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    2498 Spg SE Rd Smyrna, GA 30080-3877
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    Property profile & analytics

    2498 Spg SE Rd, Smyrna, GA 30080-3877

    View on Map
    • Retail space
    • 2,660 SF
    • 0.39 lot acres
    Off-Market
    Last Sale Feb 18, 2021
    $780,000
    Property ID
    US22-0721815
    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
    $815,000
    Show details
    Cap Rate Potential
    4.6%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Fresh Laundry | 2498 Spring Road / (Bike/Boat/Book/etc) Store
    • BelAire Car Wash (Behind Laundromat) / Car Wash

    Property Details for 2498 Spg SE Rd

    Year built
    1965
    Lot size
    0.39 lot acres
    Zone code
    GC
    Property type
    Retail space
    APN
    17081000230
    APU
    17081000230

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 25, 2024 — Rock Capital Investments LLC — Deed · related $400k · Florida Business Development Corporation
    Jan 18, 2024 — Rock Capital Investments LLC — Deed · related $388k · Bank Of America NA
    Feb 18, 2021 $780,000 Rock Capital Investments LLC Hyun Kim Joo Limited Warranty Deed $1.2M · United Community Bank
    Jun 3, 2019 $400,000 Kenneth Seo Hyoungho Lee Warranty Deed —
    Feb 13, 2008 — Hyungho Lee Schmerler,martha Grant Deed · related —
    Jan 18, 2008 — Hyungho Lee Schmerler,martha Quit Claim Deed · related —
    Jan 18, 2008 $382,000 Hyungho Lee Schmerler,martha Grant Deed —
    Jan 17, 2008 $382,000 Hyungho Lee Schmerler,martha Grant Deed —
    Jan 17, 2008 — Hyungho Lee Schmerler,martha Grant Deed · related —
    Jan 17, 2007 — Hyungho Lee Schmerler,martha Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $815,000
      ML approach
      $835,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $625,000
      6.5%
      $575,000
      7%
      $535,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $856,000
      Market price range: $319k - $904k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $615,000
      Current use
      WAREHOUSE, STORAGE
      $1,000,000
      Change: +62% Conversion: Difficult
      MEDICAL BUILDING
      $655,000
      Change: +6% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $530,000
      Change: -14% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $520,000
      Change: -15% Conversion: Moderate
      OFFICE BUILDING
      $505,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Smyrna
    County
    Cobb
    State
    Georgia
    Longitude
    -84.4812
    Latitude
    33.8829
    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
    $5,449
    $131,040
    $69,600
    $200,640
    -
    $327,600
    $174,000
    $501,600

    Comparable in this City

    • Value Estimation
      $1,395,000
      7,356 SF

      5220 Cobb SE Dr

      RETAIL STORES (PERSONAL SERVICES)
      5220 Cobb SE Dr, Smyrna, GA 30080-7180
      View Details
    • Value Estimation by Request

      Spring St

      Individual retail properties
      0 Spring St, Smyrna, GA 30080
      View Details
    • Value Estimation
      $1,045,000
      4,800 SF

      3247 Cobb SE Dr

      RETAIL STORES (PERSONAL SERVICES)
      3247 Cobb SE Dr, Smyrna, GA 30080-4115
      View Details
    • Value Estimation
      $915,000
      8,883 SF

      2175 Old Concord SE Rd

      RETAIL STORES (PERSONAL SERVICES)
      2175 Old Concord SE Rd, Smyrna, GA 30080-1340
      View Details
    • Value Estimation
      $1,285,000
      10,900 SF

      881 Concord SE Rd

      RETAIL STORES (PERSONAL SERVICES)
      881 Concord SE Rd, Smyrna, GA 30080-4270
      View Details
    • Value Estimation
      $750,000
      4,005 SF

      1302 Concord SE Rd

      RETAIL STORES (PERSONAL SERVICES)
      1302 Concord SE Rd, Smyrna, GA 30080-4313
      View Details

    Similar Nearby for Sale

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      4,300 SF

      Smyrna Retail/Office Building For Sale

      4,302 SF retail/office building in prime Smyrna location.
      1154 Concord Rd SE, Smyrna, GA 30080
      View Details
    • New
      $1,350,000
      6,017 SF

      Retail Portfolio with Strip Center

      Two-building retail portfolio with frontage, parking, and current in-place leases for continued operations.
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      View Details
    • $379,900
      1,075 SF

      Smyrna Renovated Commercial Property

      Fully renovated Smyrna property with development potential near Atlanta.
      1651 Donna Lynn Dr, Smyrna, GA 30080
      View Details
    • $1,240,000
      2,753 SF

      Vinings Mixed-Use Investment Opportunity

      Retail/office condo in Ivy Walk village, suitable for various businesses.
      1675 Cumberland Pkwy SE, Smyrna, GA 30080
      View Details
    • $225,500
      Pending

      Smyrna Commercial Property on Atlanta Road

      High-visibility commercial property with redevelopment potential in Smyrna, Georgia.
      1718 Atlanta Rd SE, Smyrna, GA 30080
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,200 SF

      Retail Space on Atlanta Road

      Retail space with high visibility in Smyrna, Georgia.
      3246 Atlanta Rd SE, Smyrna, GA 30080
      View Details
    • New
      $360 /Mo
      12,197 SF

      Prime Location Store/Office in Smyrna

      Store/office space available at a prime Smyrna location.
      2387 S Cobb Dr SE, Smyrna, GA 30080
      View Details
    • Contact for pricing
      1,350 SF

      Retail Center Near The Battery

      27,865 SF retail center in booming Smyrna, Georgia.
      2680 Cobb Pkwy SE, Smyrna, GA 30080
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease in Smyrna, Georgia.
      4691 Atlanta Rd SE, Smyrna, GA 30080
      View Details
    • Contact for pricing

      Freestanding Building on South Cobb

      9,504 SF freestanding building with ample parking and high visibility.
      3821 South Cobb Dr, Smyrna, GA 30080
      View Details
    • $360 /Mo
      12,197 SF

      Smyrna Retail/Office Space Available

      Small retail or office space for rent in Smyrna, GA.
      2387 S Cobb Dr SE, Smyrna, GA 30080
      View Details
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    Smyrna, GA 30080-3877
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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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