Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1055 Hanover Dr Madison, GA 30650-4605
    Back to Search
    Property profile & analytics

    1055 Hanover Dr, Madison, GA 30650-4605

    View on Map
    • Auto shops
    • 2,640 SF
    • 0.40 lot acres
    Off-Market
    Last Sale Apr 20, 2021
    Property ID
    US22-3670853
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Georgia Plumbing Pros LLC / Plumbing Service / General Contractor
    • Airtekk Comfort Solutions / HVAC Service / General Contractor

    Property Details for 1055 Hanover Dr

    Year built
    2020
    Lot size
    0.40 lot acres
    Zone code
    C5
    Property type
    Auto shops
    APN
    M12 009
    APU
    M12009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 31, 2026 — Airtekk Comfort Solutions LLC — Deed · related $261k · Bank Of Madison County
    Apr 20, 2021 — Hanover Drive LLC Airtekk Comfort Solutions LLC Warranty Deed —
    Feb 23, 2021 $195,000 Airtekk Comfort Solutions LLC Ira Innovations LLC Fbo Warranty Deed $156k · Bank Of Madison County
    Dec 22, 2020 $109,750 Ira Innovations LLC Fbo Southern Landscape & Design Grp Warranty Deed —
    Mar 3, 2020 $5,000 Southern Landscape & Design LLC Em Investments LLC Warranty Deed —
    Jun 21, 2006 $115,000 Em Investments LLC Ervin Enterprises LLC Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Morgan
    State
    Georgia
    Longitude
    -83.4852
    Latitude
    33.5832
    CBSA code
    12060
    CBSA name
    ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,182
    $16,000
    $59,445
    $75,445
    -
    $40,000
    $148,613
    $188,613

    Comparable in this City

    • Value Estimation by Request
      2,250 SF

      1040 Commerce Dr

      AUTO REPAIR, GARAGE
      1040 Commerce Dr, Madison, GA 30650
      View Details
    • Value Estimation
      $1,375,000
      25,746 SF

      150 Washington St

      AUTO REPAIR, GARAGE
      150 Washington St, Madison, GA 30650-1306
      View Details
    • Value Estimation
      $685,000
      12,688 SF

      1600 Athens Hwy

      AUTO REPAIR, GARAGE
      1600 Athens Hwy, Madison, GA 30650-3726
      View Details
    • Value Estimation by Request
      6,000 SF

      1070 Commerce Dr

      AUTO REPAIR, GARAGE
      1070 Commerce Dr, Madison, GA 30650-4962
      View Details
    • Value Estimation by Request
      1,824 SF

      2191 Eatonton Rd

      AUTO REPAIR, GARAGE
      2191 Eatonton Rd, Madison, GA 30650-5046
      View Details
    • Value Estimation
      $1,160,000
      20,000 SF

      1590 Eatonton Rd

      AUTO REPAIR, GARAGE
      1590 Eatonton Rd, Madison, GA 30650-4627
      View Details

    Similar Nearby for Sale

    • $285,000
      1,080 SF

      Retail Opportunity in Madison, GA

      General store with kitchen space and included coolers.
      4420 Buckhead Rd, Madison, GA 30650
      View Details
    • $550,000
      2,295 SF

      Spacious Commercial Space in Madison

      Combined commercial space with loft, kitchen, and natural light.
      226 W Washington St, Madison, GA 30650
      View Details
    • $300,400
      16.24 Acres

      16.24 Acre Homestead in Madison

      Homestead with flat terrain and creek, ideal for building.
      Indian Creek Trl, Madison, GA 30650
      View Details
    • $795,000

      Versatile Acreage with Pasture and Potential

      Productive pasture, recreational land, and future potential in Georgia.
      1291 Apalachee River Rd, Madison, GA 30650
      View Details
    • $3,175,000
      211.66 Acres

      Recreational Land Near Downtown Madison

      211-acre recreational and investment property close to downtown Madison.
      Speed Ln, Madison, GA 30650
      View Details
    • New
      $3,194,051
      199.49 Acres

      Nearly 200 Acres in Madison

      Two parcels totaling nearly 200 acres near Madison, GA.
      2470 Fears Rd, Madison, GA 30650
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space For Rent

      Retail space available, ranging from 1,840 to 3,680 SqFt.
      1700 Eatonton Rd, Madison, GA 30650
      View Details
    • Contact for pricing
      13,813 SF

      Former Retail Building Near I-20

      Former Rite Aid building near Chick-Fil-A, Walmart, and I-20.
      1770 Eatonton Rd, Madison, GA 30650
      View Details
    • Contact for pricing

      Renovated Office Space in Madison

      Office space with excellent road frontage in Madison, Georgia.
      536 East Ave, Madison, GA 30650
      View Details
    • $1,650 /Mo
      1,080 SF

      Madison Office Suite For Rent

      Office suite near I-20 with flexible layout.
      2151 Eatonton Rd, Madison, GA 30650
      View Details
    • $32,085
      100,000 SF

      Madison GA Warehouse Space Available

      100,000 SF warehouse space for lease near I-20.
      1140 Monticello Hwy, Madison, GA 30650
      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.
    1055 Hanover Dr
    Madison, GA 30650-4605
    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

    Thank You for Inquiry
    1055 Hanover Dr, Madison, GA, 30650
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!