Highway Commercial Land For
For Sale
$1,500,000
6125 Washington Street SW, Covington, GA 30014
3.557 acres of highway commercial land with multiple buildings.
Property Size5,315 SF
Lot Size3.57 Acres
Price / SF$282.22
Days on Market165
Property Features for 6125 Washington Street SW
General Information
Standard status
Active
Size
5,315 SF
Lot size
3.57 Acres
Property subtype
Commercial
Amenities
Central air
Metal Roof
Central Air Cooling
Central Heating
Level
Parking Lot
Semi Turning Available
Building Details
Year Built
1989
Listing Agency:
Lee Staples Realty, Inc.
(770) 483-7779
Listed By:
Charles Staples · License #11274
Source:
Corcoran
Added: Feb 25
Changed: Aug 8
Last Checked: Jul 16 at 7:38AM
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 Lee Staples Realty, Inc.
Investment Insights
Based on property information with market context.
This property features 3.557 acres of land zoned for highway commercial use. It includes five separate buildings currently in use, suitable for various commercial purposes. The buildings measure 3145 SF, 1586 SF, 1332 SF, 5315 SF (unfinished), and 869 SF. Currently used as a church, the property offers ample parking and space for additional construction. Sewer is connected to several buildings. The location is near Downtown Covington Square, making it suitable for office, retail, or medical space development.
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
$77,062
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
5.14%
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%
$1,541,240
$1.5M
Cap Rate 7%
$1,100,886
$1.1M
Cap Rate 9%
$856,244
$856.2K
Market Conditions
NOI Build-Up for 5,315 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
$143.5K $27.00/SF
− Vacancy
−$15.1K −$2.84/SF
EGI
$128.4K $24.17/SF
− OpEx
−$51.4K −$9.67/SF
NOI
$77.1K $14.50/SF
Area
Newton County, GA
Vacancy
10.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,541,240
Cap Rate 7%
$1,100,886
Cap Rate 9%
$856,244
Alternative Uses
Best Use
Healthcare Medical
$1.10M
$963.3K – $1.28M
NOI $77,062 @ 7.0% cap · market cap 5.14%
Second Best
Retail
$1.07M
$934.5K – $1.25M
NOI $74,757 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,002 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,258
Businesses Nearby
Explore this area
Business Placement
Demographics for 30014, GA
39,247
Population
16,159
Households
2.4
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
120.7 sq mi
ZIP Area
325
Density / Sq Mi
$71,055
Median Household Income
$37,714
Median Earnings
$1,199
Median Rent
$253,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 3.557 acres of highway commercial land with multiple buildings.
Where is this commercial land located?
The property is located at 6125 Washington Street SW Covington, GA.
What is the asking price?
The asking price for this property is $1,500,000.
