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    Industrial Project in Athens, Georgia Title is generated by Realmo AI

    161 Fritz Mar Ln, Athens, GA 30607

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    New industrial project with build-ready pads available for sale.

    Type:Retail
    Property size:
    7,200 SF
    Price / SF:
    $48/SF
    Added:
    Nov 1, 2024
    Days on Market:
    585
    Last Refresh:
    May 13 at 1:13 am

    Property Features for 161 Fritz Mar Ln

    General Information

    Standard status
    Active
    Size
    7,200 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2024

    We can help!

    Listing Contact
    Alexander Purcell
    Alexander Purcell

    Listing agent Alexander Purcell License #GA 394288

    Listing office Brittany Purcell & Associates | Keller Williams Realty Greater Athens PLACE

    Listing date Nov 1, 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 Brittany Purcell & Associates | Keller Williams Realty Greater Athens PLACE

    HighLights

    • Turn‑key, permit‑ready pad for a 4000 sq ft building (Building 300) with minimal prep needed for slab setup, allowing for quick construction.
    • Located in the Athens Clarke County (ACC) TAD district and zoned "I" for industrial use.
    • Seller covers development, parking lot, and road costs, providing a build‑ready site.
    • Anticipated completion of a new building by the end of 2024.
    • Ga Power ready with 3‑phase 120/208 power, offering 2QTY 200 amp service or 1QTY 600 amp service (building 100 only).
    • Includes ATT fiber internet and 1QTY ACC water 3/4" meter and sewer service (county fees paid).

    Overview

    Located in Athens Clarke County, 161 Fritz Mar Lane is a new industrial project zoned "I" in the ACC TAD district. The project includes five 4,000-square-foot buildings and one 7,200-square-foot building divided into two units. The developer offers pads and shell buildings for sale, with build-to-suit and lease options available. This listing is for a turn-key pad for a 4,000-square-foot building (building 300 in the site plan). The pad will be turn-key and permit-ready, requiring minimal preparation for slab setup. Georgia Power is ready for 3-phase 120/208 power, with 2QTY 200 amp service or 1QTY 600 amp service available for building 100 only. ATT fiber internet, 1QTY ACC water 3/4" meter and sewer service are available (county fees paid, additional meters/taps available at the buyer's cost). The seller is covering development, parking lot, and road costs, offering an opportunity to buy a build-ready site with a new building potentially completed by the end of 2024.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Hotel & Motel Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    Clarke
    State
    Georgia
    Longitude
    -83.3998375
    Latitude
    33.9843385

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    FAQs

    What type of property is this?
    Commercial land - New industrial project with build-ready pads available for sale.
    Where is this commercial land located?
    The property is located at 161 Fritz Mar Ln Athens, 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: Turn‑key, permit‑ready pad for a 4000 sq ft building (Building 300) with minimal prep needed for slab setup, allowing for quick construction.; Located in the Athens Clarke County (ACC) TAD district and zoned "I" for industrial use.; Seller covers development, parking lot, and road costs, providing a build‑ready site.
    (706) 389-0771 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alexander Purcell
    Alexander Purcell
    Real Estate License ID: GA 394288
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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.

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