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

    2932 Athens Hwy Gainesville, GA 30507

    • Commercial real estate
    • 1,831 SF
    • 63.18 lot acres
    For Sale
    View listing
    $3,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1406967
    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

    • Commercial real estate

    Property Details for 2932 Athens Hwy

    Year built
    1975
    Lot size
    63.18 lot acres
    Property size
    1,831 SF
    Property type
    Commercial real estate

    Description

    This exceptional 63.18-acre development opportunity in Gainesville, Georgia boasts unparalleled accessibility and visibility. Situated on high-traffic US Highway 129 (State Hwy 11), the property offers approximately 460 feet of frontage on US Highway 129 and an additional 375 feet on paved Wallace Road. Its proximity to Interstates I-985 and I-85 ensures convenient access for future residents and businesses. The property benefits from an ongoing Georgia Department of Transportation project widening Highway 129 to four lanes, significantly increasing its development potential. Further enhancing its appeal, a forced main sewer line installation is planned for Baker Road, providing essential infrastructure for large-scale projects. This expansive parcel is ideal for mixed-use or residential development, offering builders and developers a rare chance to capitalize on the area's growth. The sale includes two parcels: 2932 Athens Highway and 2920 Athens Highway. Note that a neighboring 42.19-acre property at 2948 Athens Highway is also available for sale separately, presenting the possibility of acquiring over 105 acres in total. Showings are by appointment only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Hall
    State
    Georgia
    Longitude
    -83.76294
    Latitude
    34.23793

    Comparable in this City

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      Gainesville Commercial Land - 19 Acres

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    • $750,000
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      Gainesville Corner Lot - Hwy Business

      High-traffic location, 2.18 acres, development ready.
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    • $750,000
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      Gainesville Commercial Land - 2.18 Acres

      Prime Highway Business Lot, Gainesville, GA
      2317 Old Cornelia Highway Ext, Gainesville, GA 30507
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    • $2,500,000
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      Gainesville Commercial Land Development

      42 Acres, High-Traffic Highway 129
      2948 Athens Hwy, Gainesville, GA 30507
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    • $1,275,000

      Gainesville Commercial Land - $1.275M

      Prime Commercial Corner Lot, High Visibility
      2285 Jesse Jewell Pkwy, Gainesville, GA 30507
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    • $950,000
      21.20 Acres

      Gainesville Commercial Land - Highway 129

      Prime 21-Acre Development Site, High Traffic
      2811 Athens Hwy, Gainesville, GA 30507
      View Details

    Similar Nearby for Sale

    • $1,295,000
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      Gainesville Commercial Land

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      0 Professional Pkwy, Gainesville, GA 30507
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    • $1,950,000
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      Gainesville Commercial Land - 22 Acres

      Prime Athens Hwy commercial lot. High visibility, great potential.
      2511 Athens Hwy, Gainesville, GA 30507
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    • $1,275,000

      Gainesville Commercial Land - $1.275M

      Prime Commercial Corner Lot, High Visibility
      2285 Jesse Jewell Pkwy, Gainesville, GA 30507
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    • $950,000
      21.20 Acres

      Gainesville Commercial Land - Highway 129

      Prime 21-Acre Development Site, High Traffic
      2811 Athens 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
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    • 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
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    • $41,382
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      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
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    • Contact for pricing
      21 SF

      Large Site Near Blue Ridge

      Rare opportunity: large site near Blue Ridge Connector and I-985.
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    • $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
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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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