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

    2609 Old Covington SW Hwy Conyers, GA 30012-6462

    • Outlet malls
    • 3,050 SF
    • 2.12 lot acres
    OFF-MARKET
    Last Sale
    Feb 15, 2024
    Value Estimations
    $585,000
    Show details
    Cap Rate Potential
    8.8%
    Outlet malls
    Location Intelligence
    Property ID
    US22-1741369
    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

    • SecurCare Self Storage / Moving Company

    Property Details for 2609 Old Covington SW Hwy

    Year built
    1996
    Construction
    WOOD
    Lot size
    2.12 lot acres
    Property size
    3,050 SF
    Zone code
    M1/C
    Property type
    Outlet malls
    APN
    020-0-01-023F
    APU
    020001023F

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $485,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $715,000
      6.5%
      $660,000
      7%
      $615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $718,000
      Market price range: $291k - $719k
      AI Estimate
      $473,000
      Market price range: $129k - $474k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $485,000
      Current use
      MEDICAL BUILDING
      $560,000
      Change: +15% Conversion: Difficult
      OFFICE BUILDING
      $440,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Conyers
    County
    Rockdale
    State
    Georgia
    Longitude
    -84.0725
    Latitude
    33.698
    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
    2023
    $49,803
    $21,680
    $1,187,320
    $1,209,000
    -
    $54,200
    $2,968,300
    $3,022,500

    Comparable in this City

    • Value Estimation
      $1,275,000
      13,320 SF

      505 Smyrna SW Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 13,320 SF
      505 Smyrna SW Rd, Conyers, GA 30012-5169
      View Details
    • Value Estimation
      $1,425,000
      14,640 SF

      1591 Lester NW Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 14,640 SF
      1591 Lester NW Rd, Conyers, GA 30012-3979
      View Details
    • Value Estimation
      $520,000
      8,504 SF

      3560 Hwy 20th NE

      WHOLESALE OUTLET, DISCOUNT STORE • 8,504 SF
      3560 Hwy 20th NE, Conyers, GA 30012-1755
      View Details
    • Value Estimation by Request
      1,012 SF

      1020 Main NE St

      WHOLESALE OUTLET, DISCOUNT STORE • 1,012 SF
      1020 Main NE St, Conyers, GA 30012-4802
      View Details
    • Value Estimation
      $595,000
      4,838 SF

      1640 Autumn NE Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 4,838 SF
      1640 Autumn NE Blvd, Conyers, GA 30012-3775
      View Details
    • Value Estimation by Request
      6,250 SF

      1174 Ww SW Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 6,250 SF
      1174 Ww SW Ave, Conyers, GA 30012-5200
      View Details

    Similar Nearby for Sale

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      Prime Conyers location, high traffic, multiple uses.
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      10,000 SF commercial building on 2.43 acres with high visibility.
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      Conyers Commercial Land - $329K

      3.55-acre lot, high visibility, I-20 access.
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      Prime Conyers Commercial Land

      12.49 Acres, Zoned BG, $1.5M
      1050 Sigman Rd, Conyers, GA 30012
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Highway Corner

      Retail space available in Conyers, excellent visibility and access.
      1895 Ga Hwy, Conyers, GA 30012
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Conyers, GA

      Retail space available in a shopping center anchored by Publix.
      1573 Highway 20 NE, Conyers, GA 30012
      View Details
    • $4,999 /Mo

      Commercial Land Near Old Town

      Versatile commercial property suitable for automotive or light industrial use.
      2209 Old Covington Hwy Sw, Conyers, GA 30012
      View Details
    • $600 /Mo

      Premium Salon Suite for Lease

      Luxury salon suites for barbers, hairdressers, and other beauty professionals.
      1359 Milstead Rd Ne, Conyers, GA 30012
      View Details
    • $6 SF/Yr
      16,080 SF

      Conyers Retail Space For Lease

      High-traffic retail space, 4,020 sq ft available.
      1531 Dogwood Dr, Conyers, GA 30012
      View Details
    • $4,000 /Mo
      170,320 SF

      Conyers Commercial Auto Shop Space

      Auto shop with bays near truck parking lot for rent.
      1528 Rockbridge Rd NW, Conyers, GA 30012
      View Details
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    Conyers, GA 30012-6462
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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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