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

    1938 Scenic N Hwy Snellville, GA 30078-2155

    • Drug stores
    • 9,782 SF
    • 1.08 lot acres
    OFF-MARKET
    Last Sale
    Apr 21, 2022
    $3,450,000
    Value Estimations
    $3,560,000
    Show details
    Cap Rate Potential
    3%
    Drug stores
    Location Intelligence
    Property ID
    US22-0826902
    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

    • Drug stores

    Property Details for 1938 Scenic N Hwy

    Year built
    1996
    Lot size
    1.08 lot acres
    Property size
    9,782 SF
    Zone code
    BG-GENERAL BUSINESS
    Property type
    Drug stores
    APN
    5-040A-001
    APU
    5040A001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,730,000
      ML approach
      $3,610,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $4,370,000
      RESTAURANT
      $3,790,000
      MEDICAL BUILDING
      $3,135,000
      COMMERCIAL (GENERAL)
      $2,635,000
      NEIGHBORHOOD: SHOPPING CENTER
      $2,575,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Snellville
    County
    Gwinnett
    State
    Georgia
    Longitude
    -84.014
    Latitude
    33.8722
    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
    $17,681
    $90,320
    $460,480
    $550,800
    -
    $225,800
    $1,151,200
    $1,377,000

    Comparable in this City

    • Value Estimation
      $1,635,000
      12,036 SF

      1934 Hwy 78th E

      DRUG STORE, PHARMACY • 12,036 SF
      1934 Hwy 78th E, Snellville, GA 30078
      View Details
    • Value Estimation
      $3,710,000
      14,866 SF

      1930 Scenic N Hwy

      DRUG STORE, PHARMACY • 14,866 SF
      1930 Scenic N Hwy, Snellville, GA 30078-2150
      View Details
    • Value Estimation by Request
      3,108 SF

      2238 Main E St

      FINANCIAL BUILDING • 3,108 SF
      2238 Main E St, Snellville, GA 30078-3498
      View Details
    • Value Estimation by Request
      1,783 SF

      2899 Main W St

      CONVENIENCE STORE • 1,783 SF
      2899 Main W St, Snellville, GA 30078-3154
      View Details
    • Value Estimation by Request
      3,757 SF

      1875 Scenic N Hwy

      FINANCIAL BUILDING • 3,757 SF
      1875 Scenic N Hwy, Snellville, GA 30078-2147
      View Details
    • Value Estimation by Request
      3,364 SF

      2168 Scenic N Hwy

      FINANCIAL BUILDING • 3,364 SF
      2168 Scenic N Hwy, Snellville, GA 30078-6111
      View Details

    Similar Nearby for Sale

    • $489,900
      Pending

      Snellville Office Condo For Sale

      Stand-alone office condo near Highway 78, suitable for various businesses.
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    • $1,795,000

      Snellville Retail Investment Opportunity

      High-Visibility Storefront, 7,857 SF, 3 Units
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    • $1,500,000

      Auto Center on Retail Corridor

      Auto service center on busy retail corridor with established tenant.
      2039 Scenic Hwy, Snellville, GA 30078
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    • $520,000
      2.36 Acres

      Snellville Commercial Land - 2.36 Acres

      Prime Snellville location, development opportunity.
      2949 Rosebud Rd, Snellville, GA 30078
      View Details
    • $450,000
      0.95 Acres

      Snellville Commercial Property - Hwy 124

      High-visibility Snellville office/retail space.
      2149 Scenic Hwy, Snellville, GA 30078
      View Details
    • $695,000
      0.78 Acres

      Snellville Commercial Gem

      Highway 78 Frontage, Two Buildings
      2015 Main St, Snellville, GA 30078
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,550 SF

      Retail Space in Snellville Oaks

      Retail space available in high-traffic Snellville shopping center.
      2133 Main St E, Snellville, GA 30078
      View Details
    • Contact for pricing
      137 SF

      Retail Stalls at Towne Center

      Food and retail stalls for lease in Snellville's new center.
      2285 Wisteria Dr SW, Snellville, GA 30078
      View Details
    • Contact for pricing

      Retail Space in Snellville Center

      Retail space in Snellville with high visibility and traffic.
      2118 Scenic Hwy, Snellville, GA 30078
      View Details
    • Contact for pricing
      1,618 SF

      Retail Space in Snellville, GA

      New retail and restaurant opportunity in Snellville's community hub.
      2385 Wisteria Dr, Snellville, GA 30078
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Snellville Oaks

      Retail space for lease in a busy Snellville location.
      2135 Main St E, Snellville, GA 30078
      View Details
    • Contact for pricing
      14,166 SF

      Retail Space Near Pep Boys

      Retail space next to Pep Boys, near South Gwinnett High.
      2207 Main St E, Snellville, GA 30078
      View Details
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    1938 Scenic N Hwy
    Snellville, GA 30078-2155
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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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