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    Elberta Rd Centerville, GA 31028

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    For Sale
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    Rare 9-unit development potential in GA

    Property size:
    41,600 SF

    Property Features for 0 Elberta Rd

    General Information

    Property type
    Distribution centers
    Square Feet
    41,600 SF

    We can help!

    Listing Contact
    Janice Stefanski
    Janice Stefanski

    Listing Agency: Coldwell Banker Access Realty Warner Robins Listing Agent: Janice Stefanski

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

    Learn more

    Overview

    This exceptional investment opportunity presents a 41,600 square foot warehouse property located at 0 Elberta Road, Centerville, Georgia, 31028. Currently zoned C2, this property offers a unique chance to develop a multi-unit rental complex. The City of Centerville has already approved the attached proposed building plan, which outlines the construction of three buildings, each containing three individual rental units, totaling nine rental units on a single property. This represents a significant advantage for investors seeking a high-yield, multi-family development project. The property's substantial size (41,600 square feet) provides ample space for the proposed development, ensuring each unit has sufficient area. Situated in desirable Houston County, this location offers strong rental demand and potential for significant return on investment. The asking price for this prime development land is $95,000. This is a rare opportunity to acquire a fully approved development plan in a high-demand area, minimizing development hurdles and maximizing potential returns. Don't miss this chance to capitalize on this lucrative investment prospect.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Map

    City
    Centerville
    County
    Houston
    State
    Georgia
    Longitude
    -83.6686326
    Latitude
    32.6317666

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      Centerville Commercial Land Opportunity

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    FAQs

    What type of property is this?
    Distribution center - Rare 9-unit development potential in GA
    Where is this distribution center located?
    The property is located at Elberta Rd Centerville, GA.
    What is the asking price?
    The asking price for this property is $95,000.
    What are key features of this property?
    This property features: $95,000 asking price.; 41,600 square foot industrial land parcel.; Located at 0 Elberta Road, Centerville, GA 31028.
    (478) 745-3991 Call to check price and availability
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    Elberta Rd Centerville, GA 31028
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    Centerville, GA 31028
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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
    Elberta Rd Centerville, GA 31028
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Janice Stefanski
    Janice Stefanski
    (478) 745-3991 (478) 953-8595 (478) 256-2943
    Learn more
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