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Property profile & analytics
OFF-MARKET
Estimated value
$9,785,000
Warehouses
12245 Independence NE Dr Covington, GA 30014-1094
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US22-0824002
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1993
Construction
STEEL FRAME
Total area
154,520 SF
Lot
7.98 ac (347,609 SF)
Zoning code
C1
APN
C0800-00000-031-000
UPID
US22-0824002
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
$9.84M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.38M
Blend (final)
Blend
$9.79M
Owner & transaction history
Mfg Covington LLC · 3 yrs held
Mfg Covington LLC
since 2023
Last sale
$9.7M
7 recorded transactions
Zoning & alternative use
C1 · 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
$9,295,000
ML approach
$9,840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$14,380,000
Current use
Blend value · Realmo final
$9.79M
Range $8.81M – $10.76M · ±10% · vs last sale $9.70M (Jan 10 2023)
Last sale anchor
$9.70M
Jan 10 2023
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
$63 / 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
$123,650
Tax year 2023
Assessed value
$3,804,840
Assessed 2023
Previous assessed
$3,804,840
+0.0% YoY
Effective rate
3.25%
On assessed value
Assessed land
$42,000
Assessed improvement
$3,762,840
Land market value
$105,000
Improvement market value
$9,407,100
Total market value
$9,512,100
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
1993
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Bathrooms
2
Total area
154,520 SF
Lot
7.98 ac (347,609 SF)
Zoning code
C1
APN
C0800-00000-031-000
UPID
US22-0824002
Jurisdiction
NEWTON
Zoning & alternative use
C1 · Covington, GA
Zoning C1 · permitted uses
C1 · 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
WAREHOUSE, STORAGE Current
Est. value
$14.4M
WAREHOUSE, STORAGE Current
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
1993
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Bathrooms
2
Lot
7.98 ac
Current owner
From public records · entity-resolved
Mfg Covington LLC
Entity
Mailing address
507 OCEAN BLVD STE #301, SAINT SIMONS ISLAND, GA 31522-4841
Ownership since
2023
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
Jul 28, 2025
—
Mfg Covington LLC
—
Deed
related
$7,950,000 · United Community Bank
Jan 10, 2023
$9,700,000
Mfg Covington LLC
Capes Properties INC
Limited Warranty Deed
$7,760,000 · United Community Bank
Oct 13, 2009
—
Independence Ents
Capes,johnny & Peggy P
Quit Claim Deed
related
—
Mar 5, 2009
—
Independence Ents
Capes,johnny & Peggy P
Quit Claim Deed
related
—
Jan 3, 2009
—
Independence,enterprises LP
Capes,johnny L
Grant Deed
related
—
Aug 15, 2007
—
Johnny Capes
Roberts,sheri C
Grant Deed
related
—
Dec 31, 2006
$6,086,350
Gi Liberty LLC
Capes Liberty Drive LLC
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.
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