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Property profile & analytics
OFF-MARKET
Estimated value
$1,215,000
Turn key restaurants
29 Jones St Norcross, GA 30071-2505
Entity Owned
2-yr Hold
Property ID
US22-1656349
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1897
Construction
WOOD
Total area
2,770 SF
Lot
0.06 ac (2,614 SF)
Zoning code
AB3
APN
6-254A-004
UPID
US22-1656349
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Iron Horse Tavern Nightclub Bar & Pub
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.22M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$832k
Blend (final)
Blend
$1.22M
Owner & transaction history
Downtown Development Authority Of T · 2 yrs held
Downtown Development Authority Of T
since 2024
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
AB3 · Norcross, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Norcross submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norcross submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,215,000
ML approach
$1,215,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,440,000
Current use
AUTO REPAIR, GARAGE
$1,240,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.22M
Range $1.09M – $1.34M · ±10% · vs last sale $1.21M (Jan 29 2024)
Last sale anchor
$1.21M
Jan 29 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$439 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,895
Tax year 2023
Assessed value
$187,600
Assessed 2023
Previous assessed
$187,600
+0.0% YoY
Effective rate
2.61%
On assessed value
Assessed land
$21,760
Assessed improvement
$165,840
Land market value
$54,400
Improvement market value
$414,600
Total market value
$469,000
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1897
Construction
WOOD
Heating
FORCED AIR
Cooling
NONE
Stories
1
Total area
2,770 SF
Lot
0.06 ac (2,614 SF)
Zoning code
AB3
APN
6-254A-004
UPID
US22-1656349
Jurisdiction
GWINNETT
Zoning & alternative use
AB3 · Norcross, GA
Zoning AB3 · permitted uses
AB3 · Norcross, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norcross. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
RESTAURANT Current
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1897
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Downtown Development Authority Of T
Entity
Mailing address
29 JONES ST, NORCROSS, GA 30071-2505
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 29, 2024
$1,212,500
Downtown Development Authority Of T
765 Moreland Avenue LLC
Quit Claim Deed
$1,250,000 · Norcross City
Jan 20, 2017
$1,200,000
765 Moreland Avenue LLC
29 Jones Street LLC
Grant Deed
—
Jan 20, 2017
—
765 Moreland Avenue LLC
29 Jones Street LLC
Quit Claim Deed
related
—
Jan 22, 2013
$176,600
29 Jones Street LLC
Shirley Investments LP
Grant Deed
—
Feb 8, 2007
$413,200
Shirley Investments LP
Norcross Partners LLP
Grant Deed
—
Jan 31, 2007
$413,124
Shirley Investments LP
Norcross,partners LLP
Grant Deed
—
—
—
795 Moreland Avenue LLC
—
Deed Of Trust
related
$950,000 · Shirley Investments LP
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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