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    2461 Old Mars Hill Rd Watkinsville, GA 30677
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    2461 Old Mars Hill Rd Watkinsville, GA 30677

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    • Commercial land
    For Sale
    $4,750,000
    View Listing →
    Prime Retail Development Land For Sale
    $4,750,000

    Prime Retail Development Land

    High-traffic corner lot ideal for retail development.

    2461 Old Mars Hill Rd, Watkinsville, GA 30677
    View Listing
    Property ID
    US22-1166522
    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

    • Commercial land

    Property Details for 2461 Old Mars Hill Rd

    Property type
    Commercial land
    Property subtype
    Retail space

    Description

    The property is the SW corner of the Oconee Connector and Mars Hill Road/Daniells Bridge Road intersection. This lot has high traffic volume and is at a signalized intersection. Ideal for retail development. The property has been rough graded and is ready to develop. Property is situated just south of Highway 316 at the intersection of Oconee Connector and Mars Hill Road. Oconee Connector going south from Highway 316 is a four lane road with limited access. The subject property has access from both Oconee Connector and Mars Hill Road. In addition, the property is near Epps Bridge Centre as well as other retailers such as Wal-Mart, Lowe’s, Home Depot, and Kohls.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Watkinsville
    County
    Oconee
    State
    Georgia
    Longitude
    -83.465904
    Latitude
    33.904865

    Comparable in this City

    • $4,300,000
      7.12 Acres

      Prime Development Land in Watkinsville

      Exceptional development opportunity in Oconee County with B-2 zoning.
      1331 Jennings Mill Rd, Watkinsville, GA 30677
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    • $995,000

      Prime Land for Development

      Development land suitable for office, hotel, or retail.
      2434 Mars Hill Rd, Watkinsville, GA 30677
      View Details
    • Contact for pricing

      Watkinsville Land for Development

      Land suited for office, hotel, or retail development.
      2434 Mars Hill Rd, Watkinsville, GA 30677
      View Details
    • Contact for pricing

      Watkinsville Exchange Retail Outparcels

      Retail outparcels for lease or build to suit.
      7760 Macon Hwy, Watkinsville, GA 30677
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    • $250,000

      Commercial Land in Business Park

      One-acre commercial land parcel in Lampkin Branch Business Park.
      1040 Thomas Ave, Watkinsville, GA 30677
      View Details

    Similar Nearby for Sale

    • $4,300,000
      7.12 Acres

      Prime Development Land in Watkinsville

      Exceptional development opportunity in Oconee County with B-2 zoning.
      1331 Jennings Mill Rd, Watkinsville, GA 30677
      View Details
    • $995,000

      Prime Land for Development

      Development land suitable for office, hotel, or retail.
      2434 Mars Hill Rd, Watkinsville, GA 30677
      View Details
    • Contact for pricing

      Watkinsville Land for Development

      Land suited for office, hotel, or retail development.
      2434 Mars Hill Rd, Watkinsville, GA 30677
      View Details
    • Contact for pricing

      Watkinsville Exchange Retail Outparcels

      Retail outparcels for lease or build to suit.
      7760 Macon Hwy, Watkinsville, GA 30677
      View Details
    • $250,000

      Commercial Land in Business Park

      One-acre commercial land parcel in Lampkin Branch Business Park.
      1040 Thomas Ave, Watkinsville, GA 30677
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
      1,488 SF

      Retail/Office Space in Market Center

      1488 SF retail/office space in Watkinsville's Market Center plaza.
      1430 Capital Ave, Watkinsville, GA 30677
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      1,525 SF

      Watkinsville Retail or Office Space

      Prime leasing opportunity with ample parking and high visibility.
      1021 Jamestown Blvd, Watkinsville, GA 30677
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    • $2,500 /Mo
      128,502 SF

      Watkinsville Commercial Space For Rent

      Recently constructed building suitable for retail, office, or medical businesses.
      1021 Barber Creek Dr, Watkinsville, GA 30677
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    • Contact for pricing

      Watkinsville Office Space Available Now

      1,624 SF office unit for lease in Watkinsville, GA.
      1047 Summit Grove Dr, Watkinsville, GA 30677
      View Details
    • New
      $12 SF/Yr
      2,400 SF

      Watkinsville Commercial Flex Space Available

      New construction flex space with office and warehouse areas.
      1071 Jamestown Blvd, Watkinsville, GA 30677
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    • Contact for pricing

      Office and Storage Space Available

      Office and storage space for lease, available immediately.
      1800 Hog Mountain Rd, Watkinsville, GA 30677
      View Details
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    Watkinsville, GA 30677
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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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