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Property profile & analytics
OFF-MARKET
Estimated value
$860,000
Manufacturing properties
1516 Industrial Dr Griffin, GA 30224-3941
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US22-4654945
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1989
Construction
STEEL FRAME
Total area
9,850 SF
Lot
2.36 ac (102,802 SF)
APN
236 -01-034-C
UPID
US22-4654945
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$920k
CAP Approach
CAP
$925k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$860k
Owner & transaction history
Griffin Industrial Properties LLC · 3 yrs held
Griffin Industrial Properties LLC
since 2023
Last sale
$775,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+106.2%
Auto repair, garage
$1.1M
+103.7%
Retail stores
$1.1M
+95.3%
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 Griffin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Griffin 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
$915,000
ML approach
$920,000
CAP Approach
CAP Return
Estimation
6%
$1,000,000
6.5%
$925,000
7%
$855,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$550,000
Current use
MEDICAL BUILDING
$1,130,000
Change: +106% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,115,000
Change: +104% · Conversion: Easy
RETAIL STORES
$1,070,000
Change: +95% · Conversion: Moderate
OFFICE BUILDING
$1,070,000
Change: +95% · Conversion: Difficult
Blend value · Realmo final
$860k
Range $774k – $946k · ±10% · vs last sale $775k (Feb 9 2023)
Last sale anchor
$775k
Feb 9 2023
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
$87 / 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
$4,992
Tax year 2023
Assessed value
$137,292
Assessed 2023
Previous assessed
$137,292
+0.0% YoY
Effective rate
3.64%
On assessed value
Assessed land
$25,344
Assessed improvement
$111,948
Land market value
$63,360
Improvement market value
$279,869
Total market value
$343,229
Applied tax rate
3.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1989
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Total area
9,850 SF
Lot
2.36 ac (102,802 SF)
APN
236 -01-034-C
UPID
US22-4654945
Jurisdiction
SPALDING
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$550,000
MEDICAL BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE 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
1989
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Lot
2.36 ac
Current owner
From public records · entity-resolved
Griffin Industrial Properties LLC
Entity
Mailing address
447 PASLEY AVE SE, ATLANTA, GA 30316-1731
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2023
$775,000
Griffin Industrial Properties LLC
Rdssc Industrial Drive LLC
Warranty Deed
—
Feb 9, 2023
—
Griffin Industrial Properties LLC
Rdssc Industrial Drive LLC
Quit Claim Deed
related
—
Dec 8, 2021
$625,000
Rdssc Industrial Drive LLC
Marksmen Real Estate LLC
Warranty Deed
$575,000 · Marksmen Real Estate
Apr 20, 2017
—
Marksmn Real Estate LLC
—
Deed
related
$260,000 · First National Bank Of Griffin
Feb 3, 2009
—
First National Bank Of Griffin
Hill,haskell H JR
Grant Deed
related
—
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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