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Property profile & analytics
OFF-MARKET
Estimated value
$14,290,000
Warehouses
12176 Independence NE Dr Covington, GA 30014
Entity Owned
6-yr Hold
Free & Clear
Property ID
US22-1904521
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1984
Total area
300,000 SF
Lot
14.11 ac (614,632 SF)
Zoning code
I4
APN
C0800-00000-031-A00
UPID
US22-1904521
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$15.63M
Blend (final)
Blend
$14.29M
Owner & transaction history
1776 Liberty Covington LLC · 6 yrs held
1776 Liberty Covington LLC
since 2019
7 recorded transactions
Zoning & alternative use
I4 · Covington, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$14.29M
Range $12.86M – $15.72M · ±10%
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
$48 / 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
$72,045
Tax year 2023
Assessed value
$2,216,920
Assessed 2023
Previous assessed
$2,216,920
+0.0% YoY
Effective rate
3.25%
On assessed value
Assessed land
$119,880
Assessed improvement
$2,097,040
Land market value
$299,700
Improvement market value
$5,242,600
Total market value
$5,542,300
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1984
Heating
FLOOR/WALL FURNACE
Cooling
EVAPORATIVE
Total area
300,000 SF
Lot
14.11 ac (614,632 SF)
Zoning code
I4
APN
C0800-00000-031-A00
UPID
US22-1904521
Jurisdiction
NEWTON
Zoning & alternative use
I4 · Covington, GA
Zoning I4 · permitted uses
I4 · 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.
Building & site characteristics
From public records
Year built
1984
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Lot
14.11 ac
Current owner
From public records · entity-resolved
1776 Liberty Covington LLC
Entity
Free & Clear · 6 yrs held
Mailing address
3 COLUMBUS CIR FL, NEW YORK, NY 10019-8760
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Nov 7, 2019
—
1776 Liberty Covington LLC
Iai Covington LP
Quit Claim Deed
related
—
Nov 7, 2019
$12,332,000
1776 Liberty Covington LLC
Iai Covington LP
Grant Deed
—
Sep 4, 2018
$6,500,000
Iai Covington LP
121776 Liberty Drive Jlt LLC
Grant Deed
$6,300,000 · Synovus Bk
Feb 11, 2013
$5,594,600
121776 Liberty Drive Jlt LLC
Capes,jerry O & Barbara O
Grant Deed
$5,594,555 · Capes Warehouses INC
Jan 18, 2013
$5,594,555
121776 Liberty Drive Jlt LLC
Capes,jerry O
Grant Deed
—
Feb 7, 2012
$4,947,300
Jerry O Capes
Capes Liberty Drive LLC
Trustees Deed
related
—
Jan 7, 2012
$4,947,300
Jerry O Capes
Capes Liberty Drive LLC
Grant Deed
related
—
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.
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