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Property profile & analytics
OFF-MARKET
Estimated value
$2,375,000
Manufacturing properties
1828 Cobb Industrial SE Blvd Smyrna, GA 30082-4908
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US22-1265285
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1984
Total area
19,751 SF
Lot
2.02 ac (87,991 SF)
Zoning code
HI
APN
17061900190
UPID
US22-1265285
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
$2.38M
CAP Approach
CAP
$1.85M
Comparable Approach
Comparable
$1.92M
Blend (final)
Blend
$2.38M
Owner & transaction history
Lisenby Real Estate Investments LLC · 2 yrs held
Lisenby Real Estate Investments LLC
since 2024
Last sale
$2.4M
5 recorded transactions
Zoning & alternative use
HI · Smyrna, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent in establishing the HI district is to provide areas within the city for the manufacture, storage, sale and distribution of goods and the conduct of related commercial and industrial activities. The HI district is comprised primarily of those existing industrial use areas that are located on or have ready access to major thoroughfares and rail faci…
Zone name
Heavy Industrial
General category
INDUSTRIAL
Zone area
62.30 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$3.9M
+93.4%
Neighborhood: shopping center
$3.9M
+90.4%
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 Smyrna submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Smyrna 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
$2,375,000
ML approach
$2,375,000
CAP Approach
CAP Return
Estimation
6%
$2,005,000
6.5%
$1,850,000
7%
$1,720,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,030,000
Current use
AUTO REPAIR, GARAGE
$3,930,000
Change: +93% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,870,000
Change: +90% · Conversion: Difficult
Blend value · Realmo final
$2.38M
Range $2.14M – $2.61M · ±10% · vs last sale $2.38M (May 2 2024)
Last sale anchor
$2.38M
May 2 2024
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
$120 / 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
$15,188
Tax year 2023
Assessed value
$1,031,520
Assessed 2024
Previous assessed
$581,040
+77.5% YoY
Effective rate
1.47%
On assessed value
Assessed land
$151,920
Assessed improvement
$879,600
Land market value
$379,800
Improvement market value
$879,600
Total market value
$1,259,400
Applied tax rate
9.0000
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
1984
Heating
NONE
Total area
19,751 SF
Lot
2.02 ac (87,991 SF)
Zoning code
HI
APN
17061900190
UPID
US22-1265285
Jurisdiction
COBB
Zoning & alternative use
HI · Smyrna, GAZoning HI · permitted uses
HI · Smyrna, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent in establishing the HI district is to provide areas within the city for the manufacture, storage, sale and distribution of goods and the conduct of related commercial and industrial activities. The HI district is comprised primarily of those existing industrial use areas that are located on or have ready access to major thoroughfares and rail facilities and are well adapted to industrial development.
Zone name
Heavy Industrial
General category
INDUSTRIAL
Zone area
62.30 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$3.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.9M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1984
Heating
NONE
Lot
2.02 ac
Current owner
From public records · entity-resolved
Lisenby Real Estate Investments LLC
Entity
Free & Clear · 2 yrs held
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
May 2, 2024
$2,375,000
Lisenby Real Estate Investments LLC
Brian N Shonson
Executors Deed
—
Oct 24, 2023
—
Brian N Shonson
Mitzi Sue Tillem
Quit Claim Deed
related
—
Jun 12, 2009
$102,000
Amc Ventures INC
Tillem,franceen S
Warranty Deed
—
Jun 12, 2009
—
Samuel V Shonson
Shonson,beverly L
Quit Claim Deed
—
May 8, 2009
—
Owner Name Unavailable
Owner Name Unavailable
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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