Building Details

Year Built 1999

Year Renovated 2022

Buildings 2

Stories 1

Listing Agency: The Paletta Group l***@bellsouth.net Show Phone

Listed By: David Long · License #GA

Source: Crexi

Added: Apr 22 Changed: Aug 29 Last Checked: Aug 29 at 6:35PM

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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 The Paletta Group

Investment Insights

Based on property information with market context.

This diner property includes a restaurant building on 0.94 acres at 523 Atlantic Ave in Waco, Georgia. The existing operation has served the location for several decades, and the property is described as ready for business. The building was constructed in 1999.

The site is positioned immediately off the interstate, providing a location associated with substantial passing traffic and an established customer base. The sale covers the land and building; the restaurant business itself is not included.

Key Highlights

• Restaurant property on 0.94 acres
• Positioned right off the interstate
• Commercial zoning

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

$30,196

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

4.03%

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%

$603,920 $603.9K

Cap Rate 7%

$431,371 $431.4K

Cap Rate 9%

$335,511 $335.5K

Market Conditions

NOI Build-Up for 1,879 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

$43.3K $23.04/SF

− Vacancy

−$3.0K −$1.61/SF

EGI

$40.3K $21.43/SF

− OpEx

−$10.1K −$5.36/SF

NOI

$30.2K $16.07/SF

Area

Haralson County, GA

Vacancy

7.00%

Lease Rate

$23.04 /SF/Yr

Expense Ratio

25.00%

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%

$603,920

Cap Rate 7%

$431,371

Cap Rate 9%

$335,511

Alternative Uses

Best Use

Specialty Retail

$431.4K

$377.5K – $503.3K (±1% cap)

NOI $30,196 @ 7.0% cap · market cap 4.03%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$527.6K

$461.7K – $615.6K (±1% cap)

NOI $36,934 @ 7.0% cap · market cap 4.92%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Subway Take-out & Catering Love’sDogPark Park CAT Scale Parking Lot & Garage Chester's Chicken Restaurant ATM (Love's Travel ... Atm

Suggested Use

Top Pick HVAC Service Kitchen & Bath Showroom Auto Repair Shop Hair Salon Tanning Salon Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

21

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 30182, GA

2,694

Population

1,341

Households

2

Avg Household Size

42

Median Age

12%

College-Educated

83%

High-School Grad

35.1 sq mi

ZIP Area

77

Density / Sq Mi

$48,365

Median Household Income

$40,496

Median Earnings

$891

Median Rent

$191,600

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this breakfast & diners located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Breakfast & diner - Commercially zoned diner property with an established restaurant building near the interstate.

Where is this breakfast & diner located?

The property is located at 523 Atlantic Ave Waco, GA.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: Restaurant property on 0.94 acres; Positioned right off the interstate; Commercial zoning