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    Property profile & analytics

    1520 Jennings Mill Rd Watkinsville, GA 30622

    • Medical offices
    • 9,336 SF
    • 1.47 lot acres
    For Lease
    View listing
    $17 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1081164
    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

    • Athens Dental Group / Dental Office
    • Milos Tucakovic / Physician

    Property Details for 1520 Jennings Mill Rd

    Year built
    2001
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.47 lot acres
    Property size
    9,336 SF
    Zone code
    O-I-P
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    C-01-033-H
    APU
    C01033H

    Description

    This exceptional Class A medical office building, totaling 4,789 square feet, is situated on a 1.74-acre lot at 1520 Jennings Mill Road, Suite B. Built in 2001 and extensively renovated in 2021, the property boasts a desirable location with convenient access to major roadways and amenities. The building features ample parking and prominent street frontage signage. The available suite, approximately 4,789 square feet, is spread across two levels: a main level of 3,451 square feet and a lower level of 1,338 square feet. This move-in ready space includes twelve exam/office rooms, reception and lobby areas, open workspace, and multiple restrooms. Previously used as a medical office, this versatile space is adaptable for various commercial uses. The property is zoned OIP and features a single, two-story building. The building's total square footage is 14,354 square feet, with Suite B comprising 4,789 square feet. This presents a fantastic opportunity for businesses seeking a well-located, adaptable space in Oconee County, offering the infrastructure and location to support growth and success. The Assessor's Parcel Number (APN) is C 01 033H.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $862,000
      Market price range: $469k - $2.00M

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

    Location Insight

    • Map
    • Local Demand
    City
    Watkinsville
    County
    Oconee
    State
    Georgia
    Longitude
    -83.4637
    Latitude
    33.922
    CBSA code
    12020
    CBSA name
    ATHENS-CLARKE COUNTY, 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
    $16,191
    $145,530
    $609,151
    $754,681
    -
    $363,825
    $1,522,877
    $1,886,702

    Comparable in this City

    • Value Estimation
      $3,790,000
      20,714 SF

      1357 Oconee Connector Bldg, Unit 300

      MEDICAL BUILDING • 20,714 SF
      1357 Oconee Connector Bldg, Watkinsville, GA 30677-7314
      View Details
    • Value Estimation
      $2,020,000
      12,000 SF

      1360 Caduceus Way, Unit 300

      MEDICAL BUILDING • 12,000 SF
      1360 Caduceus Way, Watkinsville, GA 30677-7300
      View Details
    • Value Estimation
      $2,015,000
      15,300 SF

      1305 Jennings Ml Rd

      MEDICAL BUILDING • 15,300 SF
      1305 Jennings Ml Rd, Watkinsville, GA 30677-7238
      View Details
    • Value Estimation
      $1,635,000
      9,360 SF

      1747 Langford Dr

      MEDICAL BUILDING • 9,360 SF
      1747 Langford Dr, Watkinsville, GA 30677-7310
      View Details
    • Value Estimation
      $880,000
      4,836 SF

      1747 Langford Dr, Unit 105

      MEDICAL BUILDING • 4,836 SF
      1747 Langford Dr, Watkinsville, GA 30677-7310
      View Details
    • Value Estimation
      $1,705,000
      6,762 SF

      1351 Stonebridge Pkwy

      MEDICAL BUILDING • 6,762 SF
      1351 Stonebridge Pkwy, Watkinsville, GA 30677-6037
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      New Oconee County Professional Building

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      Resource Valley Office Building

      Office unit in Resource Valley, Athens' Premier Office complex.
      1551 Jennings Mill Rd, Watkinsville, GA 30677
      View Details
    • $800,000
      2,150 SF

      Watkinsville Commercial Property

      Prime Office/Retail Space, Vacant
      44 Greensboro Hwy, Watkinsville, GA 30677
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    • $899,000
      3,700 SF

      Watkinsville Office Space - $899,000

      Class A Office, 3700 sq ft, New Construction
      2053 Experiment Station Rd, Watkinsville, GA 30677
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    • $949,000
      1.47 Acres

      2781 Monroe Highway

      Land • 1.47 Acres
      2781 Monroe Hwy, Watkinsville, GA 30677
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      14,480 SF

      Wire Park Office Suites

      Modern Offices, Watkinsville, GA
      1725 Electric Ave, Watkinsville, GA 30677
      View Details
    • Contact for pricing
      1,250 SF

      Medical Office Freestanding Building

      Medical office space with front door parking and highway access.
      1610 Mars Hill Rd, Watkinsville, GA 30677
      View Details
    • $14 SF/Yr
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      Greensboro Hwy Office Space

      Watkinsville Office Building, 21,875 SF
      1291 Greensboro Hwy, Watkinsville, GA 30677
      View Details
    • $25 SF/Yr
      1,572 SF

      Turn-Key Office Space at Wire Park

      Modern 1,572 SF office space in Watkinsville, GA for lease.
      1725 Electric Ave, Watkinsville, GA 30677
      View Details
    • $3,250 /Mo
      3,600 SF

      Watkinsville Commercial Space For Rent

      Office and warehouse space available in Watkinsville, Georgia.
      1320 Greensboro Hwy, Watkinsville, GA 30677
      View Details
    • $14 SF/Yr
      23,400 SF

      Moreland Business Park: Flex Space

      New Creative Office Suites, Oconee County
      1052 Moreland Heights Rd, Watkinsville, GA 30677
      View Details
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    Watkinsville, GA 30622
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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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