Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2976 Expy Expressway Griffin, GA 30223-6495

    • Office buildings
    • 594 SF
    • 4.08 lot acres
    OFF-MARKET
    Last Sale
    Mar 13, 2024
    $1,325,000
    Value Estimations
    $1,325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2762356
    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

    • Office buildings

    Property Details for 2976 Expy Expressway

    Year built
    2008
    Construction
    CONCRETE
    Lot size
    4.08 lot acres
    Property size
    594 SF
    Zone code
    C-1B
    Property type
    Office buildings
    APN
    242B-01-005-B
    APU
    242B01005B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,325,000
      ML approach
      $1,325,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Griffin
    County
    Spalding
    State
    Georgia
    Longitude
    -84.2887
    Latitude
    33.3181
    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
    $45,816
    $156,737
    $1,103,263
    $1,260,000
    -
    $391,843
    $2,758,157
    $3,150,000

    Comparable in this City

    • Value Estimation by Request
      1,350 SF

      1012 Memorial Dr, Unit S13

      OFFICE BUILDING • 1,350 SF
      1012 Memorial Dr, Griffin, GA 30223-4411
      View Details
    • Value Estimation by Request
      711 SF

      651 Taylor St

      OFFICE BUILDING • 711 SF
      651 Taylor St, Griffin, GA 30223-3636
      View Details
    • Value Estimation by Request
      480 SF

      1305 Experiment St

      OFFICE BUILDING • 480 SF
      1305 Experiment St, Griffin, GA 30223
      View Details
    • Value Estimation by Request
      2,250 SF

      125 Hl St

      OFFICE BUILDING • 2,250 SF
      125 Hl St, Griffin, GA 30223-3326
      View Details
    • Value Estimation by Request
      2,158 SF

      127 Hl Stsu1

      OFFICE BUILDING • 2,158 SF
      127 Hl Stsu1, Griffin, GA 30223-3429
      View Details
    • Value Estimation by Request
      858 SF

      406 Solomon St

      OFFICE BUILDING • 858 SF
      406 Solomon St, Griffin, GA 30223-3339
      View Details

    Similar Nearby for Sale

    • $207,000
      1,740 SF

      Griffin Office Building For Sale

      1740 SF office building with kitchen in Griffin, GA.
      1306 W Solomon St, Griffin, GA 30223
      View Details
    • New
      $220,000
      2,006 SF

      Corner Lot Commercial Building

      Well-maintained commercial building suitable for office or service-based businesses.
      502 W Solomon St, Griffin, GA 30223
      View Details
    • New
      $150,000
      1,224 SF

      Griffin Office Building For Sale

      Brick building ideal for office or professional business in Griffin.
      504 W Solomon St, Griffin, GA 30223
      View Details
    • $349,900
      3,246 SF

      Griffin Commercial Property For Sale

      3,246 SF commercial property in Griffin, GA with high visibility.
      702 Experiment St, Griffin, GA 30223
      View Details
    • $349,900
      3,246 SF

      Griffin Commercial Property with Parking

      3,246 SF commercial space with high visibility and parking.
      702 Experiment St, Griffin, GA 30223
      View Details
    • $450,000

      Griffin Commercial Property on Hwy 16

      Prime commercial property in Griffin's main business district.
      732 West Taylor St, Griffin, GA 30223
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      18 SF

      Griffin Expressway Office Space

      Prime Office Space, Multiple Uses
      547 Expressway, Griffin, GA 30223
      View Details
    • $3,700 /Mo
      4,712 SF

      Downtown Griffin Office Space Available

      Upstairs office space in downtown Griffin, available January 1st.
      127 E Solomon St, Griffin, GA 30223
      View Details
    • $2,000 /Mo
      69,696 SF

      Griffin Commercial Out Parcels For Lease

      Two commercial out parcels available for lease in Griffin, GA.
      2 Sep Tracts, Griffin, GA 30223
      View Details
    • Contact for pricing
      235,318 SF

      Griffin Shopping Center Opportunity

      High-traffic retail space available in Georgia.
      1424 Expressway, Griffin, GA 30223
      View Details
    • $8,000 /Mo
      6,250 SF

      Griffin Commercial Property For Rent

      6250 SF retail/warehouse space with high visibility.
      1517 Lucky St, Griffin, GA 30223
      View Details
    • Contact for pricing
      320,000 SF

      Class A Industrial Development

      Class A industrial development with direct access to I-75.
      Jackson Rd, Griffin, GA 30223
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2976 Expy Expressway
    Griffin, GA 30223-6495
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.