Residential Income Property with
5603 Old Wilkie Road Gainesville, GA 30506
For Sale
$459,950
COMMERCIAL - Gainesville, GA
Property Size3,238 SF
Lot Size1.83 Acres
Price / SF$142.05
Days on Market110
Property Features for 5603 Old Wilkie Road
General Information
Property type
Commercial Sale
Property subtype
Office
Fencing
Fenced
Standard status
Active
APN
10012 000055
Size
3,238 SF
Lot size
1.83 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
4468
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central, Heat Pump (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2006
Flooring type
Hardwood
Building materials
Concrete, Frame
Roof type
Composition
Listing Agency:
Keller Williams Lanier Partners
(770) 503-7070
Listed By:
Kathryn Fauscett
(678) 316-1924
Added: Apr 10
Changed: Jul 27
Last Checked: Jul 28 at 3:06AM
MLS# 10729413
Copyright © 2026 Georgia Multiple Listing Service. 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 property offers a flexible country retreat with a unique 4-bedroom, 3-bath layout designed for comfortable everyday living. The main living area upstairs features an open connection between living, dining, and kitchen spaces, along with a large pantry and laundry area. The lower level includes a full bath, kitchenette, and two bonus rooms that can serve as a home office, guest suites, or additional bedrooms with minimal modifications. Outdoors, a 30x50 barn with power and water provides space for hobbies, storage, or a workshop, supported by an oversized garage and additional workshop/storage off the garage. The property also includes Concord and muscadine grapevines and 16 rose bushes, with a gated entry for added privacy.
Located between Gainesville and Dawsonville, the home is minutes from GA-400 and I-985, balancing peaceful surroundings with access to nearby amenities. There is no HOA.
Set on 1.83 acres, this one-of-a-kind offering combines residential flexibility with agricultural and outbuilding features that can support a variety of day-to-day uses.
Located between Gainesville and Dawsonville, the home is minutes from GA-400 and I-985, balancing peaceful surroundings with access to nearby amenities. There is no HOA.
Set on 1.83 acres, this one-of-a-kind offering combines residential flexibility with agricultural and outbuilding features that can support a variety of day-to-day uses.
Key Highlights
- 1.83‑acre country property with a unique 4‑bedroom, 3‑bath layout plus a lower‑level kitchenette and two bonus rooms
- Upper main living area offers an open plan connecting living, dining, and kitchen, with a large pantry and laundry area
- 30x50 barn on‑site with power and water, plus oversized garage and workshop/storage off the garage
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.2k | $16.44 |
| − Vacancy | −$6.3k | −$1.96 |
| EGI | $46.9k | $14.48 |
| − OpEx | −$21.1k | −$6.52 |
| NOI | $25.8k | $7.97 |
3,238 SF · lease $16.44/SF/yr · vacancy 11.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$368.5K
$322.4K – $429.9K
NOI $25,794 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$906.8K
$793.5K – $1.06M
NOI $63,476 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Single family property - Versatile 4-bedroom, 3-bath home with a 30x50 barn featuring power and water on 1.83 acres.
Where is this single family property located?
The property is located at 5603 Old Wilkie Road Gainesville, GA.
What is the asking price?
The asking price for this property is $459,950.
What are key features of this property?
This property features: 1.83‑acre country property with a unique 4‑bedroom, 3‑bath layout plus a lower‑level kitchenette and two bonus rooms; Upper main living area offers an open plan connecting living, dining, and kitchen, with a large pantry and laundry area; 30x50 barn on‑site with power and water, plus oversized garage and workshop/storage off the garage
