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Property profile & analytics
OFF-MARKET
Estimated value
$1,920,000
Warehouses
2121 Hewatt Rd, Snellville, GA 30039-7009
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US22-4749561
Property summary
AI-generated overview
This exceptional 13,463-square-foot flex industrial space presents a unique investment opportunity. Situated on one acre of land, this single-tenant property boasts a convenient location directly off Route 78 (Stone Mountain Highway), near the intersection of Hewatt Road. The building, constructed in 1985 and renovated in 2021, is classified as Class B and features a single story with an impressive 18-foot ceiling height. The 2,243 square feet of vacant space offers significant potential. The unit includes its own 14-foot high garage door and a separate entrance door, providing excellent accessibility. Internal space allows for ample racking. The property offers 30 total parking spaces and seven drive-in bays, ensuring convenient loading and unloading. The zoning is designated as flex industrial. Nearby businesses include BP Gas, Mobile, U-Haul, Walgreens, and a Home Depot, providing added convenience and potential synergy for various businesses. This property is an ideal choice for businesses seeking a well-located, functional, and adaptable industrial space.
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1985
Total area
12,760 SF
Lot
0.97 ac (42,253 SF)
Zoning code
M1-LIGHT INDUSTRY
APN
R6053 004B
UPID
US22-4749561
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
$2.40M
CAP Approach
CAP
$1.44M
Comparable Approach
Comparable
$1.42M
Blend (final)
Blend
$1.92M
Owner & transaction history
Mi Park Place LLC · 2 yrs held
Mi Park Place LLC
since 2023
Last sale
$2.0M
7 recorded transactions
Zoning & alternative use
M1-LIGHT INDUSTRY · Snellville, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.7M
+143.6%
Commercial (general)
$2.5M
+127.0%
Office building
$2.2M
+100.7%
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 Snellville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Snellville 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
$2,255,000
ML approach
$2,395,000
CAP Approach
CAP Return
Estimation
6%
$1,560,000
6.5%
$1,440,000
7%
$1,340,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,690,000
Change: +144% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,510,000
Change: +127% · Conversion: Difficult
OFFICE BUILDING
$2,220,000
Change: +101% · Conversion: Difficult
Blend value · Realmo final
$1.92M
Range $1.73M – $2.11M · ±10% · vs last sale $2.00M (Sep 13 2023)
Last sale anchor
$2.00M
Sep 13 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
$150 / 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
$28,463
Tax year 2024
Assessed value
$786,720
Assessed 2024
Previous assessed
$240,000
+227.8% YoY
Effective rate
3.62%
On assessed value
Assessed land
$84,520
Assessed improvement
$702,200
Land market value
$211,300
Improvement market value
$1,755,500
Total market value
$1,966,800
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1985
Heating
YES
Cooling
NONE
Stories
1
Total area
12,760 SF
Lot
0.97 ac (42,253 SF)
Zoning code
M1-LIGHT INDUSTRY
APN
R6053 004B
UPID
US22-4749561
Jurisdiction
GWINNETT
Zoning & alternative use
M1-LIGHT INDUSTRY · Snellville, GA
Zoning M1-LIGHT INDUSTRY · permitted uses
M1-LIGHT INDUSTRY · Snellville, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Snellville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1985
Heating
YES
Cooling
Yes
Stories
1
Lot
0.97 ac
Current owner
From public records · entity-resolved
Mi Park Place LLC
Entity
Free & Clear · 2 yrs held
Mailing address
3220 POINTE PKWY, PEACHTREE CORNERS, GA 30092-3322
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2023
—
Mi Park Place LLC
Mi Hewatt Road LLC
Warranty Deed
—
Sep 13, 2023
$2,000,000
Hewatt Road Jgm LLC
Mi Hewatt Road LLC
Warranty Deed
$1,500,000 · Unknown
Nov 10, 2021
—
Mi Hewatt Road LLC
Mi Park Place LLC
Warranty Deed
—
Nov 10, 2021
$866,700
Mi Hewatt Road LLC
2121 Hewatt LLC
Warranty Deed
$685,140 · Southern First Bank
Dec 12, 2006
$449,500
2121 Hewatt LLC
Frankfurt Corp
Grant Deed
$480,000 · Crescent Bank & Trust Co
Nov 21, 2006
$449,500
2121 Hewatt LLC
Frankfurt Corp
Grant Deed
—
May 10, 2004
—
Frankfurt Corp
—
Trustees Deed
related
$80,000 · Southtrust Bank NA
—
—
2121 Hewatt LLC
—
Deed Of Trust
related
$300,000 · James H Bradford
—
—
2121 Hewatt LLC
—
Loan Modification
related
$480,000 · Crescent Bk/riverstone
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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