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    Property profile & analytics

    2115 Smith Ave Thomasville, GA 31792-5738

    • Turn key restaurants
    • 3,456 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    Feb 05, 2025
    $515,000
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1150895
    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

    • Rock Bottom Seafood & Grill / Seafood Restaurant

    Property Details for 2115 Smith Ave

    Year built
    1983
    Construction
    STEEL FRAME
    Lot size
    0.43 lot acres
    Property size
    3,456 SF
    Zone code
    C-1
    Property type
    Turn key restaurants
    APN
    046HTH 123
    APU
    046HTH123

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $580,000
      ML approach
      $580,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Thomasville
    County
    Thomas
    State
    Georgia
    Longitude
    -83.9469
    Latitude
    30.8356
    CBSA code
    45620
    CBSA name
    THOMASVILLE, GA MICROPOLITAN 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
    $1,852
    $35,942
    $38,909
    $74,851
    -
    $89,856
    $97,272
    $187,128

    Comparable in this City

    • Value Estimation
      $315,000
      1,036 SF

      325 Nn Blvd

      RESTAURANT • 1,036 SF
      325 Nn Blvd, Thomasville, GA 31792-4416
      View Details
    • Value Estimation
      $570,000
      14,341 SF

      217 Broad St

      RESTAURANT • 14,341 SF
      217 Broad St, Thomasville, GA 31792-5544
      View Details
    • Value Estimation
      $835,000
      5,880 SF

      112 Broad St

      RESTAURANT • 5,880 SF
      112 Broad St, Thomasville, GA 31792-5113
      View Details
    • Value Estimation
      $325,000
      2,880 SF

      423 Smith Ave

      RESTAURANT • 2,880 SF
      423 Smith Ave, Thomasville, GA 31792
      View Details
    • Value Estimation
      $345,000
      3,217 SF

      217 Remington Ave

      RESTAURANT • 3,217 SF
      217 Remington Ave, Thomasville, GA 31792-5522
      View Details
    • Value Estimation
      $380,000
      9,430 SF

      502 Smith Ave

      RESTAURANT • 9,430 SF
      502 Smith Ave, Thomasville, GA 31792-5653
      View Details

    Similar Nearby for Sale

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      Downtown Thomasville Commercial Building For Sale

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    • $2,300,000
      4,750 SF

      Turnkey Distillery & Brewery Opportunity

      Fully operational distillery, brewery, and restaurant in Thomasville, Georgia.
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    • $1,350,000
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      Downtown Thomasville Three-Story Building

      Three-story building in downtown Thomasville, ideal for investors and businesses.
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    • $275,000
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      Thomasville Commercial Property For Sale

      Commercial property in Thomasville, GA, with great potential for investors.
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    • $1,900,000
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      Thomasville Commercial Strip Center For Sale

      18,660 SF strip center with mini-storage in Thomasville, GA.
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    • $35,000
      0.25 Acres

      Income-Producing Water System For Sale

      Established water system in Thomasville, GA, generating monthly revenue.
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    Similar Nearby for Lease

    • $12 SF/Yr
      4,000 SF

      Retail Space in Gateway Center

      Retail space available in anchored shopping center with ample parking.
      15023-15125 Us Highway 19, Thomasville, GA 31792
      View Details
    • $12 SF/Yr
      9,000 SF

      Pinetree Plaza Retail Space

      Thomasville, GA Strip Plaza - Two Bays Available
      2850 Pinetree Blvd, Thomasville, GA 31792
      View Details
    • $4,800 /Mo
      77,537 SF

      Downtown Thomasville Office Building

      Two-story office building in Downtown Thomasville with flexible space.
      106 Oak St, Thomasville, GA 31792
      View Details
    • $15 SF/Yr
      3,109 SF

      Prime Thomasville Office Building

      3,109 SF Medical/Executive Office Space
      916 Broad St, Thomasville, GA 31792
      View Details
    • $12 SF/Yr
      1,800 SF

      Thomasville GA Flex Space For Sale

      1800 sq ft Industrial Space, Thomasville, GA
      110 Business Cir, Thomasville, GA 31792
      View Details
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    2115 Smith Ave
    Thomasville, GA 31792-5738
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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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