Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    515 OLYMPIC DRIVE Athens, GA 30601

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,000,000

    Land engineered for self-storage near Athens Loop 10 interchange.

    Type:Land
    Added:
    Mar 5, 2026
    Days on Market:
    30
    Last Refresh:
    Apr 2 at 1:20 am

    Property Features for 515 OLYMPIC DRIVE

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Grant Whitworth
    Grant Whitworth

    Listing agent Grant Whitworth License #245927

    Listing office Whitworth Land Corporation

    Listing date Mar 5, 2026

    Source Whitworthland

    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 Whitworth Land Corporation

    Overview

    Engineered Self-Storage Development Site

    This property is fully engineered for a 213,585 square foot self-storage facility. The site, located at 515 Olympic Drive on the east side of Athens, is partially wooded, with a portion already cleared and rough graded by the previous owner. All utilities are available to the site, which features moderate topography. Trail Creek runs along the northeast property line. The property is located just east of the newly constructed interchange on Athens Loop 10, providing easy access. It is also located within minutes of downtown Athens and the University of Georgia, situated in Athena Industrial Park, which hosts numerous large employers. All due diligence materials, including Phase One, geotech, surveys, topo, construction plans, and architectural plans, are available upon request.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    Clarke
    State
    Georgia
    Longitude
    -83.3524
    Latitude
    33.9693

    Nearby Similar for Sale

    • $360,000
      1,302 SF

      Renovated Commercial Building on Eastside

      Turnkey, renovated 1,302 sq ft commercial building on 0.41 acres.
      710 Gaines School Road, Athens, GA 30605
      View Details
    • $420,000
      3,700 SF

      Fully Leased Athens Triplex

      Income-producing triplex in Athens, generating $3,100 monthly.
      150 Creekwood Drive, Athens, GA 30606
      View Details
    • $800,000
      1,464 SF

      Iconic Athens Commercial Property

      Freestanding commercial building with rich history and redevelopment potential.
      1016 E Broad Street, Athens, GA 30601
      View Details
    • $1,250,000

      Corner Lot with Redevelopment Potential

      High-visibility corner lot suitable for redevelopment or business use.
      165 Spring Valley Road, Athens, GA 30605
      View Details
    • $950,000

      Prime Development Land in Athens

      2.78-acre development opportunity near downtown Athens and UGA.
      1934 Lexington Road, Athens, GA 30605
      View Details
    • $884,000

      Medical Office Space in Athens

      Flexible medical office space in established Bishop Professional Park.
      700 Sunset Drive, Athens, GA 30606
      View Details
    • $1,150,000
      4,174 SF

      High-Visibility Commercial Property, Athens

      Prime commercial opportunity in a high-traffic Athens corridor.
      2000 W Broad Street, Athens, GA 30606
      View Details
    • $399,900

      Athens Land Near "10 Loop"

      8+ acres in Athens, GA, with industrial and commercial zoning.
      550 Olympic Drive, Athens, GA 30601
      View Details
    • $435,000
      3,762 SF

      East Athens Tri-plex Investment

      Tri-plex in East Athens with leasing and re-lease opportunities.
      250 Highland Park Drive, Athens, GA 30605
      View Details
    • $1,250,000

      Prime Development Site on Commerce Road

      High-visibility 6.15-acre site suitable for retail or mixed-use development.
      2850 Commerce Road, Athens, GA 30607
      View Details
    • $1,250,000

      Prime Development Site on Commerce Road

      6.15 acre development site with high visibility in Athens.
      2850 Commerce Road, Athens, GA 30607
      View Details
    • $275,000
      1,620 SF

      Partially Updated Income-Producing Duplex

      Duplex with immediate income and future upside potential.
      230/232 Rustwood Drive, Athens, GA 30606
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land engineered for self-storage near Athens Loop 10 interchange.
    Where is this commercial land located?
    The property is located at 515 OLYMPIC DRIVE Athens, GA.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Fully engineered for a 213,585 SF self storage facility.; Located at interchange on Loop 10 for easy access.; Minutes from downtown Athens and UGA.
    (706) 548-9300
    We can help!
    Listing Contact
    Grant Whitworth
    Grant Whitworth
    Real Estate License ID: 245927
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!