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Property profile & analytics
OFF-MARKET
Estimated value
$2,600,000
Strip malls
2125 Pace St Covington, GA 30014-6659
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US22-2011553
Property summary
AI-generated overview
This exceptional retail opportunity is located at 2125 Pace St in the heart of Downtown Covington, GA, within the Morgan Plaza Shopping Center. The property offers a total of 58,000 square feet of retail space, with multiple units available ranging from a minimum of 1,252 square feet to a maximum of 8,085 square feet. The flexible space is ideal for a variety of retail businesses seeking a high-visibility location. The property is zoned C1, ensuring a wide range of permitted uses. Its prime downtown location offers excellent visibility and accessibility, placing businesses in close proximity to the Covington square. Ample parking is available for customers and employees, enhancing the overall shopping experience. The property is currently accepting inquiries from prospective tenants interested in leasing space. Interested parties should provide details regarding their business and desired square footage to receive customized pricing information. This is a rare opportunity to establish a thriving retail presence in a vibrant and growing community. Don't miss out on this chance to secure your ideal retail space in the heart of Downtown Covington.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1976
Construction
STEEL & CONCRETE
Total area
54,759 SF
Lot
4.35 ac (189,486 SF)
Zoning code
C1
APN
C0250-00020-014-000
UPID
US22-2011553
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
$2.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.60M
Owner & transaction history
Gp2125 Pace LLC · 2 yrs held
Gp2125 Pace LLC
since 2024
Last sale
$2.6M
1 recorded transaction
Zoning & alternative use
C1 · Covington, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Covington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covington 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
$2,600,000
ML approach
$2,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,545,000
Change: 0% · Conversion: Easy
WAREHOUSE, STORAGE
$2,450,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.60M
Range $2.34M – $2.86M · ±10% · vs last sale $2.60M (Jan 16 2024)
Last sale anchor
$2.60M
Jan 16 2024
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
$47 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$19,495
Tax year 2023
Assessed value
$599,880
Assessed 2023
Previous assessed
$576,440
+4.1% YoY
Effective rate
3.25%
On assessed value
Assessed land
$313,200
Assessed improvement
$286,680
Land market value
$783,000
Improvement market value
$716,700
Total market value
$1,499,700
Applied tax rate
2.0000
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
1976
Construction
STEEL & CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
54
Total area
54,759 SF
Lot
4.35 ac (189,486 SF)
Zoning code
C1
APN
C0250-00020-014-000
UPID
US22-2011553
Jurisdiction
NEWTON
Zoning & alternative use
C1 · Covington, GA
Zoning C1 · permitted uses
C1 · Covington, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Covington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$3.5M
WAREHOUSE, STORAGE
Est. value
$2.5M
RETAIL STORES
WAREHOUSE, STORAGE
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
1976
Construction
STEEL & CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
54
Lot
4.35 ac
Current owner
From public records · entity-resolved
Gp2125 Pace LLC
Entity
Mailing address
2125 PACE ST, COVINGTON, GA 30014-6659
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2024
$2,600,000
Gp2125 Pace LLC
Jh Morgan Investments LLC
Quit Claim Deed
$120,000 · Craft Bank
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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