Restaurant and Land For
For Sale
Contact for pricing
555 Progress Center Avenue, Lawrenceville, GA 30043
Restaurant with land, suitable for various cuisines and events.
Property Size4,612 SF
Lot Size2.32 Acres
Price / SF$433.65
Days on Market671
Property Features for 555 Progress Center Avenue
General Information
Standard status
Active
Size
4,612 SF
Total Parking Spaces
62
Lot size
2.32 Acres
Property subtype
Retail
Building Details
Year Built
1998
Buildings
1
Listing Agency:
Focus Realty Investment
Listed By:
Yeon Kyum Mok
Source:
Crexi
Added: Nov 1, 2024
Changed: Aug 13
Last Checked: Sep 1 at 2:33AM
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 Focus Realty Investment
Investment Insights
Based on property information with market context.
This property features a 4,612 square foot stand-alone restaurant building situated on a 2.32-acre flat lot. Currently operating as a Country Food Cafeteria, the property offers potential for various restaurant concepts, including a sports bar, country buffet, sushi buffet, American restaurant, Chinese restaurant, Mexican restaurant, Italian restaurant, Japanese steak restaurant, and Asian fusion. It is also suitable for wedding events. The buyer has the option to construct additional buildings on the vacant portion of the lot.
Key Highlights
- Large 2.32‑acre flat lot offers expansion or new construction opportunities.
- Existing 4,612 sq ft stand‑alone restaurant building is ready for immediate use.
- Versatile property suitable for various restaurant concepts or event venue.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,117
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,482,340
$1.5M
Cap Rate 7%
$1,058,814
$1.1M
Cap Rate 9%
$823,522
$823.5K
Market Conditions
NOI Build-Up for 4,612 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$106.3K $23.04/SF
− Vacancy
−$7.4K −$1.61/SF
EGI
$98.8K $21.43/SF
− OpEx
−$24.7K −$5.36/SF
NOI
$74.1K $16.07/SF
Area
Gwinnett County, GA
Vacancy
7.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,482,340
Cap Rate 7%
$1,058,814
Cap Rate 9%
$823,522
Alternative Uses
Best Use
Specialty Retail
$1.06M
$926.5K – $1.24M
NOI $74,117 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,246 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
903
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Johnstone Supply
Home Improvements & Furnishings
903 visits/mo
0.5 miles
Demographics for 30043, GA
88,453
Population
30,251
Households
2.9
Avg Household Size
37
Median Age
40%
College-Educated
89%
High-School Grad
33.1 sq mi
ZIP Area
2,672
Density / Sq Mi
$91,299
Median Household Income
$44,207
Median Earnings
$1,787
Median Rent
$344,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant with land, suitable for various cuisines and events.
Where is this conventional restaurant located?
The property is located at 555 Progress Center Avenue Lawrenceville, GA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Large 2.32‑acre flat lot offers expansion or new construction opportunities.; Existing 4,612 sq ft stand‑alone restaurant building is ready for immediate use.; Versatile property suitable for various restaurant concepts or event venue.
