Restaurant and Land For
555 Progress Center Avenue Lawrenceville, GA 30043
555 Progress Center Avenue, Lawrenceville, GA, 30043
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For Sale
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Restaurant with land, suitable for various cuisines and events.
Property Size4,612 SF
Lot Size2.32 Acres
Price / SF$433.65
Days on Market624
Property Features for 555 Progress Center Avenue
General Information
- Standard status
- Active
- Size
- 4,612 SF
- Lot size
- 2.32 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1998
Listing Agency
Focus Realty Investment
Listed by
Yeon Kyum Mok
Source
Crexi
Added: Nov 1, 2024 Checked: Jul 15 at 4:07 pm
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.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.3k | $23.04 |
| − Vacancy | −$7.4k | −$1.61 |
| EGI | $98.8k | $21.43 |
| − OpEx | −$24.7k | −$5.36 |
| NOI | $74.1k | $16.07 |
4,612 SF · lease $23.04/SF/yr · vacancy 7.00% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Vintage Home Kitchen
Restaurant
French Toastery
Bakery
Uptown Burgers
Restaurant
Similar For Sale Nearby
FAQs
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.
