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

    1510 Southlake Pkwy Morrow, GA 30260-3024

    • Strip malls
    • 17,400 SF
    • 1.43 lot acres
    OFF-MARKET
    Last Sale
    Oct 19, 2020
    $11,200,000
    Value Estimations
    $8,865,000
    Show details
    Cap Rate Potential
    2%
    Strip malls
    Location Intelligence
    Property ID
    US22-1392538
    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

    • First Priority Insurance Agency / Insurance Agency
    • US Marine Corps Recruiting Jonesboro / Military Recruiting Office
    • Southlake Festival / Shopping Center & Mall
    • Image of Faith / Hair Salon / Nail Salon
    • Clayton County Satellite Tag Office / Vehicle Inspection Center

    Property Details for 1510 Southlake Pkwy

    Year built
    1987
    Lot size
    1.43 lot acres
    Property size
    17,400 SF
    Zone code
    C
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    12-111A- B-010
    APU
    12111AB010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $9,730,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $9,735,000
      RESTAURANT
      $7,770,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Morrow
    County
    Clayton
    State
    Georgia
    Longitude
    -84.3406
    Latitude
    33.5756
    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
    2024
    $26,808
    $74,600
    $557,960
    $632,560
    -
    $186,500
    $1,394,900
    $1,581,400

    Comparable in this City

    • Value Estimation by Request
      3,936 SF

      1601 Lk Harbin Rd

      SHOPPING CENTER, STRIP CENTER • 3,936 SF
      1601 Lk Harbin Rd, Morrow, GA 30260-1721
      View Details
    • Value Estimation
      $905,000
      7,723 SF

      6284 Lee St

      SHOPPING CENTER, STRIP CENTER • 7,723 SF
      6284 Lee St, Morrow, GA 30260-1225
      View Details
    • Value Estimation
      $2,955,000
      3,000 SF

      2005 Mt Zion Rd

      SHOPPING CENTER, STRIP CENTER • 3,000 SF
      2005 Mt Zion Rd, Morrow, GA 30260-3313
      View Details
    • Value Estimation
      $1,880,000
      14,900 SF

      6735 Jonesboro Rd

      SHOPPING CENTER, STRIP CENTER • 14,900 SF
      6735 Jonesboro Rd, Morrow, GA 30260-2306
      View Details
    • Value Estimation
      $1,360,000
      22,629 SF

      1311 Mt Zion Rd

      SHOPPING CENTER, STRIP CENTER • 22,629 SF
      1311 Mt Zion Rd, Morrow, GA 30260-2325
      View Details
    • Value Estimation by Request
      3,030 SF

      1158 Frst Pkwy

      SHOPPING CENTER, STRIP CENTER • 3,030 SF
      1158 Frst Pkwy, Morrow, GA 30260-3464
      View Details

    Similar Nearby for Sale

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      22,000 SF

      Morrow Neighborhood Strip Center

      22,000 SF retail property with value-add opportunity.
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      View Details
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      39,920 SF

      Southlake Plaza: Prime Retail/Office

      Morrow, GA: 39,920 SF, 8 Units
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      High-traffic retail property, redevelopment potential.
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    • $1,400,000
      8,880 SF

      Commercial Property on North Parkway

      100% occupied, cash-flowing commercial property in Morrow, Georgia.
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    • New
      $250,000
      1,400 SF

      Morrow Mixed-Use Commercial Property

      Versatile commercial property suitable for various businesses in Morrow, GA.
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    • New
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      4,008 SF

      Morrow Restaurant/Bar on Large Lot

      Restaurant/bar with ample space and large parking lot for sale.
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    Similar Nearby for Lease

    • Contact for pricing

      Jonesboro Road Retail Opportunity

      Retail space adjacent to Del Taco on Jonesboro Road.
      Morrow, GA 30260
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    • $14 SF/Yr
      31,062 SF

      Morrow Retail Space: 31,062 SF

      Prime Retail Building, High Visibility, 7.8 Acres
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    • Contact for pricing
      91,493 SF

      Lake City Commons Retail Space

      High-traffic retail space for lease. Excellent location & visibility.
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      139,264 SF

      Southlake Festival Retail Center

      High-traffic retail space, 8 suites available.
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      206,190 SF

      Citizens Parkway Flex Space

      Large Flex Space Available; Clayton County
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      View Details
    • Contact for pricing
      465,072 SF

      Morrow Warehouse with 6,588 SF Office

      421,645 SF warehouse space with 6,588 SF office available.
      1791 Mount Zion Rd, Morrow, GA 30260
      View Details
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    1510 Southlake Pkwy
    Morrow, GA 30260-3024
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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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