Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1722 Us Hwy Griffin, GA 30224

    Sponsored
    For Sale
    $630,000

    2.8-Acre Commercial Lot, High Traffic Area

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    407
    This exceptional 2.8-acre commercial lot in Griffin, Georgia, presents a unique investment opportunity. Located at 1722 US Hwy 7/41, in Spalding County, zip code 30224 (33.2831586, -84.2489525), this property boasts a prime location near major retailers including Ingles Grocery Store and Race Trac, ensuring high visibility and accessibility. The lot is zoned for commercial use and has already received approval for the construction of approximately 43,800 square feet of storage unit space and approximately 1,200 square feet of office space. However, its zoning allows for a wide range of commercial development possibilities, making it ideal for various ventures. The high traffic volume of US Highway 7/41, with an estimated 15,800 vehicles per day (2021 GDOT estimate), further enhances the property's commercial potential. This strategically located lot offers significant advantages for businesses seeking high visibility and convenient access to a bustling community. The asking price for this exceptional property is $630,000. Don't miss this chance to acquire a highly desirable commercial lot in a thriving area.

    Property Features for 1722 Us Hwy

    General Information

    Property type
    Land
    Lot Size
    121,968 SF

    We can help!

    Listing Contact
    Bo Elliott
    Bo Elliott

    Learn more

    HighLights

    • Zoned commercial.
    • Approved for 43,800 SF of storage and 1,200 SF of office.
    • Suitable for various commercial uses.
    • High traffic count: Hwy 7/41 - 15,800 vehicles per day (2021 GDOT estimate).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Griffin
    County
    Spalding
    State
    Georgia
    Longitude
    -84.2489525
    Latitude
    33.2831586

    Nearby Similar for Sale

    • $4,750,000
      Pending

      Griffin Commercial Property on 8.43 Acres

      8.43 acre commercial property with state-of-the-art buildings.
      2425 Expressway N, Griffin, GA 30223
      View Details
    • $460,000
      7,416 SF

      Griffin, GA Church Property

      7,416 sq ft church on 3.461 acres in Griffin.
      330 N 16Th St, Griffin, GA 30223
      View Details
    • $1,700,000
      Pending

      Griffin Commercial Building For Sale

      2,912 sq ft commercial building in Spalding County.
      1530 Georgia Highway 16 W, Griffin, GA 30223
      View Details
    • $480,000
      Pending

      Griffin Automotive Business Opportunity

      Commercial space ideal for automotive business with ample space.
      1348 Meriwether St, Griffin, GA 30224
      View Details
    • $1,150,000
      3,030 SF

      Event Center on 9.39 Acres

      Event center with historic mill and creek-side wedding area.
      15046 Highway 19, Griffin, GA 30224
      View Details
    • $145,000
      0.19 Acres

      Griffin, GA Duplex Investment

      Fully occupied duplex in Griffin, GA, generating instant revenue.
      221 Lexington Ave, Griffin, GA 30223
      View Details
    • $145,000
      0.19 Acres

      Griffin, GA Duplex Investment

      Fully occupied duplex in Griffin, GA, generating instant revenue.
      221 Lexington Ave, Griffin, GA 30223
      View Details
    • $850,000
      4,650 SF

      Griffin Commercial Property For Sale

      Prime commercial property on 1.56 acres with high visibility.
      2342 Expressway N, Griffin, GA 30223
      View Details
    • $699,000
      7,348 SF

      Griffin Commercial Property For Sale

      High-visibility commercial property with two buildings in a high-traffic area.
      1300 W Taylor St, Griffin, GA 30223
      View Details
    • $107,500
      0.12 Acres

      Griffin Multifamily Investment Package

      Seven properties on four lots near downtown Griffin, Georgia.
      506 N 13Th St, Griffin, GA 30223
      View Details
    • $275,000
      1,176 SF

      Griffin Commercial Property For Sale

      All-brick building with endless possibilities in a prime location.
      220 Airport Rd, Griffin, GA 30224
      View Details
    • $325,000
      0.35 Acres

      Griffin Multifamily Investment Package

      Seven properties on four lots near downtown Griffin, Georgia.
      637 Hallyburton St, Griffin, GA 30223
      View Details

    FAQs

    What type of property is this?
    Land - 2.8-Acre Commercial Lot, High Traffic Area
    Where is this land located?
    The property is located at 1722 Us Hwy Griffin, GA.
    What is the asking price?
    The asking price for this property is $630,000.
    What are key features of this property?
    This property features: Zoned commercial.; Approved for 43,800 SF of storage and 1,200 SF of office.; Suitable for various commercial uses.
    (478) 750-7507
    Request Owner's contact information
    1722 Us Hwy Griffin, GA 30224
    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.
    1722 Us Hwy
    Griffin, GA 30224
    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
    1722 Us Hwy Griffin, GA 30224
    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!
    Listing Contact
    Bo Elliott
    Bo Elliott
    Real Estate License ID: GA 412808
    (478) 750-7507
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.