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

    29 Jones St Norcross, GA 30071-2505

    • Turn key restaurants
    • 2,770 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Jan 29, 2024
    $1,212,500
    Value Estimations
    $1,215,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1656349
    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

    • Iron Horse Tavern / Nightclub / Bar & Pub
    • ATM / Atm

    Property Details for 29 Jones St

    Year built
    1897
    Construction
    WOOD
    Lot size
    0.06 lot acres
    Property size
    2,770 SF
    Zone code
    AB3
    Property type
    Turn key restaurants
    APN
    6-254A-004
    APU
    6254A004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,215,000
      ML approach
      $1,215,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $832,000
      Market price range: $467k - $2.08M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,440,000
      Current use
      AUTO REPAIR, GARAGE
      $1,240,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Norcross
    County
    Gwinnett
    State
    Georgia
    Longitude
    -84.2127
    Latitude
    33.9424
    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
    $4,895
    $21,760
    $165,840
    $187,600
    -
    $54,400
    $414,600
    $469,000

    Comparable in this City

    • Value Estimation by Request
      4,672 SF

      173 Peachtree St

      RESTAURANT • 4,672 SF
      173 Peachtree St, Norcross, GA 30071-2507
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    • Value Estimation by Request
      4,780 SF

      5905 Jimmy Carter Blvd

      RESTAURANT • 4,780 SF
      5905 Jimmy Carter Blvd, Norcross, GA 30071-2941
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    • Value Estimation by Request
      3,226 SF

      6359 Jimmy Carter Blvd

      RESTAURANT • 3,226 SF
      6359 Jimmy Carter Blvd, Norcross, GA 30071-2316
      View Details
    • Value Estimation by Request
      2,718 SF

      6350 Jimmy Carter Blvd

      RESTAURANT • 2,718 SF
      6350 Jimmy Carter Blvd, Norcross, GA 30071-2314
      View Details
    • Value Estimation by Request
      1,673 SF

      6119 Buford Hwy

      RESTAURANT • 1,673 SF
      6119 Buford Hwy, Norcross, GA 30071-2404
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    • Value Estimation by Request
      6,896 SF

      6319 Jimmy Carter Blvd

      RESTAURANT • 6,896 SF
      6319 Jimmy Carter Blvd, Norcross, GA 30071-2316
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,600 SF

      New Retail Space with High Visibility

      New construction retail space with high traffic and convenient access.
      5725 Jimmy Carter Blvd, Norcross, GA 30071
      View Details
    • $1,300,000
      0.08 Acres

      Historic Downtown Norcross Commercial Gem

      Prime location, fully leased, updated systems, and buildout potential.
      35 S Peachtree St, Norcross, GA 30071
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    • $1,197,000
      30,000 SF

      Norcross Restaurant - $1.2M

      Profitable Indian restaurant, banquet hall.
      5675 Jimmy Carter Blvd, Norcross, GA 30071
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    • Contact for pricing

      Norcross Plaza Retail Strip Center

      Fully leased retail strip center in Norcross, Georgia.
      5942 Buford Hwy, Norcross, GA 30071
      View Details
    • Contact for pricing

      10 Acre Redevelopment Site

      Redevelopment site with high visibility and access.
      5400 Brook Hollow Pkwy, Norcross, GA 30071
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    • $1,290,000
      3,000 SF

      Historic Home with Commercial Potential

      Historic home in Norcross, GA, with mixed-use zoning.
      76 Jones St, Norcross, GA 30071
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      22,654 SF

      Norcross Office Space Available

      Modern Office Suites in Gwinnett County
      5380 Peachtree Industrial Blvd, Norcross, GA 30071
      View Details
    • $19 SF/Yr
      11,578 SF

      Medlock Place: Creative Office Space

      Peachtree Corners Office/Retail: 11,578 SF Available
      5390 Peachtree Industrial Blvd, Norcross, GA 30071
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    • $38 SF/Yr
      6,600 SF

      Norcross Retail Spaces Available

      Brand new, high-traffic retail spaces.
      5725 Jimmy Carter Blvd, Norcross, GA 30071
      View Details
    • $18 SF/Yr
      15,829 SF

      Versatile Office/Retail Space Available

      Multi-purpose space for lease near Peachtree Industrial Blvd and Medlock Bridge Road.
      5390 Peachtree Industrial Blvd, Norcross, GA 30071
      View Details
    • Contact for pricing
      4,100 SF

      Norcross Gateway Retail Opportunity

      Prime Norcross Retail Space Available
      6925 Jimmy Carter Blvd, Norcross, GA 30071
      View Details
    • Contact for pricing
      3,300 SF

      Norcross Retail Building For Rent

      3,320 SF free-standing retail building in Gwinnett 85 CID.
      6037 Financial Dr, Norcross, GA 30071
      View Details
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    29 Jones St
    Norcross, GA 30071-2505
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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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