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    Lawrenceville Land Parcel on Scenic Highway Title is generated by Realmo AI

    956 Scenic Highway, Lawrenceville, GA 30045

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    Claim this Listing
    For Sale
    $6,000,000

    30.31-acre parcel with 1,200+ feet of frontage on Scenic Highway.

    Type:Land or Vacant Lot
    Lot size:
    30.31 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    96
    Last Refresh:
    Apr 4 at 8:21 pm

    Property Features for 956 Scenic Highway

    General Information

    Standard status
    Active
    Lot size
    30.31 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    Brian Elrod

    Listing agent Brian Elrod License ##251606

    Listing office NAI Elrod Group

    Listing date Feb 26, 2026

    Source Corcoran

    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 NAI Elrod Group

    HighLights

    • 30.31‑acre parcel with over 1,200 feet of frontage on Scenic Highway (Hwy. 124).
    • High traffic count of over 40,000 vehicles per day on Scenic Highway.
    • Sewer available, making it suitable for residential development.
    • Located in the Starling Elementary, Couch Middle, and Grayson High School districts.
    • Potential to annex the property into the City of Lawrenceville.
    • Proximity to national retail tenants like Walmart Supercenter, Home Depot, and Sams Club.

    Overview

    The property at 956 Scenic Highway is a 30.31-acre parcel featuring over 1,200 feet of frontage on Scenic Highway (Hwy. 124) in Lawrenceville, GA. Traffic counts exceed 40,000 vehicles per day along this stretch, according to GA DOT records. The site offers strong visibility along a well-traveled corridor in Gwinnett County. The property includes both open pasture and wooded areas. Sewer is available. The location falls within the Starling Elementary, Couch Middle, and Grayson High School districts. There is potential to annex the property into the City of Lawrenceville. The property is located near the Sugarloaf Parkway intersection, across from Alexander Park. The surrounding corridor is well-established with national retail tenants, including Walmart Supercenter, Home Depot, Sams Club, and Hobby Lobby. Downtown Lawrenceville is a short drive to the north, and access to Hwy. 316 and I-85 connect the site to the broader Atlanta metro area. The five-mile population exceeds 200,000, supported by a strong, growing residential base throughout Gwinnett County. This parcel is suitable for residential development.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lawrenceville
    County
    Gwinnett
    State
    Georgia
    Longitude
    -84.0009261
    Latitude
    33.9129554

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    FAQs

    What type of property is this?
    Land - 30.31-acre parcel with 1,200+ feet of frontage on Scenic Highway.
    Where is this land located?
    The property is located at 956 Scenic Highway Lawrenceville, GA.
    What is the asking price?
    The asking price for this property is $6,000,000.
    What are key features of this property?
    This property features: 30.31‑acre parcel with **over 1,200 feet of frontage on Scenic Highway (Hwy. 124).**; **High traffic count of over 40,000 vehicles per day on Scenic Highway.**; Sewer available, making it suitable for residential development.
    (706) 553-1000
    We can help!
    Listing Contact
    Brian Elrod
    Real Estate License ID: #251606
    Learn More
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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
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