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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    231 Main St, Unit 15 Statesboro, GA 30458-0700

    • Garden apartment buildings
    • 7,688 SF
    • 0.61 lot acres
    OFF-MARKET
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2184453
    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

    • Mighty Man Fresh Produce / Produce Market

    Property Details for 231 Main St

    Year built
    1950
    Lot size
    0.61 lot acres
    Property size
    7,688 SF
    Zone code
    HOC
    Property type
    Garden apartment buildings
    APN
    S19-018-000
    APU
    S19018000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $390,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $640,000
      Market price range: $229k - $868k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $470,000
      Current use
      RETAIL STORES
      $590,000
      Change: +27% Conversion: Difficult
      MEDICAL BUILDING
      $565,000
      Change: +21% Conversion: Moderate
      WAREHOUSE, STORAGE
      $410,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Statesboro
    County
    Bulloch
    State
    Georgia
    Longitude
    -81.7845
    Latitude
    32.4429
    CBSA code
    44340
    CBSA name
    STATESBORO, 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
    $8,979
    $80,800
    $294,980
    $375,780
    -
    $202,000
    $737,449
    $939,449

    Comparable in this City

    • Value Estimation
      $345,000
      2,857 SF

      403 Knight Dr

      GARDEN APT, COURT APT (5+ UNITS) • 2,857 SF
      403 Knight Dr, Statesboro, GA 30458
      View Details
    • Value Estimation
      $340,000
      3,240 SF

      119 Kent St, Unit 6

      GARDEN APT, COURT APT (5+ UNITS) • 3,240 SF
      119 Kent St, Statesboro, GA 30458-7609
      View Details
    • Value Estimation
      $870,000
      1,668 SF

      100 Bermuda Run

      GARDEN APT, COURT APT (5+ UNITS) • 1,668 SF
      100 Bermuda Run, Statesboro, GA 30458-6064
      View Details
    • Value Estimation
      $360,000
      8,000 SF

      222 Lanier Dr

      GARDEN APT, COURT APT (5+ UNITS) • 8,000 SF
      222 Lanier Dr, Statesboro, GA 30458-3710
      View Details
    • Value Estimation
      $8,755,000
      6,912 SF

      210 Lanier Dr

      GARDEN APT, COURT APT (5+ UNITS) • 6,912 SF
      210 Lanier Dr, Statesboro, GA 30458-3750
      View Details
    • Value Estimation
      $600,000
      20,160 SF

      435 Main St

      GARDEN APT, COURT APT (5+ UNITS) • 20,160 SF
      435 Main St, Statesboro, GA 30458-5554
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8.81 Acres

      Statesboro Commercial Land - 8.81 Acres

      High-traffic, mixed-use development opportunity.
      0 Briarwood Ln, Statesboro, GA 30458
      View Details
    • $399,000
      3,500 SF

      Statesboro Multifamily Investment Opportunity

      Six-unit multifamily property in Statesboro, GA, near amenities.
      217 S College St, Statesboro, GA 30458
      View Details
    • $3,150,000
      17,288 SF

      New Townhomes in Statesboro, GA

      New 16-unit townhome complex near Georgia Southern University.
      93 Briarwood Rd, Statesboro, GA 30458
      View Details
    • $1,500,000
      2.62 Acres

      Statesboro Commercial Land For Sale

      Two lots totaling 2.62 acres with frontage on Hwy 80.
      202 Lee St, Statesboro, GA 30458
      View Details
    • $850,000
      1.06 Acres

      Prime Statesboro Market District Lot

      1.06 Acres, High Traffic, Retail Ready
      Brampton Ave, Statesboro, GA 30458
      View Details
    • $1,710,500
      10.62 Acres

      Statesboro Commercial Land Investment

      10.62 Acres, High-Traffic Location
      6110 Burkhalter Rd, Statesboro, GA 30458
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      54,146 SF

      Statesboro Mall Retail Spaces Available

      Prime Retail Space, Multiple Sizes Available
      325 Northside Dr, Statesboro, GA 30458
      View Details
    • Contact for pricing
      78,408 SF

      Highway 80 Statesboro Commercial Land

      0.9-acre commercial lot, high traffic, ideal retail.
      31408 Us Highway 80, Portal, GA 30458
      View Details
    • $4,250 /Mo
      2,800 SF

      Statesboro Office Space For Rent

      Recently renovated office space on South Main Street.
      313 S Main St, Statesboro, GA 30458
      View Details
    • Contact for pricing
      37,464 SF

      University Station Retail Space

      Statesboro, GA: Prime Retail Opportunity
      221-309 Tormenta Way, Statesboro, GA 30458
      View Details
    • $1.37 SF/Yr
      8,060 SF

      Retail Space in Eagle Point

      Retail space available in Eagle Point shopping center.
      1848 Northside Dr E, Statesboro, GA 30458
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space Available For Rent

      Retail space available for rent in Statesboro, GA.
      255 Henry Blvd, Statesboro, GA 30458
      View Details
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    231 Main St, Unit 15
    Statesboro, GA 30458-0700
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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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