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Property profile & analytics
FOR SALE
Retail space
2318 Old Cornelia Highway Ext Gainesville, GA 30507
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US22-1715639
For Sale
1 / 12
$1,800,000
2318 Old Cornelia Highway Ext, Gainesville, GA 30507
View Listing →
Property summary
AI-generated overview
This exceptional, fee-simple retail property presents a lucrative investment opportunity. Located at 2318 Old Cornelia Hwy, Gainesville, GA 30507, this Class A, 5,000 square foot convenience store and liquor store boasts a prime location off I-985 exit 24, ensuring high visibility and accessibility. The single-story building, constructed in 2000 and extensively renovated in 2021, features 50 parking spaces on a 0.75-acre lot. Currently operating at 100% occupancy with a five-year lease (NNN), the property offers a stabilized investment with a compelling 18% cap rate and a $700 per square foot price. The sale includes both the real estate and the established business, complete with upgraded equipment and coolers. Zoned G-B (General Business), this property is ideal for an owner-user seeking a high-performing, established business with significant growth potential. The property's strong sales history and excellent location make it a rare find in the Gainesville market. Occupancy date is December 28, 2023.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1990
Total area
4,764 SF
Lot
0.74 ac (32,234 SF)
APN
15-033B-000-037
UPID
US22-1715639
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
Current use
Occupant on record · Public records
-
Rabbittown Package Store (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Saeed shopping Shipping Company Freight Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$577k
Blend (final)
Blend
$500k
Owner & transaction history
King Office Building LLC
King Office Building LLC
since 2026
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$780,000
+9.2%
Neighborhood: shopping center
$740,000
+3.1%
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 Gainesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gainesville 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$715,000
Current use
OFFICE BUILDING
$780,000
Change: +9% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$740,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$500k
Range $450k – $550k · ±10%
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
$105 / 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
$5,299
Tax year 2024
Assessed value
$185,040
Assessed 2024
Previous assessed
$185,040
+0.0% YoY
Effective rate
2.86%
On assessed value
Assessed land
$41,880
Assessed improvement
$143,160
Land market value
$104,700
Improvement market value
$357,900
Total market value
$462,600
Applied tax rate
4.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1990
Heating
NONE
Total area
4,764 SF
Lot
0.74 ac (32,234 SF)
APN
15-033B-000-037
UPID
US22-1715639
Jurisdiction
HALL
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$715,000
OFFICE BUILDING
Est. value
$780,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$740,000
RETAIL STORES Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1990
Heating
NONE
Lot
0.74 ac
Current owner
From public records · entity-resolved
King Office Building LLC
Entity
Mailing address
2460 SUGARLOAF CLB DR, DULUTH, GA 30097-7408
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 22, 2026
$120,000
King Office Building LLC
2318 Old Cornelia LLC
Deed
—
Jan 2, 2025
—
2318 Old Cornelia LLC
King Office Building LLC
Deed
—
Jan 19, 2023
$594,000
King Office Building LLC
Golden Epoch Investments LLC
Warranty Deed
—
Dec 27, 2017
—
King Grp Mgmt LLC
—
Deed
related
$616,000 · Fidelity Bank
Jul 18, 2017
$510,000
King Group Mgmt LLC
Fefifo LLC
Trustees Deed
—
Jul 18, 2017
—
King Group Mgmt LLC
King Group Mgmt LLC
Quit Claim Deed
related
—
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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