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    2383 Lake Harbin Rd Morrow, GA 30260
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    Property profile & analytics

    2383 Lake Harbin Rd, Morrow, GA 30260

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    • Retail space
    • 11,200 SF
    • 2.50 lot acres
    For Sale
    $1,677,846
    View Listing →
    Retail Space For Sale For Sale
    $1,677,846
    10,906 SF

    Retail Space For Sale

    Retail space available with a 6.50% CAP rate.

    2383 Lake Harbin Rd, Morrow, GA 30260
    View Listing
    Property ID
    US22-4702166
    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

    • Dollar Tree / Discount Store

    Property Details for 2383 Lake Harbin Rd

    Year built
    1997
    Lot size
    2.50 lot acres
    Zone code
    GB
    Property type
    Retail space
    APN
    12-117A- B-007
    APU
    12117AB007

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 11, 2023 $1,293,355 Gipga 2383 Lake Harbin Road LLC Modiv INC Warranty Deed —
    May 2, 2016 $1,455,000 Ru Dollar Tree Morrow Ga LLC Morrow Sterling LLC Grant Deed · related —
    May 13, 2015 $1,450,000 Morrow Sterling LLC Salisbury Family Props LLC Grant Deed $950k · Wells Fargo Bk
    Aug 1, 2014 — Hud-housing Of Urban Dev Jp Morgan Chase Bk NA Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,480,000
      ML approach
      $1,370,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,706,000
      Market price range: $668k - $1.71M
      AI Estimate
      $987,000
      Market price range: $268k - $1.16M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,250,000
      Current use
      OFFICE BUILDING
      $1,850,000
      Change: +48% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,670,000
      Change: +34% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,580,000
      Change: +27% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Morrow
    County
    Clayton
    State
    Georgia
    Longitude
    -84.3122
    Latitude
    33.5825
    CBSA code
    12060
    CBSA name
    ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN 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
    2024
    $20,183
    $196,640
    $320,720
    $517,360
    -
    $491,600
    $801,800
    $1,293,400

    Comparable in this City

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      1,044 SF

      1158 Ss Ave

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation by Request
      3,373 SF

      2260 Lk Harbin Rd

      RETAIL STORES (PERSONAL SERVICES)
      2260 Lk Harbin Rd, Morrow, GA 30260-1930
      View Details
    • Value Estimation by Request
      3,182 SF

      2297 Lk Harbin Rd

      RETAIL STORES (PERSONAL SERVICES)
      2297 Lk Harbin Rd, Morrow, GA 30260-1935
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    • Value Estimation by Request
      6,840 SF

      6702 Mt Zion Blvd

      RETAIL STORES (PERSONAL SERVICES)
      6702 Mt Zion Blvd, Morrow, GA 30260-3102
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    • Value Estimation by Request
      4,875 SF

      1297 Mt Zion Rd

      RETAIL STORES (PERSONAL SERVICES)
      1297 Mt Zion Rd, Morrow, GA 30260-2339
      View Details
    • Value Estimation
      $1,735,000
      19,720 SF

      1518 Southlake Pkwy

      RETAIL STORES (PERSONAL SERVICES)
      1518 Southlake Pkwy, Morrow, GA 30260-3021
      View Details

    Similar Nearby for Sale

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      Morrow Retail Investment Opportunity

      Retail property with long-term lease in high-traffic location.
      1891 Mount Zion Rd, Morrow, GA 30260
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      Commercial Land on Jonesboro Road

      Commercial land with frontage, excellent topo, and redevelopment potential.
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      Commercial Opportunity in Growing Area

      Fix-and-flip opportunity in high-visibility, growing commercial area.
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      10,906 SF

      Retail Space For Sale

      Retail space available with a 6.50% CAP rate.
      2383 Lake Harbin Rd, Morrow, GA 30260
      View Details
    • Contact for pricing
      1,550 SF

      Commercial Opportunity in Growing Area

      High-visibility commercial space with potential for various business uses.
      6750 Maddox Rd, Morrow, GA 30260
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    • Contact for pricing

      Lake City Land For Sale

      8.5+/- acre land with redevelopment potential in Lake City.
      5480 Jonesboro Rd, Lake City, GA 30260
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    Similar Nearby for Lease

    • $3,800 /Mo
      4,000 SF

      Forest Parkway Commercial Space

      4,000 sq ft commercial space in Morrow, GA for rent.
      1677 Forest Pkwy, Morrow, GA 30260
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    • Contact for pricing

      Renovated Building Near Southlake Mall

      31,062 SF renovated building near Southlake Mall.
      1340 Southlake Pkwy, Morrow, GA 30260
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      Retail Space in Lake City

      Retail leasing opportunity in Lake City, Georgia.
      5656 Jonesboro Rd, Morrow, GA 30260
      View Details
    • Contact for pricing
      139,264 SF

      Southlake Festival Retail Center

      High-traffic retail space, 8 suites available.
      1516 Southlake Pkwy, Morrow, GA 30260
      View Details
    • Contact for pricing

      Retail Center Near Atlanta Airport

      39,920 sq ft retail center with high visibility.
      1388 Southlake Plaza Dr, Morrow, GA 30260
      View Details
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    Morrow, GA 30260
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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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    2383 Lake Harbin Rd, Morrow, GA, 30260
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