Fully Occupied
For Sale
$234,900
517 E Robinson Ave, Grovetown, GA 30813
Three leased units include two-bedroom and one-bedroom layouts, with updated finishes in select apartments.
Property Size2,372 SF
Price / SF$99.03
Days on Market102
Property Features for 517 E Robinson Ave
General Information
Standard status
Active
Size
2,372 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1955
Listing Agency:
Meybohm Real Estate - Evans
(706) 364-7653
Listed By:
Andrew J Williamson · License #389099
Source:
Searchgreateraugustahomes
Added: May 9
Changed: Aug 16
Last Checked: Aug 18 at 10:12AM
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 Meybohm Real Estate - Evans
Investment Insights
Based on property information with market context.
This 2,372-square-foot triplex, built in 1955, contains three tenant-occupied apartments. The unit mix includes two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. Unit A has recently received modern finish updates, while Unit C was renovated before its current tenant moved in.
The property is located at 517 E Robinson Ave in Grovetown, Georgia, within Columbia County. It offers access to Fort Gordon and is currently fully occupied, providing rental income from all three residences.
The property is located at 517 E Robinson Ave in Grovetown, Georgia, within Columbia County. It offers access to Fort Gordon and is currently fully occupied, providing rental income from all three residences.
Key Highlights
- Three‑unit triplex with all apartments currently occupied
- 2,372 square feet; built in 1955
- Unit mix includes two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
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
$21,487
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
9.15%
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%
$429,740
$429.7K
Cap Rate 7%
$306,957
$307.0K
Cap Rate 9%
$238,744
$238.7K
Market Conditions
NOI Build-Up for 2,372 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
$42.7K $18.00/SF
− Vacancy
−$3.6K −$1.53/SF
EGI
$39.1K $16.47/SF
− OpEx
−$17.6K −$7.41/SF
NOI
$21.5K $9.06/SF
Area
Columbia County, GA
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$429,740
Cap Rate 7%
$306,957
Cap Rate 9%
$238,744
Alternative Uses
Best Use
Multifamily LT 5
$332.3K
$290.8K – $387.7K
NOI $23,262 @ 7.0% cap · market cap 9.90%
Second Best
Apartment 5plus
$307.0K
$268.6K – $358.1K
NOI $21,487 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$748.7K
$655.1K – $873.5K
NOI $52,409 @ 7.0% cap · market cap 22.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 30813, GA
49,376
Population
18,626
Households
2.7
Avg Household Size
33
Median Age
31%
College-Educated
91%
High-School Grad
50.4 sq mi
ZIP Area
980
Density / Sq Mi
$83,890
Median Household Income
$49,871
Median Earnings
$1,404
Median Rent
$270,300
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Triplex - Three leased units include two-bedroom and one-bedroom layouts, with updated finishes in select apartments.
Where is this triplex located?
The property is located at 517 E Robinson Ave Grovetown, GA.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Three‑unit triplex with all apartments currently occupied; 2,372 square feet; built in 1955; Unit mix includes two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
