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    Property profile & analytics

    2121 Hewatt Rd Snellville, GA 30039

    • Warehouses
    • 12,760 SF
    • 0.97 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Sep 13, 2023
    $2,000,000
    Value Estimations
    $2,165,000
    Cap Rate Potential
    4.2%
    Warehouses
    Location Intelligence
    Property ID
    US22-4749561
    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

    • Warehouses

    Property Details for 2121 Hewatt Rd

    Year built
    1985
    Lot size
    0.97 lot acres
    Property size
    12,760 SF
    Zone code
    M1-LIGHT INDUSTRY
    Property type
    Warehouses
    APN
    R6053 004B
    APU
    R6053004B

    Description

    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.

    Value 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

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,421,000
      Market price range: $735k - $1.60M

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

    Location Insight

    • Map
    • Local Demand
    City
    Snellville
    County
    Gwinnett
    State
    Georgia
    Longitude
    -84.0619
    Latitude
    33.8437
    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
    2024
    $28,463
    $84,520
    $702,200
    $786,720
    -
    $211,300
    $1,755,500
    $1,966,800

    Comparable in this City

    • Value Estimation
      $470,000
      21,148 SF

      2161 Hewatt Rd

      MINI-WAREHOUSE, STORAGE • 21,148 SF
      2161 Hewatt Rd, Snellville, GA 30039-4026
      View Details
    • Value Estimation
      $450,000
      23,450 SF

      3942 Hwy 78th W

      MINI-WAREHOUSE, STORAGE • 23,450 SF
      3942 Hwy 78th W, Snellville, GA 30039-3954
      View Details
    • Value Estimation
      $6,780,000
      90,000 SF

      3250 Centerville Hwy

      STORAGE YARD, OPEN STORAGE • 90,000 SF
      3250 Centerville Hwy, Snellville, GA 30039-3102
      View Details
    • Value Estimation
      $765,000
      5,040 SF

      3660 Hewatt Ct

      STORAGE YARD, OPEN STORAGE • 5,040 SF
      3660 Hewatt Ct, Snellville, GA 30039-7023
      View Details
    • Value Estimation
      $395,000
      10,142 SF

      3710 Hewatt Ct

      STORAGE YARD, OPEN STORAGE • 10,142 SF
      3710 Hewatt Ct, Snellville, GA 30039-7020
      View Details
    • Value Estimation
      $415,000
      10,000 SF

      2236 Hewatt Rd

      STORAGE YARD, OPEN STORAGE • 10,000 SF
      2236 Hewatt Rd, Snellville, GA 30039-4021
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land Available For Sale

      Parcels available for sale, ground lease, or build-to-suit.
      3631 Centerville Hwy, Snellville, GA 30039
      View Details
    • Contact for pricing

      Commercial Parcels For Sale

      Parcels available for sale, GL or BTS.
      3621 Centerville Hwy, Snellville, GA 30039
      View Details
    • $1,350,000

      Prime Commercial Land Near Walmart

      C2 zoned land with high visibility and accessibility.
      4002 Zoar Church Rd, Snellville, GA 30039
      View Details
    • $180,000
      5.23 Acres

      Snellville Estate Lot Opportunity

      5.2-acre estate lot, build your dream home!
      2 Shiloh Ridge Trl, Snellville, GA 30039
      View Details
    • $150,000
      0.89 Acres

      Residential Lot in Snellville, GA

      Residential lot with existing foundation in a private setting.
      3915 Laurel Brook Way, Snellville, GA 30039
      View Details
    • $91,500
      0.69 Acres

      Residential Land in Snellville, GA

      0.69 acre lot in a sought after Snellville neighborhood.
      3134 Manorside Way, Snellville, GA 30039
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr

      Snellville Flex/Industrial Building For Lease

      Versatile flex/industrial building with office, storage, and drive-in doors.
      3630 Hewatt Ct Southwest, Snellville, GA 30039
      View Details
    • $14 SF/Yr
      10,584 SF

      Lenora Church Rd Office/Warehouse

      Gwinnett County Office & Warehouse Space Available
      3151 Lenora Church Rd, Snellville, GA 30039
      View Details
    • $12 SF/Yr
      13,463 SF

      Prime Flex Space Near Route 78

      13,463 SF Flex Space, 2,243 SF Vacant
      2121 Hewatt Rd, Snellville, GA 30039
      View Details
    • $6,666 /Mo
      2,000 SF

      Retail Space in Snellville, GA

      Retail space available on Centerville Rosebud Road.
      3524 Centerville Rosebud Rd, Snellville, GA 30039
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space For Lease

      2,500 SF retail space available for lease.
      3641 Centerville Hwy, Snellville, GA 30039
      View Details
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    Snellville, GA 30039
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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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