Warehouse and Convenience Store
For Sale
$1,050,000
973 Sheppard Road, Stone Mountain, GA 30083
Two adjacent parcels totaling about 1.50 acres with a 15-foot clear warehouse and a convenience store building.
Property Size3,200 SF
Lot Size1.50 Acres
Price / SF$184.21
Days on Market77
Property Features for 973 Sheppard Road
General Information
Standard status
Active
Size
3,200 SF
Lot size
1.50 Acres
Property subtype
Warehouse
Zoning
GC
Warehouse & Industrial
Clear Height
15 ft
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$6,125
Building Details
Building Size
3,200 SF
Year Built
1969
Listing Agency:
Swartz Co Residential Real Estate
Listed By:
Connie Bridges · License #373999
(678) 758-1011
Source:
Evatlanta
Added: Jun 22
Changed: Aug 23
Last Checked: Sep 5 at 5:47AM
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 Swartz Co Residential Real Estate
Investment Insights
Based on property information with market context.
An exclusive two-parcel commercial assemblage totaling approximately 1.50 acres with about 15,700 square feet of existing improvements. The property includes 973 Sheppard Road, improved with a ±3,200-square-foot warehouse on approximately 0.50 acres, offering approximately 15-foot clear height, two drive-through bay doors, a small office, and one restroom, along with a detached storage structure. 979 Sheppard Road comprises approximately 1.00 acre and is improved with a ±2,500-square-foot commercial building currently configured as a retail convenience store.
Both parcels are zoned General Commercial (GC) by the City of Stone Mountain, providing flexibility for a wide range of commercial uses by right, including professional and administrative offices, financial institutions, medical clinics, restaurants, food and beverage retailers, general retail, convenience stores, schools and educational facilities, religious institutions, animal sales and services, business equipment sales, commercial recreation, communication services, and consumer service businesses. The listing represents an opportunity for investors, owner-users, or developers seeking multiple paths to value within a GC-zoned assemblage.
Buyer should verify zoning and all details. Square footage and acreage are approximate.
Both parcels are zoned General Commercial (GC) by the City of Stone Mountain, providing flexibility for a wide range of commercial uses by right, including professional and administrative offices, financial institutions, medical clinics, restaurants, food and beverage retailers, general retail, convenience stores, schools and educational facilities, religious institutions, animal sales and services, business equipment sales, commercial recreation, communication services, and consumer service businesses. The listing represents an opportunity for investors, owner-users, or developers seeking multiple paths to value within a GC-zoned assemblage.
Buyer should verify zoning and all details. Square footage and acreage are approximate.
Key Highlights
- Two adjacent commercial parcels at 973 & 979 Sheppard Road totaling approx. 1.50 acres with approx. 15,700 SF of improvements.
- 973 Sheppard Road: approx. 3,200 SF warehouse on approx. 0.50 acres with approx. 15‑foot clear height and two drive‑through bay doors.
- Warehouse includes a small office and one restroom, plus a detached storage structure for added functional space.
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
$91,601
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
8.72%
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%
$1,832,020
$1.8M
Cap Rate 7%
$1,308,586
$1.3M
Cap Rate 9%
$1,017,789
$1.0M
Market Conditions
NOI Build-Up for 5,700 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
$131.3K $23.04/SF
− Vacancy
−$9.2K −$1.61/SF
EGI
$122.1K $21.43/SF
− OpEx
−$30.5K −$5.36/SF
NOI
$91.6K $16.07/SF
Area
DeKalb 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%
$1,832,020
Cap Rate 7%
$1,308,586
Cap Rate 9%
$1,017,789
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,601 @ 7.0% cap · market cap 8.72%
Second Best
Retail
$1.15M
$1.00M – $1.34M
NOI $80,173 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,536 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30083, GA
58,064
Population
24,282
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
85%
High-School Grad
17.9 sq mi
ZIP Area
3,244
Density / Sq Mi
$54,162
Median Household Income
$33,586
Median Earnings
$1,356
Median Rent
$221,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Two adjacent parcels totaling about 1.50 acres with a 15-foot clear warehouse and a convenience store building.
Where is this warehouse located?
The property is located at 973 Sheppard Road Stone Mountain, GA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two adjacent commercial parcels at 973 & 979 Sheppard Road totaling approx. 1.50 acres with approx. 15,700 SF of improvements.; 973 Sheppard Road: approx. 3,200 SF warehouse on approx. 0.50 acres with approx. 15‑foot clear height and two drive‑through bay doors.; Warehouse includes a small office and one restroom, plus a detached storage structure for added functional space.
