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    221 3Rd Ave Chatsworth, GA 30705

    Sponsored
    For Sale
    $275,000

    Prime Retail, High Visibility, 6,270 SF

    Property size:
    6,270 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional 6,270 square foot retail storefront, located at 221 N 3rd Avenue in downtown Chatsworth, Georgia, presents a compelling value-add investment opportunity. The property boasts a classic two-story brick building constructed in 1961, offering a timeless aesthetic and high visibility from its location on a major highway. The vacant space is currently zoned CH - Commercial Highway and features a versatile layout spread across two levels, each approximately 3,135 square feet. The asking price is $275,000, translating to $43.86 per square foot. The property sits on a 6,612 square foot lot and includes convenient private parking in the rear. This prime location ensures high foot traffic and excellent exposure for any business. The building's solid construction and desirable location make it an ideal investment for a variety of retail uses. The property is currently vacant, offering immediate occupancy for a new tenant. This is a rare opportunity to acquire a well-positioned retail space in a thriving downtown area. The property's size, location, and aesthetic appeal make it a strong contender for a variety of businesses seeking a high-impact presence in Chatsworth. The property's address is 221 N 3rd Ave, Chatsworth, GA 30705. The APN is 0049B 227.

    Property Features for 221 3Rd Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    6,270 SF

    Building Details

    Year Built
    1961
    Buildings
    1
    Stories
    2
    Units
    1

    We can help!

    Listing Contact
    Michael Williams
    Michael Williams

    Learn more

    HighLights

    • 6,270 SF two‑story building offering versatile space.
    • High‑visibility location with prime highway exposure.
    • Classic brick building with timeless appeal.
    • Convenient rear private parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Optimum Staffing Employment Agency All Things Baby ... Baby Store

    Suggested Use

    Restaurant Hair Salon Clothing Store Wholesale Shop Pharmacy Department Store Bar & Pub Auto Parts Store Grocery Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Chatsworth
    County
    Murray
    State
    Georgia
    Longitude
    -84.7698659
    Latitude
    34.7684172

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    FAQs

    What type of property is this?
    Individual retail property - Prime Retail, High Visibility, 6,270 SF
    Where is this individual retail property located?
    The property is located at 221 3Rd Ave Chatsworth, GA.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: 6,270 SF two-story building offering versatile space.; High-visibility location with prime highway exposure.; Classic brick building with timeless appeal.
    Request Owner's contact information
    221 3Rd Ave Chatsworth, GA 30705
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    Chatsworth, GA 30705
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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.

    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
    221 3Rd Ave Chatsworth, GA 30705
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    We can help!
    Listing Contact
    Michael Williams
    Michael Williams
    Real Estate License ID: 344170
    Learn more
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