Restaurant Property with Covered
New
For Sale
$1,050,000
64 N Main St, Watkinsville, GA 30677
Downtown restaurant property with a commercial kitchen, indoor dining, and covered outdoor seating.
Property Size2,132 SF
Price / SF$492.50
Days on Market2
Property Features for 64 N Main St
General Information
Standard status
Active
Size
2,132 SF
Building Details
Year Built
1978
Listing Agency:
Corcoran Classic Living
Listed By:
Melinda Edwards · License #442115
(706) 202-1642
Source:
Annakintown
Added: Sep 18
Last Checked: Sep 19 at 11:33AM
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 Corcoran Classic Living
Investment Insights
Based on property information with market context.
This 2,132-square-foot restaurant property, built in 1978, is arranged for food-service operations with a commercial kitchen, indoor dining area, and covered outdoor seating. The existing layout offers flexibility for continued restaurant use or other commercial concepts, subject to zoning and applicable approvals.
The property is located at 64 N Main St in downtown Watkinsville, with convenient access to Athens and a central position within Oconee County. It is offered for sale or lease; the existing business is not included in the transaction.
The property is located at 64 N Main St in downtown Watkinsville, with convenient access to Athens and a central position within Oconee County. It is offered for sale or lease; the existing business is not included in the transaction.
Key Highlights
- 2,132‑square‑foot restaurant property
- Commercial kitchen with indoor dining space
- Covered outdoor seating area
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
$31,775
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
3.03%
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%
$635,500
$635.5K
Cap Rate 7%
$453,929
$453.9K
Cap Rate 9%
$353,056
$353.1K
Market Conditions
NOI Build-Up for 2,132 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
$46.1K $21.60/SF
− Vacancy
−$3.7K −$1.73/SF
EGI
$42.4K $19.87/SF
− OpEx
−$10.6K −$4.97/SF
NOI
$31.8K $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%
$635,500
Cap Rate 7%
$453,929
Cap Rate 9%
$353,056
Alternative Uses
Best Use
Specialty Retail
$453.9K
$397.2K – $529.6K
NOI $31,775 @ 7.0% cap · market cap 3.03%
Second Best
Industrial
$185.5K
$162.4K – $216.5K
NOI $12,988 @ 7.0% cap · market cap 1.24%
Theoretical Best
Office A
$514.0K
$449.7K – $599.6K
NOI $35,977 @ 7.0% cap · market cap 3.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
411
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Downtown restaurant property with a commercial kitchen, indoor dining, and covered outdoor seating.
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: 2,132‑square‑foot restaurant property; Commercial kitchen with indoor dining space; Covered outdoor seating area
