime downtown Gainesville location with high visibility and foot traffic
- Newly renovated buildings equipped for restaurant operations
- Two‑building property totaling 6,443 SF on 0.30 acres
- Favorable zoning (G‑B) allowing for retail, restaurant, office, or investment use
- Significant 130 ft road frontage and high traffic counts on nearby parkways
- Existing TAD funds with a remaining 13‑year credit (as of 10/9/2025)
Overview
Located in downtown Gainesville, this property features two buildings on approximately 0.30 acres, offering a combined 6,443 square feet of space. The buildings have been renovated and equipped for restaurant operations, making it suitable for an owner-operator, investor, or hospitality, office, or general retail concept. The property includes 4,670 square feet at 511 Main Street, with 2,724 square feet of retail floor space, 476 square feet of office/bathrooms, 1,032 square feet for a kitchen, and 438 square feet of storage. Additionally, 509 Main Street provides 1,773 square feet of warehouse space. The property is zoned G-B (General Business) within city limits and has 130 feet of road frontage. It is situated in a visible and walkable area with access to restaurants, coffee shops, boutiques, and entertainment venues. The location offers access to Jesse Jewell Parkway and E.E. Butler Parkway. Road traffic includes 3,890 vehicles per day on Main Street, 42,800 vehicles per day on Jesse Jewell Parkway, 29,400 vehicles per day on E.E. Butler Parkway, and 4,020 vehicles per day on College Ave.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$1.04M
NOI $93,866 @ 9.00% cap · cautious / downside scenario
Moderate
$1.34M
NOI $93,866 @ 7.00% cap · market / base-case scenario
Aggressive
$1.88M
NOI $93,866 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $135.3k | $21.00 |
| − Vacancy | −$10.1k | −$1.58 |
| EGI | $125.2k | $19.43 |
| − OpEx | −$31.3k | −$4.86 |
| NOI | $93.9k | $14.57 |
6,443 SF · lease $21.00/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,866 @ 7.0% cap · market cap 5.01%
Second Best
Office B
$1.23M
$1.08M – $1.44M
NOI $86,315 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$1.80M
$1.58M – $2.11M
NOI $126,306 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
The Colored Egg Bakery ...
Bakery
Grubs Market
Grocery & Convenience Store
Location Insight
- Map
- Local Demand
- City
- Gainesville
- County
- Hall
- State
- Georgia
- Longitude
- -83.8248
- Latitude
- 34.296
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Two-building property in downtown Gainesville with retail and warehouse space.
Where is this retail space located?
The property is located at 511 Main Street SW Gainesville, GA.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Prime downtown Gainesville location with high visibility and foot traffic; Newly renovated buildings equipped for restaurant operations; Two‑building property totaling 6,443 SF on 0.30 acres
