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Property profile & analytics
OFF-MARKET
Estimated value
$3,845,000
Drug stores
1602 Expy Expressway, Griffin, GA 30223-1269
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US22-0870839
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2007
Construction
STEEL FRAME
Total area
14,725 SF
Lot
1.94 ac (84,506 SF)
Zoning code
PCD
APN
068 -04-001
UPID
US22-0870839
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
$3.70M
CAP Approach
CAP
$3.19M
Comparable Approach
Comparable
$2.55M
Blend (final)
Blend
$3.85M
Owner & transaction history
Wg 2023 LLC · 3 yrs held
Wg 2023 LLC
since 2023
Last sale
$3.9M
3 recorded transactions
Zoning & alternative use
PCD · Griffin, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.6M
+64.3%
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
$4,590,000
ML approach
$3,695,000
CAP Approach
CAP Return
Estimation
6%
$3,450,000
6.5%
$3,185,000
7%
$2,960,000
Alternative Use
Use
Estimation
RESTAURANT
$2,605,000
Change: +64% · Conversion: Easy
Blend value · Realmo final
$3.85M
Range $3.46M – $4.23M · ±10% · vs last sale $3.88M (Feb 23 2023)
Last sale anchor
$3.88M
Feb 23 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
$261 / 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
$59,145
Tax year 2023
Assessed value
$1,480,000
Assessed 2023
Previous assessed
$1,480,000
+0.0% YoY
Effective rate
4.00%
On assessed value
Assessed land
$537,917
Assessed improvement
$942,083
Land market value
$1,344,793
Improvement market value
$2,355,207
Total market value
$3,700,000
Applied tax rate
1.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2007
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Total area
14,725 SF
Lot
1.94 ac (84,506 SF)
Zoning code
PCD
APN
068 -04-001
UPID
US22-0870839
Jurisdiction
SPALDING
Zoning & alternative use
PCD · Griffin, GA
Zoning PCD · permitted uses
PCD · Griffin, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Griffin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.6M
RESTAURANT
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
2007
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Lot
1.94 ac
Current owner
From public records · entity-resolved
Wg 2023 LLC
Entity
Mailing address
200 S BISCAYNE BLVD #17, MIAMI, FL 33131-2310
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2023
$3,880,000
Wg 2023 LLC
Waltrust Properties INC
Warranty Deed
$94,000,000 · Wells Fargo
Mar 17, 2008
$5,149,000
Waltrust Properties INC
Hrse Griffin LLC
Grant Deed
—
Mar 14, 2008
$5,149,000
Waltrust Properties INC
Hrse Griffin LLC
Grant Deed
—
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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