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    1262 Ga-21 Springfield, GA 31329

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    1262 Ga-21 Springfield, GA 31329

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    • Restaurants
    • 2,622 SF
    • 1.19 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Restaurants

    Property Details for 1262 Ga-21

    Lot size
    1.19 lot acres
    Property size
    2,622 SF
    Property type
    Restaurants

    Description

    This exceptional 2,622-square-foot restaurant building presents a unique investment opportunity in Springfield, Georgia. Situated on a 1.19-acre lot (51,836 square feet) with 35 parking spaces, this single-tenant property boasts a highly visible location on GA-21, conveniently positioned between Savannah, Statesboro, and Pooler. The B-1 zoned property offers easy access for customers and employees alike. The building's previous tenant, a Burger King franchise, generated pre-COVID annual sales of $1.7 million, demonstrating strong potential for future success. The property features ample space for a variety of restaurant concepts. Utilities include electricity. Property taxes are $3 per square foot. The location offers a strategic advantage, benefiting from the growing population in Effingham County and its proximity to Savannah, a major metropolitan area. The property's address is 1262 GA-21, Springfield, GA 31329, with a cross street of S Laurel Street. The APN is S1150020. The entire building is currently vacant, providing immediate occupancy for a new tenant. This is an excellent opportunity to acquire a well-located, established restaurant space in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Effingham
    State
    Georgia
    Longitude
    -81.2964
    Latitude
    32.351

    Comparable in this City

    • Value Estimation by Request
      1,328 SF

      1260 Ga-21

      Restaurants • 1,328 SF
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      1,530 SF

      205 Laurel St

      RESTAURANT • 1,530 SF
      205 Laurel St, Springfield, GA 31329-3009
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    • Value Estimation by Request
      2,429 SF

      1325 Ga Hwy 21st S

      RESTAURANT • 2,429 SF
      1325 Ga Hwy 21st S, Springfield, GA 31329-5216
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    • Value Estimation
      $1,575,000
      2,151 SF

      1260 Ga Hwy 21st S

      RESTAURANT • 2,151 SF
      1260 Ga Hwy 21st S, Springfield, GA 31329-5200
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    • Value Estimation by Request
      2,182 SF

      840 Laurel St

      RESTAURANT • 2,182 SF
      840 Laurel St, Springfield, GA 31329-9235
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    • Value Estimation by Request
      1,952 SF

      Hwy 21

      RESTAURANT • 1,952 SF
      Hwy 21, Springfield, GA 31329
      View Details

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    • $1,450,000
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      Prime Land in Springfield, GA

      7.3-acre property in the heart of historic Springfield, GA.
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    Similar Nearby for Lease

    • $2,700 /Mo
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      Highway 21 Commercial Opportunity

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    • $1,500 /Mo
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      Downtown Springfield Commercial Space Available

      Retail/office space in downtown Springfield with natural light.
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    • $4,000 /Mo
      2,159 SF

      Renovated Commercial Space in Springfield

      Fully renovated commercial space in downtown Springfield available for lease.
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      Hwy 21 & McCall Land

      Commercial land available for rent at Hwy 21 & McCall.
      Hwy 21 & Mccall Rd, Springfield, GA 31329
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    • New
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      Professional Office Space Available

      Well-maintained commercial rental with shared amenities in a business-friendly setting.
      712 N Laurel St, Springfield, GA 31329
      View Details
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    1262 Ga-21
    Springfield, GA 31329
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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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