Commercial Land
For Sale
$1,550,000
13.58 ACRES Zebulon Road, Griffin, GA 30224
Commercial Sale, Griffin, GA
Property Size4,290 SF
Lot Size13.58 Acres
Price / SF$361.31
Days on Market239
Property Features for 13.58 ACRES Zebulon Road
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Level
Directions
Use driveway opposite of O'Reilly Auto Parts at the Shell Gas Station - address 1779 Zebulon Rd, Griffin, GA 30224
Standard status
Active
APN
233 06001A, 233 06001B & 233 06001E
Size
4,290 SF
Lot size
13.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5507
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Additional Structures
Residence
Listing Agency:
SouthSide, REALTORS
(770) 914-2122
Listed By:
Angie M Burdeshaw
(678) 481-0590
Added: Jan 2
Changed: Aug 19
Last Checked: Aug 29 at 11:06AM
MLS# 10665976
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial land offering combines three contiguous parcels totaling 13.58 acres along Zebulon Road. The assemblage includes an existing 4,290-square-foot residence built in 1976, with one parcel currently occupied. Public water and public sewer serve the property, while available sewer capacity is stated at up to 40,000 gallons per day for qualifying development plans.
The site has approximately 17,000-20,000 vehicles per day, a deceleration lane, and two shared driveways. It is near a signalized intersection and established residential neighborhoods, with nearby retailers and restaurants including Starbucks, Ingles, Walgreens, McDonald's, Zaxby's, RaceTrac, Waffle House, O'Reilly Auto Parts, Big Peach Car Wash, and the future Dairy Queen. The property is approximately 4.5 miles from Downtown Griffin, 6 miles from the Pike County VA Clinic, and 35 miles south of Hartsfield-Jackson Atlanta International Airport. Potential concepts identified for the site include townhomes, senior living, medical office, retail, restaurants, drive-thru uses, and mixed-use development, subject to zoning and governmental approvals.
The site has approximately 17,000-20,000 vehicles per day, a deceleration lane, and two shared driveways. It is near a signalized intersection and established residential neighborhoods, with nearby retailers and restaurants including Starbucks, Ingles, Walgreens, McDonald's, Zaxby's, RaceTrac, Waffle House, O'Reilly Auto Parts, Big Peach Car Wash, and the future Dairy Queen. The property is approximately 4.5 miles from Downtown Griffin, 6 miles from the Pike County VA Clinic, and 35 miles south of Hartsfield-Jackson Atlanta International Airport. Potential concepts identified for the site include townhomes, senior living, medical office, retail, restaurants, drive-thru uses, and mixed-use development, subject to zoning and governmental approvals.
Key Highlights
- 13.58‑acre assemblage of three contiguous parcels
- Approximately 17,000‑20,000 vehicles per day along Zebulon Road
- Deceleration lane and two shared driveways provide established site access
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
$56,628
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
3.65%
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%
$1,132,560
$1.1M
Cap Rate 7%
$808,971
$809.0K
Cap Rate 9%
$629,200
$629.2K
Market Conditions
NOI Build-Up for 4,290 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
$103.0K $24.00/SF
− Vacancy
−$12.4K −$2.88/SF
EGI
$90.6K $21.12/SF
− OpEx
−$34.0K −$7.92/SF
NOI
$56.6K $13.20/SF
Area
Spalding County, GA
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,132,560
Cap Rate 7%
$808,971
Cap Rate 9%
$629,200
Alternative Uses
Best Use
Mixed Use
$809.0K
$707.9K – $943.8K
NOI $56,628 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.41M
NOI $84,324 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20,000 VPD
Traffic count
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Explore this area
Business Placement
Demographics for 30224, GA
26,696
Population
11,457
Households
2.3
Avg Household Size
40
Median Age
22%
College-Educated
88%
High-School Grad
67.7 sq mi
ZIP Area
394
Density / Sq Mi
$70,134
Median Household Income
$39,667
Median Earnings
$1,105
Median Rent
$210,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Contiguous commercial parcels offer public water, public sewer, and multiple access points along an established commercial corridor.
Where is this commercial land located?
The property is located at 13.58 ACRES Zebulon Road Griffin, GA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 13.58‑acre assemblage of three contiguous parcels; Approximately 17,000‑20,000 vehicles per day along Zebulon Road; Deceleration lane and two shared driveways provide established site access
