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    234 Heard St Elberton, GA 30635

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    234 Heard St Elberton, GA 30635

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    • Retail space
    • 18,460 SF
    • 2.26 lot acres
    For Sale
    $698,000
    View Listing →
    Expansive Retail Space in Elberton For Sale
    $698,000
    18,460 SF

    Expansive Retail Space in Elberton

    18,460 SF retail space in downtown Elberton.

    234 Heard St, Elberton, GA 30635
    View Listing
    Property ID
    US22-3215887
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 234 Heard St

    Year built
    1961
    Lot size
    2.26 lot acres
    Property size
    18,460 SF
    Zone code
    ELBERTON
    Property type
    Retail space
    APN
    E19 137
    APU
    E19137

    Description

    This exceptional 18,460-square-foot retail or storage property is situated on 2.26 acres in the heart of Elberton, Georgia, known as "The Granite Capital of the World." The single-tenant, Class C building, constructed in 1961, features a spacious, open-box layout previously occupied by a successful furniture store. The property offers ample parking, ensuring convenient access for customers and employees. Its prominent location on Heard Street provides excellent visibility and high traffic exposure. The versatile space presents a unique opportunity for a variety of businesses, including grocery stores, warehouse/storage facilities, multi-tenant shopping centers, or even indoor recreational facilities like soccer or pickleball centers. The large storefront and expansive footprint allow for significant customization to meet the specific needs of a new tenant. This prime location and adaptable space offer a compelling investment opportunity for a forward-thinking business seeking a strong presence in a thriving community. The property's 1-story design and single-building structure simplify operations and management. With its significant square footage and ample land, this property is ready for immediate occupancy and offers substantial potential for growth and return.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $515,000
      ML approach
      $555,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $524,000
      Market price range: $498k - $1.48M

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

    Location Insight

    • Map
    • Local Demand
    City
    Elberton
    County
    Elbert
    State
    Georgia
    Longitude
    -82.864
    Latitude
    34.108

    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
    $5,166
    $71,632
    $152,648
    $224,280
    -
    $179,081
    $381,620
    $560,701

    Comparable in this City

    • Value Estimation by Request
      2,700 SF

      22 Mcintosh St

      RETAIL STORES (PERSONAL SERVICES) • 2,700 SF
      22 Mcintosh St, Elberton, GA 30635-2426
      View Details
    • Value Estimation by Request
      440 SF

      17 Public Sq

      RETAIL STORES (PERSONAL SERVICES) • 440 SF
      17 Public Sq, Elberton, GA 30635-2416
      View Details
    • Value Estimation by Request
      528 SF

      305 Elbert St

      RETAIL STORES (PERSONAL SERVICES) • 528 SF
      305 Elbert St, Elberton, GA 30635-2300
      View Details
    • Value Estimation by Request
      12,880 SF

      13 Mcintosh St

      RETAIL STORES (PERSONAL SERVICES) • 12,880 SF
      13 Mcintosh St, Elberton, GA 30635-2465
      View Details
    • Value Estimation by Request
      1,720 SF

      5 Mcintosh St

      RETAIL STORES (PERSONAL SERVICES) • 1,720 SF
      5 Mcintosh St, Elberton, GA 30635-2465
      View Details
    • Value Estimation by Request
      940 SF

      10 Public Sq

      RETAIL STORES (PERSONAL SERVICES) • 940 SF
      10 Public Sq, Elberton, GA 30635-2448
      View Details

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    • Contact for pricing
      18,460 SF

      Expansive Retail Space in Elberton

      18,460 SF retail space in downtown Elberton.
      234 Heard St, Elberton, GA 30635
      View Details
    View Listing
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    Elberton, GA 30635
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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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