Renovated Restaurant with Outdoor
For Sale
Contact for pricing
64 N Main St, Watkinsville, GA 30677
Fully renovated restaurant with patio in downtown Watkinsville, Georgia.
Property Size2,538 SF
Price / SF$413.71
Days on Market161
Property Features for 64 N Main St
General Information
Standard status
Active
Size
2,538 SF
Class
B
Property subtype
Retail
Zoning
B-1
Investment Type
Owner/User
Building Details
Year Built
1978
Year Renovated
2021
Buildings
1
Stories
1
Units
1
Listing Agency:
Atlas Real Estate Advisors
Listed By:
Chris Blackmon · License #GA 218395
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 10 at 1:44PM
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 Atlas Real Estate Advisors
Investment Insights
Based on property information with market context.
This is a restaurant property for sale, originally constructed in 1978 and extensively renovated in 2021. The building has a total area of approximately 2,538 square feet with an additional 1,000 square foot outdoor patio. The interior provides seating for 52 patrons, while the patio accommodates an additional 24 seats. The property includes 23 on-site parking spaces. It features approximately 193 feet of frontage along N. Main St., situated near the intersection of Route 53 and Route 15. Full utility access is available, including electric, natural gas, public water, and sewer. The site is served by municipal police and fire protection and is accessible from N. Main St. via two driveways. The property is located across from the new Oconee County Board of Education building and Wisteria Ridge, a 105-unit apartment community. The location offers strong visibility and consistent drive-by traffic. This property is positioned in downtown Watkinsville, Georgia.
Key Highlights
- Fully renovated (2021) and equipped ±2,538 SF restaurant with a 1,000 SF outdoor patio.
- Located in desirable downtown Watkinsville, GA.
- High‑visibility location with ±193' frontage on N. Main St.
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
$37,826
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
3.60%
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%
$756,520
$756.5K
Cap Rate 7%
$540,371
$540.4K
Cap Rate 9%
$420,289
$420.3K
Market Conditions
NOI Build-Up for 2,538 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
$54.8K $21.60/SF
− Vacancy
−$4.4K −$1.73/SF
EGI
$50.4K $19.87/SF
− OpEx
−$12.6K −$4.97/SF
NOI
$37.8K $14.90/SF
Area
Oconee County, GA
Vacancy
8.00%
Lease Rate
$21.60 /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%
$756,520
Cap Rate 7%
$540,371
Cap Rate 9%
$420,289
Alternative Uses
Best Use
Specialty Retail
$540.4K
$472.8K – $630.4K
NOI $37,826 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$611.8K
$535.4K – $713.8K
NOI $42,828 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30677, GA
20,579
Population
7,797
Households
2.6
Avg Household Size
41
Median Age
55%
College-Educated
97%
High-School Grad
122.2 sq mi
ZIP Area
168
Density / Sq Mi
$103,165
Median Household Income
$49,399
Median Earnings
$1,403
Median Rent
$394,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully renovated restaurant with patio in downtown Watkinsville, Georgia.
Where is this conventional restaurant located?
The property is located at 64 N Main St Watkinsville, GA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Fully renovated (2021) and equipped ±2,538 SF restaurant with a 1,000 SF outdoor patio.; Located in desirable downtown Watkinsville, GA.; High‑visibility location with ±193' frontage on N. Main St.
