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    2600 Ga-212 Covington, GA 30016
    Property profile & analytics

    2600 Ga-212, Covington, GA 30016

    View on Map
    • Lifestyle centers
    • 12,000 SF
    • 3.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 2600 Ga-212

    Year built
    2005
    Lot size
    3.50 lot acres
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Newton
    State
    Georgia
    Longitude
    -83.9104
    Latitude
    33.4662

    Comparable in this City

    • Value Estimation
      $15,995,000
      125,971 SF

      3600 Salem Rd

      SHOPPING CENTER, STRIP CENTER
      3600 Salem Rd, Covington, GA 30016-4526
      View Details
    • Value Estimation
      $10,475,000
      78,800 SF

      5340 Hwy 20th S

      SHOPPING CENTER, STRIP CENTER
      5340 Hwy 20th S, Covington, GA 30016-8085
      View Details
    • Value Estimation
      $6,930,000
      53,994 SF

      3249 Salem Rd

      SHOPPING CENTER, STRIP CENTER
      3249 Salem Rd, Covington, GA 30016-1863
      View Details
    • Value Estimation
      $8,755,000
      66,660 SF

      13015 Brown Brg Rd

      SHOPPING CENTER, STRIP CENTER
      13015 Brown Brg Rd, Covington, GA 30016-9111
      View Details
    • Value Estimation by Request
      6,000 SF

      10 Birds Xing

      RETAIL STORES (PERSONAL SERVICES)
      10 Birds Xing, Covington, GA 30016-7829
      View Details
    • Value Estimation by Request
      151,955 SF

      4200 Salem Rd

      RETAIL STORES (PERSONAL SERVICES)
      4200 Salem Rd, Covington, GA 30016-4533
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land in Salem Road Area

      Commercial land with potential for rezoning in a busy area.
      4681 Salem Rd, Covington, GA 30016
      View Details
    • $415,700
      41.57 Acres

      Wooded Land with River Frontage

      Wooded property with river frontage, suitable for various uses.
      10-002 Butler Bridge Rd, Covington, GA 30016
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    • $125,000
      0.49 Acres

      Commercial Lot Near Kroger

      Commercial land for sale near Hwy 20/212 in Covington.
      5240 Highway 20 S, Covington, GA 30016
      View Details
    • $64,700
      3.20 Acres

      Covington Wooded Creek Lot

      3.2-acre wooded lot near Wildcat Creek in Covington, GA.
      195 Cedar Rd, Covington, GA 30016
      View Details
    • $325,000

      Industrial Acres with Road Frontages

      16.59 acres with frontage on Access and Pinyon Roads.
      105 Pinyon Rd, Covington, GA 30016
      View Details
    • $654,500

      Highway 212 Land For Sale

      Land available on Highway 212 in Covington, Georgia.
      7188 Highway 212, Covington, GA 30016
      View Details

    Similar Nearby for Lease

    • $2,100 /Mo

      Retail Space Available For Rent

      Retail space for rent in Covington, Georgia.
      40 Chamisa Rd, Covington, GA 30016
      View Details
    • Contact for pricing
      11,552 SF

      Healthcare Property for Lease

      Healthcare property available for lease in Covington, GA.
      3241 Iris Dr, Covington, GA 30016
      View Details
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    Covington, GA 30016
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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.

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    2600 Ga-212, Covington, GA, 30016
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