New search
Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Community centers
2440 Pilgrim Ml Rd, Cumming, GA 30041-5214
Individually Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US22-0439486
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1977
Total area
2,720 SF
Lot
0.47 ac (20,473 SF)
Zoning code
CBD
APN
220 087
UPID
US22-0439486
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
-
Adam and Eve Barbershop Barber Shop
-
Couture Cuts Pet Salon Pet Grooming Service
-
North Georgia Roof & Restoration Roofing Company General Contractor
-
Studio 16 Beauty Salon Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
$670k
Comparable Approach
Comparable
$517k
Blend (final)
Blend
$520k
Owner & transaction history
Christopher A Mulkey · 5 yrs held
Christopher A Mulkey
since 2021
Last sale
$443,000
7 recorded transactions
Zoning & alternative use
CBD · Cumming, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$720,000
+25.7%
Commercial (general)
$695,000
+21.7%
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 Cumming submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cumming 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
$655,000
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
$730,000
6.5%
$670,000
7%
$625,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$570,000
Current use
MEDICAL BUILDING
$720,000
Change: +26% · Conversion: Difficult
COMMERCIAL (GENERAL)
$695,000
Change: +22% · Conversion: Easy
OFFICE BUILDING
$495,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$520k
Range $468k – $572k · ±10% · vs last sale $443k (Apr 3 2020)
Last sale anchor
$443k
Apr 3 2020
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
$191 / 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
$4,109
Tax year 2024
Assessed value
$167,558
Assessed 2024
Previous assessed
$167,558
+0.0% YoY
Effective rate
2.45%
On assessed value
Assessed land
$18,800
Assessed improvement
$148,758
Land market value
$47,000
Improvement market value
$371,894
Total market value
$418,894
Applied tax rate
1.0000
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1977
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
0
Total area
2,720 SF
Lot
0.47 ac (20,473 SF)
Zoning code
CBD
APN
220 087
UPID
US22-0439486
Jurisdiction
FORSYTH
Zoning & alternative use
CBD · Cumming, GA
Zoning CBD · permitted uses
CBD · Cumming, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cumming. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$570,000
MEDICAL BUILDING
Est. value
$720,000
COMMERCIAL (GENERAL)
Est. value
$695,000
OFFICE BUILDING
Est. value
$495,000
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1977
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
0
Lot
0.47 ac
Current owner
From public records · entity-resolved
Christopher A Mulkey
Individual
Mailing address
3935 TAMIAMI TRL, CUMMING, GA 30041-8948
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2021
$200,000
Christopher A Mulkey
Aaron Price
Grant Deed
$194,000 · Cmg Fin'l
Apr 6, 2020
$443,000
Wasco System LLC
Pantaleon Investments LLC
Warranty Deed
—
Nov 4, 2010
$280,000
Pantaleon Investments LLC
Optimum Financial INC
Warranty Deed
—
Nov 2, 2007
—
Smith-burdette Ents LLP
Wachovia Bank NA
Quit Claim Deed
related
—
Nov 2, 2007
$250,000
Optimum Financial INC
Smith-burdette Ents LLP
Warranty Deed
related
$230,000 · Smith-burdette Ents LLP
Nov 1, 2007
$250,000
Optimum Financial INC
Smith,burdette Enterprises
Grant Deed
related
$230,000 · Smith Burdette Enterprises LLP
Mar 1, 2006
—
Owner Name Unavailable
Owner Name Unavailable
Grant Deed
related
—
—
—
Cumming Home Rentals LLC
—
Deed Of Trust
related
$467,547 · Crescent Bank & Trust Co
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2440 Pilgrim Ml Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
