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    Washington St Covington, GA 30014

    For Sale
    $3,500,000

    8.64 Acres, Prime Development

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 8.64-acre land parcel in Covington, Georgia, presents a compelling multifamily development opportunity. Located on Washington Street SW, this fee simple property boasts a Neighborhood Mixed Use (NM) zoning designation, allowing for a variety of residential construction options. The asking price is $3,500,000, translating to approximately $405,092 per acre. The property consists of a four-parcel assemblage (APN available upon request). Its strategic location offers significant advantages. Situated less than half a mile from Covington's historic town square, the property benefits from the area's vibrant atmosphere, featuring numerous shops, restaurants, and retail establishments. Covington's reputation as the "Hollywood of the South," attracting significant film and television production, further enhances its appeal. The property's proximity to Atlanta (30 minutes) and Hartsfield-Jackson International Airport (56 minutes) provides excellent accessibility. Furthermore, its location within a Qualified Opportunity Zone presents substantial tax advantages for investors. This unique combination of factors makes this property an ideal investment for developers seeking to capitalize on Covington's growth and the potential for significant returns. The property's size and zoning provide ample opportunity for a substantial multifamily development project, contributing to the ongoing revitalization of this thriving Georgia community.

    Property Features for 0 Washington St

    General Information

    Property type
    Land
    Lot Size
    376,358 SF

    HighLights

    • 30‑minute commute to Atlanta.
    • 56‑minute drive to Hartsfield‑Jackson Atlanta International Airport.
    • Situated in a designated Opportunity Zone, offering substantial tax benefits.
    • NM (Neighborhood Mixed Use) zoning.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Covington
    County
    Newton
    State
    Georgia
    Longitude
    -83.8772221
    Latitude
    33.5869666

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    FAQs

    What type of property is this?
    Land - 8.64 Acres, Prime Development
    Where is this land located?
    The property is located at Washington St Covington, GA.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: 30-minute commute to Atlanta.; 56-minute drive to Hartsfield-Jackson Atlanta International Airport.; Situated in a designated Opportunity Zone, offering substantial tax benefits.
    (404) 876-1640
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    Washington St Covington, GA 30014
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    Realmo Value Estimation

    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.

    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.

    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
    Washington St Covington, GA 30014
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