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Property profile & analytics
OFF-MARKET
Estimated value
$1,665,000
Strip malls
199 John W Morrow Jr Pkwy Gainesville, GA 30501-3550
Entity Owned
4-yr Hold
Free & Clear
Property ID
US22-1637278
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1988
Construction
STEEL FRAME
Total area
13,600 SF
Lot
0.99 ac (43,124 SF)
Zoning code
N-B
APN
01-045 -002-006
UPID
US22-1637278
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
Current use
Occupant on record · Public records
-
All Vacuum Wholesale Home Appliance Store (Bike/Boat/Book/etc) Store
-
Unison Micro Computer & Electronic Repair
-
Loya Insurance Company Insurance Agency
-
Dioselina's Bakery Bakery Specialty Food Shop
-
Happy Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.41M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.01M
Blend (final)
Blend
$1.67M
Owner & transaction history
Cm Mike & Judy Harrison Family LP · 4 yrs held
Cm Mike & Judy Harrison Family LP
since 2022
Last sale
$1.8M
3 recorded transactions
Zoning & alternative use
N-B · Gainesville, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.6M
+22.9%
Commercial (general)
$2.2M
+5.3%
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 Gainesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gainesville 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
$1,300,000
ML approach
$1,410,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,105,000
Current use
AUTO REPAIR, GARAGE
$2,590,000
Change: +23% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,220,000
Change: +5% · Conversion: Easy
OFFICE BUILDING
$1,940,000
Change: -8% · Conversion: Moderate
RETAIL STORES
$1,920,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$1.67M
Range $1.50M – $1.83M · ±10% · vs last sale $1.80M (Apr 12 2022)
Last sale anchor
$1.80M
Apr 12 2022
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
$122 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$21,304
Tax year 2024
Assessed value
$704,960
Assessed 2024
Previous assessed
$704,960
+0.0% YoY
Effective rate
3.02%
On assessed value
Assessed land
$310,320
Assessed improvement
$394,640
Land market value
$775,800
Improvement market value
$986,600
Total market value
$1,762,400
Applied tax rate
18.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1988
Construction
STEEL FRAME
Heating
YES
Cooling
CENTRAL
Rooms
90
Bathrooms
1
Total area
13,600 SF
Lot
0.99 ac (43,124 SF)
Zoning code
N-B
APN
01-045 -002-006
UPID
US22-1637278
Jurisdiction
HALL
Zoning & alternative use
N-B · Gainesville, GA
Zoning N-B · permitted uses
N-B · Gainesville, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gainesville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.2M
OFFICE BUILDING
Est. value
$1.9M
RETAIL STORES
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
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
1988
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Rooms
90
Bathrooms
1
Lot
0.99 ac
Current owner
From public records · entity-resolved
Cm Mike & Judy Harrison Family LP
Entity
Free & Clear · 4 yrs held
Mailing address
PO BOX 286, GAINESVILLE, GA 30503-0286
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
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
Apr 12, 2022
—
Cm Mike & Judy Harrison Family LP
Walters Income Properties LP
Warranty Deed
—
Apr 7, 2022
—
Walters Income Properties LP
J Walters Holdings LLC
Warranty Deed
—
—
—
Walters Income Properties LP
—
Deed Of Trust
related
$1,010,860 · Heritage Bank Of The South
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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