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    2888 Evans Ml Rd Lithonia, GA 30038-2413
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    Property profile & analytics

    2888 Evans Ml Rd, Lithonia, GA 30038-2413

    View on Map
    • Gas stations
    • 3,068 SF
    • 0.51 lot acres
    Off-Market
    Property ID
    US22-1359475
    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

    • U-Haul Neighborhood Dealer / Car Rental Facility

    Property Details for 2888 Evans Ml Rd

    Year built
    1968
    Lot size
    0.51 lot acres
    Zone code
    C1
    Property type
    Gas stations
    APN
    16 138 07 015
    APU
    1613807015

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 7, 2025 — Stonecrest Development Authority Covaco INC Warranty Deed —
    Oct 27, 2017 — Covaco INC — Deed · related $266k · Branch Bk&tr
    — — Covaco INC — Deed Of Trust · related $240k · Branch Banking & Trust Co
    — — Covaco INC — Deed Of Trust · related $240k · Branch Banking & Trust Co
    — — Covaco,inc — Deed Of Trust · related $240k · Main Street Bank
    — — Covaco INC — Deed Of Trust · related $166k · Branch Banking & Trust Co
    — — Covaco INC — Deed Of Trust · related $230k · Branch Banking & Trust Co
    — — Covaco INC — Loan Modification · related $230k · Branch Bk&tr
    — — Covaco INC — Loan Modification · related $240k · Branch Bk&tr
    — — Covaco INC — Deed Of Trust · related $266k · Branch Bk&tr

    Description

    This exceptional business opportunity in Lithonia, Georgia presents a fully operational automotive repair shop ideally situated on a half-acre corner lot at the intersection of Evans Mill Road and Millwood Lane, near Interstate 20. The 3,068 square-foot building boasts three spacious repair bays, perfect for servicing a variety of vehicles. The property's previous life as a gas station provides a strong foundation for continued success, with high visibility and convenient access for customers. Inside, you'll find comfortable amenities including central air conditioning and heating, ensuring a pleasant work environment year-round. Employees and customers alike will appreciate the inclusion of restrooms and a sizable office/break room area. The property's versatility extends beyond its current use

    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
    Lithonia
    County
    Dekalb
    State
    Georgia
    Longitude
    -84.1167
    Latitude
    33.7003
    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
    $5,772
    $61,600
    $52,360
    $113,960
    -
    $154,000
    $130,900
    $284,900

    Comparable in this City

    • Value Estimation by Request
      2,356 SF

      3849 Panola Rd

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      $1,165,000
      13,200 SF

      7939 Mall Pkwy

      VEHICLE SALES, RENTALS
      7939 Mall Pkwy, Lithonia, GA 30038
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    • Value Estimation
      $2,315,000
      15,400 SF

      7849 Mall Pkwy

      VEHICLE SALES, RENTALS
      7849 Mall Pkwy, Lithonia, GA 30038-2539
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    • Value Estimation
      $590,000
      6,813 SF

      5289 Minola Dr

      AUTO REPAIR, GARAGE
      5289 Minola Dr, Lithonia, GA 30038-2310
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    • Value Estimation
      $6,510,000
      36,272 SF

      8455 Mall Pkwy

      VEHICLE SALES, RENTALS
      8455 Mall Pkwy, Lithonia, GA 30038-6914
      View Details
    • Value Estimation
      $10,310,000
      59,763 SF

      7969 Mall Pkwy

      VEHICLE SALES, RENTALS
      7969 Mall Pkwy, Lithonia, GA 30038-2541
      View Details

    Similar Nearby for Sale

    • New
      $2,300,000
      2,356 SF

      Turnkey Automotive Service and Tire Center

      Turnkey automotive service and tire operation on C-1 land with multiple bays, lifts, and support buildings.
      3849 Panola Rd, Lithonia, GA 30038
      View Details
    • $1,199,900

      Stonecrest Commercial Property For Sale

      Commercial property in Stonecrest's retail corridor, near The Mall.
      7322 Stonecrest Concourse, Lithonia, GA 30038
      View Details
    • $1,300,000

      Freestanding Building in Stonecrest, GA

      High-visibility 4,233 SF building suitable for various uses.
      8217 Mall Pkwy, Lithonia, GA 30038
      View Details
    • Contact for pricing
      0.34 Acres

      Residential Lot in Hunter's Hills

      Unimproved 0.34-acre residential lot in established Lithonia subdivision.
      5660 Fox Hound Trl, Lithonia, GA 30038
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    • $35,000
      0.52 Acres

      Residential Lot in Lithonia, GA

      0.52 acre lot, perfect for building a home.
      4750 Cumberland Green Dr, Lithonia, GA 30038
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    • $1,249,000
      15.00 Acres

      Lithonia Land Development Opportunity

      14.7 acres suitable for tiny/micro-home development in Lithonia, Georgia.
      3852 Panola Rd, Lithonia, GA 30038
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Stonecrest, Georgia.
      7331 Stonecrest Concourse, Lithonia, GA 30038
      View Details
    • Contact for pricing
      1,350 SF

      Retail Space in Busy Center

      1,350 SF retail space in high-traffic shopping center.
      3552 Panola Rd, Lithonia, GA 30038
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 1,200 square feet.
      6768 Browns Mill Rd, Lithonia, GA 30038
      View Details
    • Contact for pricing

      Freestanding Retail Building in Lithonia

      Freestanding retail building available for rent in Lithonia, Georgia.
      3001 Stonecrest Promenade, Lithonia, GA 30038
      View Details
    • Contact for pricing

      Retail Space Near Stonecrest Mall

      Retail spaces for lease near Stonecrest Mall, Stonecrest, GA.
      8080 Mall Pkwy, Lithonia, GA 30038
      View Details
    • Contact for pricing
      32,050 SF

      Retail Space Near Mall at Stonecrest

      Retail space in Lithonia, adjacent to the Mall at Stonecrest.
      8100 Mall Pkwy, Lithonia, GA 30038
      View Details
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    Lithonia, GA 30038-2413
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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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