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Property profile & analytics
FOR LEASE
Industrial properties
12101 Harland Dr NE Covington, GA 30014
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US22-1131236
For Lease
1 / 8
$15,920,000
12101 Harland Dr NE, Covington, GA 30014
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2020
Construction
CONCRETE
Total area
188,699 SF
Lot
12.04 ac (524,462 SF)
Zoning code
C4
APN
C0800-00000-076-000
UPID
US22-1131236
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.27M
CAP Approach
CAP
$17.69M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.92M
Owner & transaction history
Middlesex Elite Realty LLC · 5 yrs held
Middlesex Elite Realty LLC
since 2020
Last sale
$14.5M
7 recorded transactions
Zoning & alternative use
C4 · Covington, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$25.5M
+876.7%
Restaurant
$24.9M
+853.9%
Auto repair, garage
$21.8M
+736.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Covington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$20,650,000
ML approach
$12,265,000
CAP Approach
CAP Return
Estimation
6%
$19,160,000
6.5%
$17,685,000
7%
$16,420,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$25,490,000
Change: +877% · Conversion: Difficult
RESTAURANT
$24,895,000
Change: +854% · Conversion: Difficult
AUTO REPAIR, GARAGE
$21,830,000
Change: +737% · Conversion: Easy
MEDICAL BUILDING
$20,555,000
Change: +688% · Conversion: Difficult
RETAIL STORES
$12,215,000
Change: +368% · Conversion: Moderate
Blend value · Realmo final
$15.92M
Range $14.33M – $17.51M · ±10% · vs last sale $14.49M (Sep 2 2020)
Last sale anchor
$14.49M
Sep 2 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$84 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$165,498
Tax year 2023
Assessed value
$5,092,560
Assessed 2023
Previous assessed
$5,092,560
+0.0% YoY
Effective rate
3.25%
On assessed value
Assessed land
$144,480
Assessed improvement
$4,948,080
Land market value
$361,200
Improvement market value
$12,370,200
Total market value
$12,731,400
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
2020
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Total area
188,699 SF
Lot
12.04 ac (524,462 SF)
Zoning code
C4
APN
C0800-00000-076-000
UPID
US22-1131236
Jurisdiction
NEWTON
Zoning & alternative use
C4 · Covington, GA
Zoning C4 · permitted uses
C4 · Covington, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Covington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$25.5M
RESTAURANT
Est. value
$24.9M
AUTO REPAIR, GARAGE
Est. value
$21.8M
MEDICAL BUILDING
Est. value
$20.6M
RETAIL STORES
Est. value
$12.2M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2020
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Lot
12.04 ac
Current owner
From public records · entity-resolved
Middlesex Elite Realty LLC
Entity
Mailing address
100 MIDDLESEX AVE STE 1A, CARTERET, NJ 07008-3499
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 12, 2025
—
Middlesex Elite Realty LLC
—
Deed
related
$13,000,000 · Provident Bank
Aug 10, 2021
—
Middlesex Elite Realty LLC
—
Deed
related
$5,420,000 · Capital Partners Certified Development
Feb 25, 2021
—
Middlesex Elite Realty LLC
—
Deed
related
$9,197,100 · Bank Five Nine
Sep 2, 2020
—
Middlesex Elite Realty LLC
Cp Logistics Harland Road LLC
Quit Claim Deed
related
—
Sep 2, 2020
$14,493,400
Middlesex Elite Realty LLC
Cp Logistics Harland Road LLC
Grant Deed
$10,500,000 · Thorofare Asset Based Lndg Rei
Mar 19, 2019
—
Cp Logistics Harland Road LLC
Gensteel Doors USA LLC
Quit Claim Deed
related
—
Sep 6, 2016
$355,200
Gensteel Doors USA LLC
Stone Mountain Indl Park INC
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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