Mixed-Use Property with Divided
648 Ellington Avenue, Thomson, GA 30824
For Sale
New
$142,000
Separate commercial areas include an operating salon and space available for occupancy.
Property Size697 SF
Price / SF$203.73
Days on Market7
Property Features for 648 Ellington Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Condition
Taxes and HOA fees
Annual Taxes
Amenities
Restrooms
Other
Building Details
Building Size
Year Built
Buildings
Stories
Abandoned
Listing Agency:
ACE Elite Realty, LLC
Listed By:
Anayo Ezenekwe
(470) 994-1200
Source:
Birch-river
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 8 at 4:37PM
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 ACE Elite Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1974, this mixed-use property in Thomson has a central lobby-style area and two distinct sides. A barber and beauty salon occupies one side, while the other is vacant. The building was remodeled, and two HVAC systems were installed in 2025 to serve the separate areas.
Located at 648 Ellington Avenue, the property is zoned R1-B. The existing salon tenant and unoccupied area provide two different occupancy conditions within the same building.
Located at 648 Ellington Avenue, the property is zoned R1-B. The existing salon tenant and unoccupied area provide two different occupancy conditions within the same building.
Key Highlights
- Two separate sides organized around a central lobby‑style area
- Barber and beauty salon tenant occupies one side; the other side is vacant
- Two HVAC systems installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,469
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$169,380
$169.4K
Cap Rate 7%
$120,986
$121.0K
Cap Rate 9%
$94,100
$94.1K
Market Conditions
NOI Build-Up for 697 SF
Gross rent
$15.1K $21.60/SF
− Vacancy
−$1.5K −$2.16/SF
EGI
$13.5K $19.44/SF
− OpEx
−$5.1K −$7.29/SF
NOI
$8.5K $12.15/SF
Area
McDuffie County, GA
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$169,380
Cap Rate 7%
$120,986
Cap Rate 9%
$94,100
Alternative Uses
Best Use
Mixed Use
$121.0K
$105.9K – $141.2K
NOI $8,469 @ 7.0% cap · market cap 5.96%
Second Best
Retail
$110.9K
$97.1K – $129.4K
NOI $7,765 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$220.0K
$192.5K – $256.7K
NOI $15,400 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
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Business Placement
Demographics for 30824, GA
16,832
Population
7,548
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
87%
High-School Grad
191.7 sq mi
ZIP Area
88
Density / Sq Mi
$54,214
Median Household Income
$35,804
Median Earnings
$810
Median Rent
$158,500
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate commercial areas include an operating salon and space available for occupancy.
Where is this mixed-use property located?
The property is located at 648 Ellington Avenue Thomson, GA.
What is the asking price?
The asking price for this property is $142,000.
What are key features of this property?
This property features: Two separate sides organized around a central lobby‑style area; Barber and beauty salon tenant occupies one side; the other side is vacant; Two HVAC systems installed in 2025
