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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2516 Old Cornelia Hwy Gainesville, GA 30507-7855

    • Outlet malls
    • 15,644 SF
    • 1.52 lot acres
    OFF-MARKET
    Value Estimations
    $1,350,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1394034
    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.

    Current Use by Public Records

    • Rabbittown Salvage / Building Supply / Hardware & Home Improvement

    Property Details for 2516 Old Cornelia Hwy

    Year built
    1964
    Construction
    STEEL FRAME
    Lot size
    1.52 lot acres
    Property size
    15,644 SF
    Zone code
    H-B
    Property type
    Outlet malls
    APN
    15-021A-000-036
    APU
    15021A000036

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,468,000
      Market price range: $1.47M - $3.87M

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Hall
    State
    Georgia
    Longitude
    -83.7718
    Latitude
    34.3118
    CBSA code
    23580
    CBSA name
    GAINESVILLE, 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
    $10,502
    $86,080
    $339,600
    $425,680
    -
    $215,200
    $849,000
    $1,064,200

    Comparable in this City

    • Value Estimation by Request
      4,140 SF

      3028 Gillsville Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 4,140 SF
      3028 Gillsville Hwy, Gainesville, GA 30507-8001
      View Details
    • Value Estimation
      $640,000
      13,636 SF

      3154 Atlanta Hwy

      SHOPPING CENTER, STRIP CENTER • 13,636 SF
      3154 Atlanta Hwy, Gainesville, GA 30507-8271
      View Details
    • Value Estimation
      $580,000
      4,200 SF

      3416 Mundy Ml Rd

      SHOPPING CENTER, STRIP CENTER • 4,200 SF
      3416 Mundy Ml Rd, Gainesville, GA 30507-8215
      View Details
    • Value Estimation
      $520,000
      3,998 SF

      3208 Atlanta Hwy

      SHOPPING CENTER, STRIP CENTER • 3,998 SF
      3208 Atlanta Hwy, Gainesville, GA 30507-8273
      View Details
    • Value Estimation
      $1,335,000
      8,050 SF

      1305 Calvary Church Rd

      SHOPPING CENTER, STRIP CENTER • 8,050 SF
      1305 Calvary Church Rd, Gainesville, GA 30507-8325
      View Details
    • Value Estimation
      $1,265,000
      6,080 SF

      2052 Candler Rd

      SHOPPING CENTER, STRIP CENTER • 6,080 SF
      2052 Candler Rd, Gainesville, GA 30507-9121
      View Details

    Similar Nearby for Sale

    • New
      $2,300,000
      5,000 SF

      Profitable Liquor Store with Real Estate

      Profitable liquor store with real estate for sale in Gainesville.
      2318 Old Cornelia Highway Ext, Gainesville, GA 30507
      View Details
    • $399,000
      2.53 Acres

      Gainesville Commercial Land For Sale

      2.53 acre commercial land with endless possibilities in Gainesville, GA.
      3220 Poplar Springs Rd, Gainesville, GA 30507
      View Details
    • New
      $2,300,000
      5,000 SF

      Profitable Liquor Store with Real Estate

      Profitable liquor store with real estate for sale in Gainesville.
      2318 Old Cornelia Highway Ext, Gainesville, GA 30507
      View Details
    • $6,000,000
      16.25 Acres

      Gainesville Commercial Land - 16 Acres

      High-growth area, I-985 access, two homes.
      2191 Old Cornelia Hwy, Gainesville, GA 30507
      View Details
    • $6,000,000
      19.10 Acres

      Gainesville Commercial Land - 19 Acres

      Prime Gainesville land, I-985 access, two homes.
      0 Jesse Jewell Pkwy, Gainesville, GA 30507
      View Details
    • $750,000
      2.18 Acres

      Gainesville Corner Lot - Hwy Business

      High-traffic location, 2.18 acres, development ready.
      2317 Old Cornelia Highway Ext, Gainesville, GA 30507
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      210,600 SF

      Gainesville Warehousing/Distribution Build-to-Suit Opportunity

      Build-to-suit warehousing, distribution, and manufacturing facility in Gainesville, Georgia.
      3104 Athens Hwy, Gainesville, GA 30507
      View Details
    • $41,382
      217,800 SF

      Industrial Land: Candler Road

      5-Acre Gated Industrial Yard, Excellent Access
      1320 Candler Rd, Gainesville, GA 30507
      View Details
    • Contact for pricing
      2,963 SF

      Industrial Space with Office

      2,963 SF industrial space with 1,200 SF office.
      2317 Danbury Ln, Gainesville, GA 30507
      View Details
    • Contact for pricing
      18,000 SF

      Gainesville Warehouse with Outside Storage

      18,000 SF warehouse with 5 acres of fenced storage.
      2177 Athens Hwy, Gainesville, GA 30507
      View Details
    • Contact for pricing
      21 SF

      Large Site Near Blue Ridge

      Rare opportunity: large site near Blue Ridge Connector and I-985.
      1364 Candler Rd, Gainesville, GA 30507
      View Details
    • $18,300 /Mo
      181,645 SF

      Gainesville Industrial Complex on Highway

      Industrial complex on booming Highway 129, near I-985.
      2567 Athens Hwy, Gainesville, GA 30507
      View Details
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    Gainesville, GA 30507-7855
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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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