Ranch Acreage with
For Sale
Under Contract
$365,000
5180 Price Mill Road, Bishop, GA 30621
Land, Bishop, GA
Property Size960 SF
Lot Size4.66 Acres
Price / SF$380.21
Days on Market173
Property Features for 5180 Price Mill Road
General Information
Property type
Land
Property subtype
Single Family Residence
Rooms
Family Room
Patio and Porch features
Deck, Porch
Interior features
Breakfast Area
Exterior features
Deck
Appliances
Dishwasher, Electric Water Heater, Oven, Range, Refrigerator
Directions
From Athens, Hwy 441S to Bishop. Right on Price Mill Road. How will be on left.
Standard status
Active Under Contract
APN
A 08 004 FC
Size
960 SF
Lot size
4.66 Acres
Taxes and HOA fees
Tax Description
DB 1787; PG 418
Legal Description
DB 1787; PG 418
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Private, Well
Building Details
Year built
1998
Floors in Building
1
Building materials
Masonite
Roof type
Asphalt
Architectural style
Ranch
Listing Agency:
Coldwell Banker Upchurch Realty
(706) 543-4000
Listed By:
Ashleigh Baker · License #175060
(706) 207-0691
Added: Mar 1
Changed: Aug 21
Last Checked: Aug 21 at 4:06PM
MLS# CL351651
Copyright © 2026 Hive MLS. 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.
This ranch acreage includes 4.66 acres and a 2-bedroom, 1-bath cottage. The home features luxury vinyl plank flooring throughout, and the property also has a shed and a pole barn that can support storage or outdoor uses. Updates noted in the listing include a newer roof, HVAC, and water heater, each less than five years old.
The property is located in Oconee County, near the UGA Equestrian Center, with an address at 5180 Price Mill Road in Bishop, GA 30621.
Lot size is listed at 4.66 acres, and the property size is shown as 960 square feet.
The property is located in Oconee County, near the UGA Equestrian Center, with an address at 5180 Price Mill Road in Bishop, GA 30621.
Lot size is listed at 4.66 acres, and the property size is shown as 960 square feet.
Key Highlights
- Ranch home built in 1998 on 4.66 acres in Oconee County
- 2‑bedroom, 1‑bath cottage with family room and breakfast area
- Front porch and deck for outdoor living
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
$10,743
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
2.94%
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%
$214,860
$214.9K
Cap Rate 7%
$153,471
$153.5K
Cap Rate 9%
$119,367
$119.4K
Market Conditions
NOI Build-Up for 960 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
$20.7K $21.60/SF
− Vacancy
−$1.2K −$1.25/SF
EGI
$19.5K $20.35/SF
− OpEx
−$8.8K −$9.16/SF
NOI
$10.7K $11.19/SF
Area
Oconee County, GA
Vacancy
5.80%
Lease Rate
$21.60 /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%
$214,860
Cap Rate 7%
$153,471
Cap Rate 9%
$119,367
Alternative Uses
Best Use
Apartment 5plus
$153.5K
$134.3K – $179.1K
NOI $10,743 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.4K
$202.5K – $270.0K
NOI $16,200 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Explore this area
Business Placement
Demographics for 30621, GA
6,352
Population
2,226
Households
2.9
Avg Household Size
40
Median Age
47%
College-Educated
94%
High-School Grad
45.4 sq mi
ZIP Area
140
Density / Sq Mi
$119,167
Median Household Income
$55,888
Median Earnings
$1,128
Median Rent
$420,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Ranch-style property with 4.66 acres and a 2-bedroom, 1-bath cottage plus shed and pole barn.
Where is this single family property located?
The property is located at 5180 Price Mill Road Bishop, GA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Ranch home built in 1998 on 4.66 acres in Oconee County; 2‑bedroom, 1‑bath cottage with family room and breakfast area; Front porch and deck for outdoor living
