Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1502 Hwy 29th N Newnan, GA 30263-4738

    • Grocery and convenience stores
    • 2,856 SF
    • 1.38 lot acres
    OFF-MARKET
    Last Sale
    Nov 02, 2021
    $1,500,000
    Value Estimations
    $1,545,000
    Show details
    Cap Rate Potential
    2.9%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US22-1175361
    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

    • Grocery and convenience stores

    Property Details for 1502 Hwy 29th N

    Year built
    1994
    Construction
    WOOD FRAME
    Lot size
    1.38 lot acres
    Property size
    2,856 SF
    Zone code
    R1
    Property type
    Grocery and convenience stores
    APN
    085 5106 013
    APU
    855106013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,585,000
      ML approach
      $1,595,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Newnan
    County
    Coweta
    State
    Georgia
    Longitude
    -84.7724
    Latitude
    33.4207
    CBSA code
    12060
    CBSA name
    ATLANTA-SANDY SPRINGS-MARIETTA, 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
    2023
    $5,739
    $67,002
    $180,239
    $247,241
    -
    $167,505
    $450,598
    $618,103

    Comparable in this City

    • Value Estimation by Request
      1,476 SF

      544 Welcome To Arnco Rd

      CONVENIENCE STORE • 1,476 SF
      544 Welcome To Arnco Rd, Newnan, GA 30263-4596
      View Details
    • Value Estimation by Request
      4,780 SF

      2 Franklin Rd

      CONVENIENCE STORE • 4,780 SF
      2 Franklin Rd, Newnan, GA 30263-1312
      View Details
    • Value Estimation
      $1,400,000
      2,592 SF

      870 Hwy 16th E

      CONVENIENCE STORE • 2,592 SF
      870 Hwy 16th E, Newnan, GA 30263-7609
      View Details
    • Value Estimation by Request
      5,670 SF

      1389 Hwy 29th S

      CONVENIENCE STORE • 5,670 SF
      1389 Hwy 29th S, Newnan, GA 30263-4843
      View Details
    • Value Estimation
      $7,815,000
      49,100 SF

      48 Bullsboro Dr

      GROCERY, SUPERMARKET • 49,100 SF
      48 Bullsboro Dr, Newnan, GA 30263-1461
      View Details
    • Value Estimation by Request
      2,400 SF

      2 Dodson St

      CONVENIENCE STORE • 2,400 SF
      2 Dodson St, Newnan, GA 30263-2317
      View Details

    Similar Nearby for Sale

    • New
      $2,350,000
      5.93 Acres

      Pad-Ready Land in Newnan, GA

      5.93 acre commercial site approved for retail, medical, restaurant.
      5.93 Commercial Newnan Xing Byp, Newnan, GA 30263
      View Details
    • $475,000
      800 SF

      Historic Building in Downtown Newnan

      Charming 1900s building near Newnan's Square, versatile and open.
      15 E Broad St, Newnan, GA 30263
      View Details
    • New
      $3,000,000
      23,994 SF

      Historic Coca-Cola Building in Newnan

      Three buildings with ample parking in downtown Newnan, Georgia.
      167 Greenville St, Newnan, GA 30263
      View Details
    • Contact for pricing
      1,050 SF

      Newnan Airport Hangar For Sale

      Modern T-Hangar, 1050 sq ft, Georgia
      55 Nation Dr, Moreland, GA 30263
      View Details
    • $1,400,000
      3,432 SF

      Restaurant Property with Established Business

      Turnkey restaurant with real estate, FF&E, and ongoing business.
      91 Millard Farmer Industrial Blvd, Newnan, GA 30263
      View Details
    • $240,000
      14.23 Acres

      Genesee Ave Retail Opportunity

      15,000 SF Retail Space, High Visibility
      0 Witcher Rd, Newnan, GA 30263
      View Details

    Similar Nearby for Lease

    • $1,400 /Mo
      1,530 SF

      Retail Space in Newnan, GA

      Retail suite in strip center near I-85 for lease.
      575 Pine Rd, Newnan, GA 30263
      View Details
    • $2,333 /Mo
      54,000 SF

      Newnan Retail or Office Space

      Retail or office space in bustling Westside Plaza.
      273 Temple Ave, Newnan, GA 30263
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Newnan, GA

      Retail space in a prominent retail district with high visibility.
      1111 Bullsboro Dr, Newnan, GA 30263
      View Details
    • Contact for pricing

      Kroger Anchored Shopping Center Space

      Recently renovated shopping center anchored by Kroger and Ollie's.
      50 Bullsboro Dr, Newnan, GA 30263
      View Details
    • $12 SF/Yr
      4,700 SF

      Newnan Event Space For Lease

      4700 sq ft Retail Space, Ideal for Events
      55 Mayo Royal Industrial Dr, Newnan, GA 30263
      View Details
    • Contact for pricing
      146,121 SF

      Newnan Executive Office Space

      Prime Newnan Office, Retail & Restaurant Space
      228 Bullsboro Dr, Newnan, GA 30263
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1502 Hwy 29th N
    Newnan, GA 30263-4738
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.