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

    3024 Miller Rd Lithonia, GA 30038-2215

    • Warehouses
    • 67,475 SF
    • 6.29 lot acres
    OFF-MARKET
    Last Sale
    Oct 25, 2021
    $4,151,088
    Value Estimations
    $5,705,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-0168423
    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

    • Warehouses

    Property Details for 3024 Miller Rd

    Year built
    1974
    Lot size
    6.29 lot acres
    Property size
    67,475 SF
    Zone code
    X
    Property type
    Warehouses
    APN
    16 023 02 036
    APU
    1602302036

    Description

    This exceptional industrial property, located at 3024-3052 Miller Road in Stonecrest, Georgia, offers a versatile warehouse and distribution space totaling 70,000 square feet. Currently, 5,350 square feet is immediately available for lease. The building, constructed in 1978, features a single story with high ceilings measuring 18 feet, ideal for various industrial uses. The property boasts excellent access with three dock-high doors and one drive-in door, facilitating efficient loading and unloading. Ample parking is provided with 110 spaces available for employees and visitors. The warehouse space is complemented by 1,188 square feet of office space, providing a functional area for administrative tasks. The remaining 4,162 square feet is dedicated to warehouse storage. Situated on three acres of land, this property is zoned M and benefits from its location in the Snapfinger/I-20 East submarket cluster, offering convenient access to major transportation routes. This multi-tenant building presents a unique opportunity for businesses seeking a well-maintained and strategically located industrial space in the thriving Stonecrest area (zip code 30038).

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,620,000
      ML approach
      $4,520,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,255,000
      6.5%
      $7,620,000
      7%
      $7,075,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,370,000
      Market price range: $3.89M - $8.47M
      AI Estimate
      $4,005,000
      Market price range: $1.71M - $5.96M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $5,845,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lithonia
    County
    Dekalb
    State
    Georgia
    Longitude
    -84.1841
    Latitude
    33.7
    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
    $139,328
    $93,038
    $2,710,082
    $2,803,120
    -
    $232,594
    $6,775,206
    $7,007,800

    Comparable in this City

    • Value Estimation
      $800,000
      72,866 SF

      5259 Minola Dr

      WAREHOUSE, STORAGE • 72,866 SF
      5259 Minola Dr, Lithonia, GA 30038-2310
      View Details
    • Value Estimation
      $815,000
      22,220 SF

      5070 Minola Dr

      WAREHOUSE, STORAGE • 22,220 SF
      5070 Minola Dr, Lithonia, GA 30038-2304
      View Details
    • Value Estimation
      $3,635,000
      33,564 SF

      5101 Chatooga Dr

      WAREHOUSE, STORAGE • 33,564 SF
      5101 Chatooga Dr, Lithonia, GA 30038-2302
      View Details
    • Value Estimation
      $1,070,000
      90,938 SF

      8509 Mall Pkwy

      MINI-WAREHOUSE, STORAGE • 90,938 SF
      8509 Mall Pkwy, Lithonia, GA 30038
      View Details
    • Value Estimation
      $2,795,000
      25,184 SF

      5079 Chatooga Dr

      WAREHOUSE, STORAGE • 25,184 SF
      5079 Chatooga Dr, Lithonia, GA 30038-2301
      View Details
    • Value Estimation
      $1,035,000
      198,695 SF

      5075 Minola Dr

      WAREHOUSE, STORAGE • 198,695 SF
      5075 Minola Dr, Lithonia, GA 30038-2300
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      48,276 SF

      Lithonia Warehouse with Truck Court

      48,276 SF warehouse with office space and truck court.
      5070-5079 Chatooga Dr, Lithonia, GA 30038
      View Details
    • $329,000
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      Stonecrest Industrial Land

      Prime I-20 location, high visibility.
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    • $329,000

      Land Near Stonecrest Mall

      3.07-acre site near I-20, ideal for storage/flex building.
      8489 I-20 East Access, Lithonia, GA 30038
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    • Contact for pricing
      0.80 Acres

      Corner Lot in Lithonia, GA

      0.8-acre corner lot with swim and tennis amenities.
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    • $495,000
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      Lithonia Land Development Opportunity

      3.5-acre residential land parcel in a growing area.
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    • $199,900
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      Secluded 11-acre land parcel near Stonecrest Mall and I-20.
      4406 Roundtree Ln, Lithonia, GA 30038
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Stonecrest Retail Outparcel Opportunity

      High-traffic location, 0.72 acres.
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      Stonecrest Marketplace Retail Center

      Prime Retail Space Available in Stonecrest, GA
      8100 Mall Pkwy, Stonecrest, GA 30038
      View Details
    • Contact for pricing
      8,400 SF

      Shops at Stonecrest: Retail Space

      Prime Stonecrest Retail, 1,200 SF Available
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    • 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
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    • $2,250 /Mo
      7,500 SF

      Lithonia Office Suite For Rent

      Office suite with private rooms, suitable for various businesses.
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    • Contact for pricing
      89,193 SF

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      View Details
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    Lithonia, GA 30038-2215
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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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