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    1485 Jesse Jewell NE Pkwy Gainesville, GA 30501-3801

    • Medical offices
    • 69,888 SF
    • 5.37 lot acres
    OFF-MARKET
    Last Sale
    Dec 29, 2020
    $29,638,924
    Value Estimations
    Cap Rate Potential
    3.4%
    Medical offices
    Location Intelligence
    Property ID
    US22-2011454
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Onal Erol Do / Pediatrician
    • North Georgia Eye Associates / Optician / Optometrist
    • Northside ENT Specialists - Gainesville / Otolaryngology Clinic / Allergist
    • Dr. Michael Angel ent / Plastic Surgeon / Otolaryngologist
    • Christina A. Saurel, MD / Hematologist / Oncologist

    Property Details for 1485 Jesse Jewell NE Pkwy

    Year built
    2011
    Lot size
    5.37 lot acres
    Property size
    69,888 SF
    Zone code
    O-I
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    01-082 -004-006
    APU
    1082004006

    Description

    This Gainesville, GA property offers 6,073 square feet of surgery center space and 2,173 square feet of medical office space for lease. Located in the Parkway Professional Center, this three-story brick building boasts a common area lobby, two passenger elevators, and ample parking (200 spaces, a 2.96:1,000 SF ratio). Built in 2011 and renovated in 2023, the building is situated on 5.37 acres of land with street frontage on Jesse Jewell Parkway. The property is conveniently located near Northeast Georgia Medical Center, easily accessible from I-985 (Exit 24), and benefits from the continued commercial growth along Jesse Jewell Parkway. The building is zoned OI and features a total of 67,500 square feet, with a minimum divisible space of 2,173 square feet and a maximum contiguous space of 6,073 square feet. The property's Class A designation reflects its high-quality construction and amenities. Hall County location.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Hall
    State
    Georgia
    Longitude
    -83.8074
    Latitude
    34.308
    CBSA code
    23580
    CBSA name
    GAINESVILLE, GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $209,077
    $682,560
    $6,618,000
    $7,300,560
    -
    $1,706,400
    $16,545,000
    $18,251,400

    Comparable in this City

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    • Value Estimation
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      4,702 SF

      1240 Jesse Jewell SE Pkwy

      MEDICAL BUILDING • 4,702 SF
      1240 Jesse Jewell SE Pkwy, Gainesville, GA 30501-3862
      View Details

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    Gainesville, GA 30501-3801
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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