Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    391 Runway Rd Lavonia, GA 30553

    Property Lookup

    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    391 Runway Rd Lavonia, GA 30553

    View on Map
    • Commercial real estate
    • 2,500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 391 Runway Rd

    Year built
    2019
    Property size
    2,500 SF
    Property type
    Commercial real estate

    Description

    This exceptional 2,500 square foot commercial property, located at 391 Runway Road in Lavonia, Georgia, presents a unique investment opportunity. The property consists of a 50 x 50 foot hangar, complete with a 10 x 10 foot office and a bathroom, currently under construction. Included in the sale is a 99-year lease on a 0.19-acre lot within the Northeast Georgia Airpark. The airpark boasts a convenient location, situated along I-85, approximately 84 miles north of Atlanta, just before the South Carolina border. Its proximity to Lake Hartwell, Clemson, SC, and Athens, GA, offers significant advantages. The airpark itself features a substantial 3,000 ft x 50 ft concrete runway, complemented by a grass landing strip, ensuring excellent accessibility. Beyond the practical aspects, the property provides access to tranquil walking trails and a serene fish pond, offering a welcome blend of work and relaxation. This property is situated in one of Georgia's fastest-growing regions, presenting a compelling investment prospect with strong potential for future appreciation. The combination of a well-equipped hangar, convenient location, and attractive amenities makes this a truly exceptional offering.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lavonia
    County
    Franklin
    State
    Georgia
    Longitude
    -83.1799
    Latitude
    34.4123

    Comparable in this City

    • Value Estimation by Request
      0.76 Acres

      Broad Riv Air Park Rd

      Land • 0.76 Acres
      0 Broad Riv Air Park Rd, Lavonia, GA 30553
      View Details
    • Value Estimation by Request
      34.52 Acres

      Highway 17

      Commercial real estate • 34.52 Acres
      Highway 17, Lavonia, GA 30553
      View Details
    • Value Estimation by Request
      24.41 Acres

      1 Clear Creek Pkwy

      Commercial real estate • 24.41 Acres
      1 Clear Creek Pkwy, Lavonia, GA 30553
      View Details
    • Value Estimation by Request
      5.00 Acres

      761 Sewell Rd

      COMMERCIAL (GENERAL) • 5.00 Acres
      761 Sewell Rd, Lavonia, GA 30553-4970
      View Details
    • Value Estimation
      $1,630,000
      24,990 SF

      Ww Ave

      COMMERCIAL (GENERAL) • 24,990 SF
      Ww Ave, Lavonia, GA 30553
      View Details
    • Value Estimation
      $5,060,000
      12,225 SF

      187 Clear Crk Pkwy

      COMMERCIAL (GENERAL) • 12,225 SF
      187 Clear Crk Pkwy, Lavonia, GA 30553-6404
      View Details

    Similar Nearby for Sale

    • $2,100,000
      7.13 Acres

      Lavonia Commercial Land - I-85 Visibility

      7.13-acre commercial lot, prime I-85 location.
      Ross Pl, Lavonia, GA 30553
      View Details
    • Contact for pricing

      Land Parcels Totaling 23.89 Acres

      Land totaling 23.89 acres available for purchase.
      5601 Whitworth Rd, Lavonia, GA 30553
      View Details
    • Contact for pricing

      Land Lot for Sale

      Land lot available in Lavonia, Georgia.
      Whitworth Rd, Lavonia, GA 30553
      View Details
    • $3,500,000

      Land Parcels Near I-85

      23.89 acres of land ideal for a truck shop.
      5601 Whitworth Rd, Lavonia, GA 30553
      View Details
    • Contact for pricing
      0.13 Acres

      Residential Land Near Lake Hartwell

      Land with access to public water near Lavonia and I-85.
      Ridgeview Dr, Lavonia, GA 30553
      View Details
    • $925,000
      6.88 Acres

      Lavonia, GA Townhome Development Land

      Development opportunity: 6.9 acres with 54 townhome lots.
      7072 Highway 59, Lavonia, GA 30553
      View Details

    Similar Nearby for Lease

    • $5,500 /Mo
      17,000 SF

      Lavonia Warehouse with Loading Dock

      17,000 sq ft warehouse with loading dock for rent.
      720 E Main St, Lavonia, GA 30553
      View Details
    • Contact for pricing

      Established Shopping Center in Lavonia

      Multi-tenant shopping center anchored by Dill's City supermarket.
      12260 Augusta Rd, Lavonia, GA 30553
      View Details
    • Contact for pricing
      6,000 SF

      Industrial Space with Office

      6,000 SF industrial space with office near I-85.
      2749 Providence Church Rd, Lavonia, GA 30553
      View Details
    • $4,000 /Mo

      Industrial Building with Office Space

      Industrial building with office, dock door, and drive-in door.
      2749 Providence Church Rd, Lavonia, GA 30553
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    391 Runway Rd
    Lavonia, GA 30553
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!