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    6152 Covington Hwy Lithonia, GA 30058
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    6152 Covington Hwy Lithonia, GA 30058

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    • Lifestyle centers
    • 144,585 SF
    • 1.25 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dollar Tree / Discount Store
    • Planet Fitness / Gym & Fitness Center
    • Coinstar / Bank / Credit Union

    Property Details for 6152 Covington Hwy

    Year built
    1989
    Lot size
    1.25 lot acres
    Property size
    144,585 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 144,585 square foot shopping center, located at 6152 Covington Highway in Lithonia, Georgia, presents a compelling investment opportunity. Built in 1989 and renovated in 2021, this multi-tenant retail property boasts an impressive 85% occupancy rate. The property sits on a 1.25-acre lot and is offered at $1,000,000, translating to a price per square foot of $6.92. The property features excellent street frontage and visibility, making it an ideal location for a variety of businesses. The lease type is NNN, offering a passive income stream for the investor. The property's prime location in DeKalb County, Georgia, zip code 30058, ensures high traffic and visibility. This is a rare opportunity to acquire a well-maintained, high-performing retail center in a thriving market. The property's APN is 1603901022

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lithonia
    County
    DeKalb
    State
    Georgia
    Longitude
    -84.1647
    Latitude
    33.7244

    Comparable in this City

    • Value Estimation by Request
      144,585 SF

      6152 Covington Hwy

      Lifestyle centers • 144,585 SF
      6152 Covington Hwy, Lithonia, GA 30058
      View Details
    • Value Estimation by Request
      98,676 SF

      7984 Rockbridge Rd

      Neighborhood centers • 98,676 SF
      7984 Rockbridge Rd, Lithonia, GA 30058
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    • Value Estimation by Request
      7,600 SF

      6116 Covington Hwy

      MINI-MALL • 7,600 SF
      6116 Covington Hwy, Lithonia, GA 30058-8380
      View Details
    • Value Estimation
      $3,730,000
      23,593 SF

      6766 Covington Hwy

      SHOPPING CENTER, STRIP CENTER • 23,593 SF
      6766 Covington Hwy, Lithonia, GA 30058
      View Details
    • Value Estimation
      $1,850,000
      15,288 SF

      2617 Panola Rd

      SHOPPING CENTER, STRIP CENTER • 15,288 SF
      2617 Panola Rd, Lithonia, GA 30058-4829
      View Details
    • Value Estimation
      $2,640,000
      81,545 SF

      6847 Main St

      SHOPPING CENTER, STRIP CENTER • 81,545 SF
      6847 Main St, Lithonia, GA 30058
      View Details

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      Commercial Space in Lithonia, Georgia

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      9,715 SF building on 2 AC lot for sale.
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      Commercial Property in Historic Lithonia

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    Similar Nearby for Lease

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      1,200 SF

      Retail Space in Rockbridge Square

      1,200 SF retail space for lease in Lithonia, GA.
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      Retail Space For Rent

      Retail space available for lease.
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      Lithonia Flex Space For Lease

      Industrial/Warehouse flex space available for lease in Lithonia, Georgia.
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      5.5 AC Industrial Outdoor Storage

      5.5 AC industrial land for outdoor storage, fenced and lit.
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      Industrial Single Tenant Opportunity

      Single tenant industrial space available for lease.
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      7,831 SF

      Industrial Property with Outside Storage

      Industrial building with outside storage and fenced yard for lease.
      6523 Marbut Rd, Lithonia, GA 30058
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    Lithonia, GA 30058
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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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