Restaurant with Covered Outdoor
New
For Sale
$1,050,000
64 N Main Street, Watkinsville, GA 30677
Commercial Sale, Watkinsville, GA
Property Size2,132 SF
Lot Size0.64 Acres
Price / SF$492.50
Days on Market1
Property Features for 64 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
001
Zoning description
Commercial
Bathrooms
2
Half bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Interior features
High Ceilings
Exterior features
Storage
Appliances
Gas Water Heater, Some Commercial Grade
Directions
From Athens: Take US-441 S toward Watkinsville. Turn left onto Experiment Station Rd, then right onto N Main St. Property is located at 64 N Main St in downtown Watkinsville, on the right.
Standard status
Active
APN
W05-0-03
Size
2,132 SF
Lot size
0.64 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
1652/190 875/84 867/389 8/50
Tax Annual Amount
4493
Legal Description
1652/190 875/84 867/389 8/50
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
commercial kitchen
indoor dining space
covered outdoor seating
Building Details
Year built
1978
Floors in Building
1
Building materials
Brick
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Corcoran Classic Living
(706) 559-4520
Listed By:
Melinda Edwards · License #442115
(706) 202-1642
Added: Sep 8
Last Checked: Sep 8 at 9:06PM
MLS# CL363855
Copyright © 2026 Hive MLS. 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 2,132-square-foot restaurant property at 64 N Main Street includes a commercial kitchen, indoor dining area, covered outdoor seating, storage, and two bathrooms. High ceilings, brick construction, and a metal roof contribute to the building’s existing character, while central air, electric cooling, and natural gas heating support year-round operation. The property was built in 1978 and includes some commercial-grade appliances, a gas water heater, public water, and public sewer.
Located in downtown Watkinsville, the site is positioned in Oconee County with convenient access to Athens. The existing business is not included in the sale or lease. Continued restaurant use or other commercial concepts may be possible, subject to zoning and applicable approvals.
Located in downtown Watkinsville, the site is positioned in Oconee County with convenient access to Athens. The existing business is not included in the sale or lease. Continued restaurant use or other commercial concepts may be possible, subject to zoning and applicable approvals.
Key Highlights
- 2,132‑square‑foot restaurant property on 0.64 acres
- Commercial kitchen with indoor dining and covered outdoor seating
- High ceilings, brick construction, and metal roof
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
Retail
$344.2K
$301.2K – $401.6K
NOI $24,096 @ 7.0% cap · market cap 2.29%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
329
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Brick commercial building includes a kitchen, dining area, and flexible interior layout.
Where is this conventional restaurant located?
The property is located at 64 N Main Street 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 on 0.64 acres; Commercial kitchen with indoor dining and covered outdoor seating; High ceilings, brick construction, and metal roof
