2224 Lafayette Rd, Fort Oglethorpe, GA 30742-3753
- Auto shops
- 4,320 SF
- 0.70 lot acres
Current Use by Public Records
- Auto shops
Property Details for 2224 Lafayette Rd
- Year built
- 1968
- Construction
- STEEL FRAME
- Lot size
- 0.70 lot acres
- Zone code
- FOR
- Property type
- Auto shops
- APN
- 0002F097
- APU
- 0002F097
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 9, 2025 | $547,500 | Scott Allan Johnson | Jdm Lafayette LLC | Warranty Deed | $438k · Pinnacle Bank |
| Jan 12, 2024 | $350,000 | Jdm Lafayette LLC | Tlg Properties LLC | Warranty Deed | $320k · Tlg Properties |
| Oct 5, 2006 | $550,000 | Tlg Properties LLC | Liner,george L III & Susan T | Warranty Deed | $440k · Rossville Bank |
Description
This exceptional investment opportunity presents a fee-simple, single-tenant auto shop in Fort Oglethorpe, Georgia. Located at 2224 Lafayette Rd, this 4,896 square foot building sits on a 0.7-acre lot and is currently leased under an absolute NNN lease, meaning no landlord responsibilities. The lease commenced November 30, 2023, and has a remaining term of four years, expiring November 30, 2028, with attractive 3% annual rent increases. The asking price is $556,000, translating to a price per square foot of $113.56 and a 7.77% cap rate based on a current Net Operating Income (NOI) of $43,200. Built in 1990, the property benefits from a strong location near major retailers including Walmart, Publix, Home Depot, and others, serving a population exceeding 99,000 within a five-mile radius. The tenant, operating for over seven years at this location, provides comprehensive automotive services. The property's occupancy date is December 1, 2023, with an occupancy rate of 8%. This presents a compelling investment opportunity due to its low price point, strong tenant history, and built-in rent growth. The property is conveniently located approximately six miles from Chattanooga, Tennessee.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $545,000
- ML approach
- $540,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $531,000
Market price range: $208k - $674k -
Alternative Use
- Use
- Estimation
- AUTO REPAIR, GARAGE
- $435,000 Current use
- COMMERCIAL (GENERAL)
- $540,000 Change: +24% Conversion: Moderate
- MEDICAL BUILDING
- $350,000 Change: -20% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Fort Oglethorpe
- County
- Catoosa
- State
- Georgia
- Longitude
- -85.259
- Latitude
- 34.957
- CBSA code
- 16860
- CBSA name
- CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA
