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Property profile & analytics
OFF-MARKET
Estimated value
$2,410,000
Retail space
1405 Iris SE Dr Conyers, GA 30013-1715
Entity Owned
4-yr Hold
Free & Clear
Property ID
US22-1624164
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1986
Construction
STEEL FRAME
Total area
13,800 SF
Lot
0.95 ac (41,382 SF)
Zoning code
C2
APN
075-0-01-006D
UPID
US22-1624164
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
Current use
Occupant on record · Public records
-
Badcock Home Furniture &more Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.44M
CAP Approach
CAP
$2.99M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.41M
Owner & transaction history
National Retail Properties LP · 4 yrs held
National Retail Properties LP
since 2022
Last sale
$2.4M
3 recorded transactions
Zoning & alternative use
C2 · Conyers, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.5M
+15.3%
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 Conyers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conyers 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
$2,445,000
ML approach
$2,440,000
CAP Approach
CAP Return
Estimation
6%
$3,235,000
6.5%
$2,985,000
7%
$2,775,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,205,000
Current use
MEDICAL BUILDING
$2,540,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$2.41M
Range $2.17M – $2.65M · ±10% · vs last sale $2.38M (Mar 31 2022)
Last sale anchor
$2.38M
Mar 31 2022
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
$175 / 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
$17,162
Tax year 2023
Assessed value
$416,440
Assessed 2023
Previous assessed
$416,440
+0.0% YoY
Effective rate
4.12%
On assessed value
Assessed land
$94,920
Assessed improvement
$321,520
Land market value
$237,300
Improvement market value
$803,800
Total market value
$1,041,100
Applied tax rate
1.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1986
Construction
STEEL FRAME
Heating
ELECTRIC
Cooling
EVAPORATIVE
Stories
1
Bathrooms
1
Total area
13,800 SF
Lot
0.95 ac (41,382 SF)
Zoning code
C2
APN
075-0-01-006D
UPID
US22-1624164
Jurisdiction
ROCKDALE
Zoning & alternative use
C2 · Conyers, GA
Zoning C2 · permitted uses
C2 · Conyers, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conyers. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.5M
RETAIL STORES Current
MEDICAL BUILDING
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
1986
Construction
STEEL FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
National Retail Properties LP
Entity
Free & Clear · 4 yrs held
Mailing address
450 S ORANGE AVE STE #900, ORLANDO, FL 32801-3339
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2022
$2,380,183
National Retail Properties LP
W S Badcock Corp
Warranty Deed
—
Apr 2, 2018
—
W S Badcock Corp
—
Deed
related
$4,395,000 · Centerstate Bk NA
—
—
W S Badcock Corp
—
Deed Of Trust
related
$4,395,000 · Centerstate Bk NA
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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