Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Snellville Commercial Property For Sale Title is generated by Realmo AI

    2149 Scenic Highway, Snellville, GA 30078

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial property in downtown Snellville with high visibility.

    Type:Retail, Office
    Property size:
    2,032 SF
    Lot size:
    0.95 Acres
    Price / SF:
    $172/SF
    Added:
    Jul 13, 2024
    Days on Market:
    678
    Last Refresh:
    May 12 at 9:46 pm

    Property Features for 2149 Scenic Highway

    General Information

    Standard status
    Active
    Size
    2,032 SF
    Lot size
    0.95 Acres
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Darlene E Phillips

    Listing agent Darlene E Phillips

    Listing office Darlene Phillips Real Estate

    Listing date Jul 13, 2024

    Source Crexi

    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 Darlene Phillips Real Estate

    HighLights

    • High Visibility Location on Hwy 124 with 271' Road Frontage
    • Zoned BN (Business Neighborhood) for Versatile Use
    • High Traffic Area in Downtown Snellville
    • .95 +/- Acre Lot
    • Existing Sign for Immediate Advertising
    • Proximity to United Community Bank, Vet Hospital, and Snellville Pavilion

    Overview

    Located in downtown Snellville, this commercial property is situated on approximately 0.95 acres. Zoned BN, the property features about 271 feet of road frontage on Highway 124. The 2,032 square foot property was previously used as a flower shop. An existing sign is present. The location offers high visibility due to substantial traffic. It is located across the street from United Community Bank and a veterinary hospital, and adjacent to Snellville Pavilion, making it suitable for a new business seeking a prominent location.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $302.3K
    NOI $27,211 @ 9.00% cap · cautious / downside scenario
    Moderate
    $388.7K
    NOI $27,211 @ 7.00% cap · market / base-case scenario
    Aggressive
    $544.2K
    NOI $27,211 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $48.5k $23.87
    − Vacancy −$12.2k −$6.02
    EGI $36.3k $17.85
    − OpEx −$9.1k −$4.46
    NOI $27.2k $13.39
    2,032 SF · lease $23.87/SF/yr · vacancy 25.20% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $388.7K
    $340.1K – $453.5K (±1% cap)
    NOI $27,211 @ 7.0% cap · market cap 7.77%
    Second Best
    Retail
    $337.2K
    $295.1K – $393.4K (±1% cap)
    NOI $23,606 @ 7.0% cap · market cap 6.74%
    Theoretical Best
    Office A
    $568.0K
    $497.0K – $662.7K (±1% cap)
    NOI $39,762 @ 7.0% cap · market cap 11.36%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Building Supply Nail Salon Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • SILK FLORAL PARTY — Snellville, GA 30078
    • Flowers By Keona — 2140 McGee Rd SW Ste A3600, Snellville, GA 30078
    • Snellville Florist — 2320 A, Henry Clower Blvd SW, Snellville, GA 30078

    Location Insight

    • Map
    • Local Demand
    City
    Snellville
    County
    Gwinnett
    State
    Georgia
    Longitude
    -84.0185263
    Latitude
    33.8632511

    Nearby Similar for Sale

    • $149,900
      3,404 SF

      Snellville Land For Sale

      One acre of land suitable for professional or office use.
      925 Dogwood Road, Snellville, GA 30078
      View Details
    • $970,000

      Snellville Quadruplex: Fully Occupied

      Fully occupied Snellville quadruplex with strong rental income.
      3113 Destin Circle, Snellville, GA 30078
      View Details
    • $345,000

      Snellville Multifamily Investment Opportunity

      Two-unit property with long-term tenants in Snellville, Georgia.
      3550 Drum Roll Lane, Snellville, GA 30039
      View Details
    • $440,000

      Snellville Duplex Investment Opportunity

      Renovated duplex in Gwinnett County with tenants in place.
      3153 Dove Court, Snellville, GA 30078
      View Details
    • $1,425,000
      8,100 SF

      Snellville Commercial Building on Corner

      8,100 SF commercial building on 1-acre corner lot.
      3190 SW Industrial Way, Snellville, GA 30039
      View Details
    • $1,775,000

      Updated Church Facility on 7+ Acres

      Beautiful, updated church on 7+ acres in thriving community.
      3800 Lenora Church Road, Snellville, GA 30039
      View Details
    • $1,500,000

      Auto Center on Retail Corridor

      Auto service center on busy retail corridor with established tenant.
      2039 Scenic Highway, Snellville, GA 30078
      View Details
    • $440,000

      Snellville Commercial Space For Sale

      Well-maintained commercial space in downtown Snellville with medical office setup.
      2407 Lenora Church Road, Snellville, GA 30078
      View Details
    • $799,900
      7,988 SF

      Snellville Retail/Office Building on Acreage

      Freestanding 7988 SF retail/office building on 0.94-acre lot.
      4500 Anderson Livsey Lane, Snellville, GA 30039
      View Details
    • $425,000

      Snellville Quadruplex Investor Opportunity

      Quadruplex in Snellville, Georgia, with renovation potential.
      4540 Lee Road, Snellville, GA 30039
      View Details
    • $2,364,000
      782 SF

      Retail Space For Sale

      Retail space available, 782 SqFt, 5.50% CAP Rate.
      1947 Scenic Hwy N, Snellville, GA 30078
      View Details
    • $4,000,000
      12,386 SF

      Legacy Academy Investment Opportunity

      Sale-leaseback opportunity: Legacy Academy in Snellville, Georgia.
      1560 Summit Chase Drive, Snellville, GA 30078
      View Details

    FAQs

    What type of property is this?
    Storefront property - Commercial property in downtown Snellville with high visibility.
    Where is this storefront property located?
    The property is located at 2149 Scenic Highway Snellville, GA.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: High Visibility Location on Hwy 124 with 271' Road Frontage; Zoned BN (Business Neighborhood) for Versatile Use; High Traffic Area in Downtown Snellville
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Darlene E Phillips
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    2149 Scenic Highway, Snellville, GA 30078
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!