Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    488 Highway 81 McDonough, GA 30253

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Modern Johnston County office, flexible spaces.

    Property Features for 488 Highway 81

    General Information

    Property type
    Land
    Lot Size
    525,334 SF

    We can help!

    Listing Contact
    Richard Boatright
    Richard Boatright

    Listing Agency: Richard Bowers & Co. Listing Agent: Richard Boatright

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 9,508 square foot office building, constructed in 1998 and extensively renovated in 2021, presents a unique investment opportunity. Located in the 40/42 - Cleveland submarket of Johnston County, this Class B property boasts a convenient location near the intersection of I-40 and Hwy 42 (I-40 Exit 312), offering easy access to major transportation routes. The single-story building features five suites, adaptable for traditional office, coworking, or creative office uses, with a ceiling height of 10 feet. Ample parking is provided with 25 spaces. The property sits on a 0.8-acre lot, with a building floor area ratio (FAR) of 0.27. Enhanced security is ensured by well-lighted exterior LED soffit lighting. The building is served by Duke Energy. Its zoning is Commercial. Commuting times are easily calculated: a half-mile, four-minute drive to I-40 Exit 312; 31 miles (31 minutes) to Raleigh Durham Airport; 7 miles (12 minutes) to Main Street, Clayton, NC; and 15.8 miles (19 minutes) to Downtown Raleigh. Even Wrightsville Beach is within reach at 116 miles (1 hour, 44 minutes). Currently, one 60 sq. ft. space is available for lease. This property offers a blend of accessibility, modern amenities, and flexible space options, making it an ideal choice for a variety of businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    McDonough
    County
    Henry
    State
    Georgia
    Longitude
    -84.1751648
    Latitude
    33.447458

    Nearby Similar for Sale

    • $2,499,900
      26,000 SF

      Flex Industrial Corporate Headquarters Opportunity

      26,000 SF flex industrial facility in McDonough, Georgia.
      175 Kendra Dr, McDonough, GA 30253
      View Details
    • $957,500
      2.00 Acres

      Mcdonough Church Property For Sale

      Well-maintained church property with two buildings and recent updates.
      3470 Highway 42 N, McDonough, GA 30253
      View Details
    • $1,999,000
      Pending

      Versatile Commercial Property on 2 Acres

      High-visibility commercial property suitable for diverse uses and future development.
      2170 Jonesboro Rd, McDonough, GA 30253
      View Details
    • $899,000
      4.42 Acres

      Spacious McDonough Fourplex on Acreage

      Fourplex on 4.4 acres with income potential.
      1256 Chambers Rd, McDonough, GA 30253
      View Details
    • $375,000
      0.51 Acres

      Renovated Commercial Space in McDonough

      Fully renovated commercial space with income-producing units in prime location.
      3949 Jodeco Rd, McDonough, GA 30253
      View Details
    • $1,075,000
      Pending

      Versatile Church Property in McDonough

      Church property with four buildings totaling 16,144 square feet.
      3707 Jodeco Rd, McDonough, GA 30253
      View Details
    • New
      $510,000
      1.62 Acres

      Country Home on Landscaped Grounds

      Updated McDonough home on 1.6 acres with finished basement.
      460 Holly Hills Ln, McDonough, GA 30252
      View Details
    • New
      $510,000
      1.62 Acres

      Updated Home on Large Lot

      Updated 4-bedroom home on 1.6 acres in Ola School District.
      460 Holly Hills Ln, McDonough, GA 30252
      View Details
    • $1,900,000
      3,591 SF

      Prime Commercial Property on Highway 20/81

      Former bank branch with high visibility and expansion potential.
      865 Hwy, McDonough, GA 30253
      View Details
    • $1,500,000
      0.80 Acres

      Multifamily Investment Property in McDonough

      Eight-unit multifamily property with recent renovations and low owner expenses.
      131 Cleveland St, McDonough, GA 30253
      View Details
    • $1,500,000
      0.80 Acres

      Multifamily Investment Property in McDonough

      Eight-unit multifamily property near McDonough's historic downtown square.
      131 Cleveland St, McDonough, GA 30253
      View Details
    • $365,000

      Spacious Two-Story Home in Mcdonough

      Four-bedroom, two-and-a-half-bath home for sale in Mcdonough, GA.
      811 Hennepin Ter, McDonough, GA 30253
      View Details

    FAQs

    What type of property is this?
    Land - Modern Johnston County office, flexible spaces.
    Where is this land located?
    The property is located at 488 Highway 81 McDonough, GA.
    What are key features of this property?
    This property features: 9,508 SF single-story office building with five suites available for lease.; Located in Johnston County, NC, near I-40 Exit 312 (Hwy 42).; Features 25 parking spaces and a 10' ceiling height.
    (404) 816-1600 Call to check price and availability
    Request Owner's contact information
    488 Highway 81 McDonough, GA 30253
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    488 Highway 81
    McDonough, GA 30253
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    488 Highway 81 McDonough, GA 30253
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Richard Boatright
    Richard Boatright
    Real Estate License ID: 393467
    (404) 816-1600 (404) 791-4983
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!