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

    1029 Queens Bridge Way Griffin, GA 30223

    • Commercial real estate
    • 1.54 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1168214
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1029 Queens Bridge Way

    Lot size
    1.54 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.54-acre lot presents a remarkable opportunity for residential development in the desirable Parliament Place Subdivision of Griffin, Georgia. Located at 1029 Queens Bridge Way, this property offers ample space for building your dream home. The land is zoned for residential use, providing flexibility for various construction plans. With its generous size, the lot allows for substantial landscaping and privacy. The address is conveniently situated within the 30223 zip code, offering easy access to local amenities, schools, and transportation routes. Utilities are available to connect to the property, simplifying the building process. The asking price for this prime residential lot is $79,900, representing excellent value in the current market. This is a rare opportunity to acquire a sizable residential lot in a sought-after Griffin neighborhood. Buyers are encouraged to conduct their own due diligence regarding zoning regulations and building permits. Don't miss out on this chance to build your future in this peaceful and convenient location. The property is ready for immediate development, making it an ideal choice for those seeking a quick and straightforward building project. The expansive lot size provides ample space for a large home and extensive outdoor living areas.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Griffin
    County
    SPALDING
    State
    Georgia
    Longitude
    -84.179961
    Latitude
    33.304048

    Comparable in this City

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      32-Unit Value-Add Portfolio, Griffin, GA

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    • $265,000
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    • $107,500
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      Griffin Multi-Family Investment Opportunity

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    • $325,000
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    • $215,000
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      Griffin GA Multifamily Investment Package

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    Similar Nearby for Sale

    • $185,000
      4.59 Acres

      Griffin, GA Land: Hwy 16 Frontage

      4.59 Acres, $185,000, Residential Zoning
      0 Walkers Ml Rd & Hwy 16, Griffin, GA 30223
      View Details
    • $2,250,000
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      32-Unit Value-Add Portfolio, Griffin, GA

      32-unit portfolio in Griffin, GA with value-add opportunity.
      32 Unit Mutlipl Multiple, Griffin, GA 30223
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    • $265,000
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      7.4 Acre Commercial Tract

      7.4 acre commercial tract with frontage on GA Hwy 3.
      3939 Atl. Rd, Griffin, GA 30223
      View Details
    • $325,000
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      Griffin Multifamily Investment Package

      Seven properties on four lots near downtown Griffin, Georgia.
      637 Hallyburton St, Griffin, GA 30223
      View Details
    • $215,000
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      Griffin GA Multifamily Investment Package

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      202 Lexington Ave, Griffin, GA 30223
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      Griffin, GA Duplex Investment

      Fully occupied duplex in Griffin, GA, generating instant revenue.
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    Similar Nearby for Lease

    • $2,000 /Mo
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    • Contact for pricing
      1,000,000 SF

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    • $16 SF/Yr
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      Griffin Expressway Office Space

      Prime Office Space, Multiple Uses
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    • $1,300 /Mo
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      Retail/Office Space in Griffin, GA

      1200 sq ft retail or office space for lease.
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    • Contact for pricing
      235,318 SF

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      High-traffic retail space available in Georgia.
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    • $8,000 /Mo
      6,250 SF

      Griffin Commercial Property For Rent

      6250 SF retail/warehouse space with high visibility.
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    1029 Queens Bridge Way
    Griffin, GA 30223
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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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