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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1488 Jesse Jewell SE Pkwy Gainesville, GA 30501-3803

    • Medical offices
    • 12,346 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Jun 16, 2023
    $2,300,000
    Value Estimations
    $2,300,000
    Show details
    Cap Rate Potential
    7.2%
    Medical offices
    Location Intelligence
    Property ID
    US22-1756725
    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.

    Current Use by Public Records

    • Winham Robert J MD / Physician
    • Dr. Gregory L. Johnson, MD / Pediatrician / Medical Clinic
    • Bailey James M MD / Physician
    • Shapiro Eric MD / Physician
    • Zottnick Kerry T MD / Physician

    Property Details for 1488 Jesse Jewell SE Pkwy

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    0.23 lot acres
    Property size
    12,346 SF
    Zone code
    L-I
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    01-061 -002-025
    APU
    1061002025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,320,000
      ML approach
      $2,285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,785,000
      6.5%
      $2,570,000
      7%
      $2,385,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,881,000
      Market price range: $1.66M - $3.41M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,635,000
      Current use
      RESTAURANT
      $3,645,000
      Change: +38% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,350,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Hall
    State
    Georgia
    Longitude
    -83.8068
    Latitude
    34.3057
    CBSA code
    23580
    CBSA name
    GAINESVILLE, 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
    2024
    $26,347
    $360,000
    $684,360
    $1,044,360
    -
    $900,000
    $1,710,900
    $2,610,900

    Comparable in this City

    • Value Estimation
      $2,430,000
      16,455 SF

      700 Enota Dr Nene

      MEDICAL BUILDING • 16,455 SF
      700 Enota Dr Nene, Gainesville, GA 30501-2403
      View Details
    • Value Estimation
      $15,040,000
      102,317 SF

      1315 Jesse Jewell NE Pkwy

      MEDICAL BUILDING • 102,317 SF
      1315 Jesse Jewell NE Pkwy, Gainesville, GA 30501-3811
      View Details
    • Value Estimation
      $2,485,000
      20,480 SF

      1480 Jesse Jewell SE Pkwy

      MEDICAL BUILDING • 20,480 SF
      1480 Jesse Jewell SE Pkwy, Gainesville, GA 30501-3852
      View Details
    • Value Estimation
      $1,600,000
      10,062 SF

      2350 Limestone Pkwy

      MEDICAL BUILDING • 10,062 SF
      2350 Limestone Pkwy, Gainesville, GA 30501-2013
      View Details
    • Value Estimation
      $2,075,000
      16,025 SF

      2335 Limestone Pkwy

      MEDICAL BUILDING • 16,025 SF
      2335 Limestone Pkwy, Gainesville, GA 30501
      View Details
    • Value Estimation
      $3,415,000
      29,040 SF

      2061 Beverly Rd

      MEDICAL BUILDING • 29,040 SF
      2061 Beverly Rd, Gainesville, GA 30501-2034
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,160 SF

      Medical Office Building For Sale

      Class B medical office building near Northeast Georgia Medical Center.
      1498 Jesse Jewell Pkwy, Gainesville, GA 30501
      View Details
    • Contact for pricing
      12,000 SF

      Gainesville Industrial Space For Lease

      1500 SF industrial space with warehouse and office. For lease.
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      13,992 SF

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      Iconic office building in Gainesville, suitable for owner/user or investor.
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    • $599,900
      4,200 SF

      Gainesville Office/Retail Building For Sale

      Newly constructed office/retail building in Gainesville's high-intensity area.
      535 Queen City Pkwy, Gainesville, GA 30501
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    • Contact for pricing
      12,000 SF

      Gainesville Light Industrial Flex Space

      6,000 SF light industrial space with office. For lease.
      2427 Hilton Way, Gainesville, GA 30501
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    • $1,875,000
      6,443 SF

      Gainesville Commercial Opportunity

      Two-building property in downtown Gainesville with flexible space.
      511 Main St SW, Gainesville, GA 30501
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      27,000 SF

      Furnished Office Space Available

      First-class, furnished office space near downtown Gainesville.
      329 Oak St, Gainesville, GA 30501
      View Details
    • Contact for pricing
      9,594 SF

      Gainesville Office/Warehouse/Flex Space

      9,594 sq ft office/warehouse/flex space for sale or lease.
      2481 Hilton Dr, Gainesville, GA 30501
      View Details
    • $22 SF/Yr
      27,411 SF

      Gainesville Executive Office Space

      Class A Office Suites Available Downtown
      500 Jesse Jewell Pkwy, Gainesville, GA 30501
      View Details
    • $13,960 /Mo
      6,443 SF

      Downtown Gainesville Commercial Opportunity

      Two-building property in downtown Gainesville with retail and warehouse space.
      511 Main St SW, Gainesville, GA 30501
      View Details
    • $1,500 /Mo
      6,906 SF

      Gainesville Office Space Available

      Second floor office suite with shared kitchen and ample parking.
      629 Dawsonville Hwy, Gainesville, GA 30501
      View Details
    • $2,195 /Mo
      13,948 SF

      Prime Office Space Near Downtown

      960 SF office space near Gainesville's downtown square.
      200 W Academy St NW, Gainesville, GA 30501
      View Details
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    Gainesville, GA 30501-3803
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    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
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