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

    1515 Westfork Dr Lithia Springs, GA 30122-1599

    • Medical offices
    • 6,134 SF
    • 0.89 lot acres
    OFF-MARKET
    Last Sale
    Sep 01, 2022
    $920,000
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-0824535
    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

    • TEETH XPRESS / Dental Clinic
    • Sweet Water Family Dentistry / Dental Clinic
    • Laster Sherry / Dentist
    • Equity Insurance Solutions / Insurance Agency / Auto Insurance Agency
    • Dr. Yitzhak A. Melamed, MD / Pediatrician

    Property Details for 1515 Westfork Dr

    Year built
    2001
    Construction
    WOOD FRAME
    Lot size
    0.89 lot acres
    Property size
    6,134 SF
    Zone code
    PUD
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    0424-18-2- -00008
    APU
    42418200008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $585,000
      ML approach
      $590,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $674,000
      Market price range: $207k - $1.07M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lithia Springs
    County
    Douglas
    State
    Georgia
    Longitude
    -84.6236
    Latitude
    33.7881
    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
    $11,704
    $72,880
    $295,120
    $368,000
    -
    $182,200
    $737,800
    $920,000

    Comparable in this City

    • Value Estimation
      $3,695,000
      14,057 SF

      551 Thornton Rd

      MEDICAL BUILDING • 14,057 SF
      551 Thornton Rd, Lithia Springs, GA 30122-1552
      View Details
    • Value Estimation
      $320,000
      15,260 SF

      939 Bob Arnold Blvd

      MEDICAL BUILDING • 15,260 SF
      939 Bob Arnold Blvd, Lithia Springs, GA 30122-3258
      View Details
    • Value Estimation
      $3,020,000
      25,614 SF

      880 Crestmark Dr

      MEDICAL BUILDING • 25,614 SF
      880 Crestmark Dr, Lithia Springs, GA 30122-2646
      View Details
    • Value Estimation
      $675,000
      3,075 SF

      2168 Skyview Dr

      DENTAL BUILDING • 3,075 SF
      2168 Skyview Dr, Lithia Springs, GA 30122-2638
      View Details
    • Value Estimation
      $295,000
      7,719 SF

      7117 Sweetwater Rd

      MEDICAL BUILDING • 7,719 SF
      7117 Sweetwater Rd, Lithia Springs, GA 30122-2446
      View Details
    • Value Estimation
      $270,000
      5,532 SF

      939 Thornton Rd

      MEDICAL BUILDING • 5,532 SF
      939 Thornton Rd, Lithia Springs, GA 30122-2634
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,200 SF

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      3,200 SF office/flex space suitable for office or storage.
      1810 Lee Rd, Lithia Springs, GA 30122
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      2.85 Acres, Prime Lithia Springs Location
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      Prime Commercial Land Opportunity

      1.9 acre lot near I-20 with development potential.
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      Industrial Lot in Lithia Springs

      5-acre industrial lot in Lithia Springs, GA, near major transportation.
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    Similar Nearby for Lease

    • Contact for pricing
      395,750 SF

      Spacious Lithia Springs Warehouse

      395,750 SF warehouse space available for lease.
      2124 Skyview Dr, Lithia Springs, GA 30122
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    • Contact for pricing
      58,448 SF

      Douglas County Sublease Opportunity

      14,974 SF available for sublease, convenient interstate access.
      1701 Westfork Dr, Lithia Springs, GA 30122
      View Details
    • Contact for pricing
      22,237 SF

      Industrial Space Available For Lease

      22,237 SF industrial space with office in Lithia Springs.
      320 Thornton Rd, Lithia Springs, GA 30122
      View Details
    • Contact for pricing
      23,901 SF

      Lithia Springs Warehouse Space Available

      Available warehouse space in Lithia Springs, Georgia.
      322 Thornton Rd, Lithia Springs, GA 30122
      View Details
    • Contact for pricing
      1,700 SF

      Retail Space on Thornton Road

      1,700 SF retail space in high-traffic area near I-20.
      865 Thornton Rd, Lithia Springs, GA 30122
      View Details
    • $2 SF/Yr
      225,000 SF

      Lithia Springs Warehouse Space

      225,000 SF warehouse space available for lease.
      2601 Skyview Dr, Lithia Springs, GA 30122
      View Details
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    1515 Westfork Dr
    Lithia Springs, GA 30122-1599
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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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