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

    305 Westpark Dr Athens, GA 30606-7296

    • Commercial land
    • 0.32 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1436706
    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 land

    Property Details for 305 Westpark Dr

    Lot size
    0.32 lot acres
    Zone code
    C-N
    Property type
    Commercial land
    APN
    07-3- -002-D
    APU
    073002D

    Description

    This exceptional 900,000 dollar land parcel in Athens, Georgia, presents a unique opportunity for developers. Located at 305 Westpark Drive, in Clarke County, zip code 30606 (33.935041, -83.462287), this build-ready site boasts pre-approved plans for an 18-unit luxury condominium complex. The property's strategic location on the west side of Athens offers unparalleled convenience and accessibility. Situated just off Atlanta Highway and Jennings Mill Road, it enjoys close proximity to a vibrant array of retail establishments and dining options. Residents will find themselves within easy reach of major shopping destinations like Publix and Georgia Square Mall, as well as popular restaurants such as Chick-fil-A and Depalma's Italian Cafe. This prime location ensures high demand and strong rental potential for the future condominium development. The site is classified as residential land and is ready for immediate development, eliminating lengthy permitting processes and saving valuable time and resources. This is an exceptional opportunity to capitalize on the thriving Athens real estate market and create a highly desirable luxury condominium community. The property is zoned for residential use and all necessary approvals for the 18-unit condo project are in place.

    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
    Athens
    County
    Clarke
    State
    Georgia
    Longitude
    -83.4623
    Latitude
    33.935
    CBSA code
    12020
    CBSA name
    ATHENS-CLARKE COUNTY, 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
    $432
    $13,824
    $0.00
    $13,824
    -
    $34,560
    $0.00
    $34,560

    Comparable in this City

    • Value Estimation by Request
      0.20 Acres

      120 Mitchell Brg Rd

      VACANT COMMERCIAL LAND • 0.20 Acres
      120 Mitchell Brg Rd, Athens, GA 30606
      View Details
    • Value Estimation by Request
      0.81 Acres

      172 Old Epps Brg Rd

      VACANT COMMERCIAL LAND • 0.81 Acres
      172 Old Epps Brg Rd, Athens, GA 30606-2856
      View Details
    • Value Estimation by Request
      0.01 Acres

      1228 Prince Ave

      VACANT COMMERCIAL LAND • 0.01 Acres
      1228 Prince Ave, Athens, GA 30606-2732
      View Details
    • Value Estimation by Request
      1.98 Acres

      Rockinwood Dr

      VACANT COMMERCIAL LAND • 1.98 Acres
      Rockinwood Dr, Athens, GA 30606
      View Details
    • Value Estimation by Request
      1.95 Acres

      334 Commerce Blvd

      VACANT COMMERCIAL LAND • 1.95 Acres
      334 Commerce Blvd, Athens, GA 30606-0824
      View Details
    • Value Estimation by Request
      0.18 Acres

      Macon Hwy

      VACANT COMMERCIAL LAND • 0.18 Acres
      Macon Hwy, Athens, GA 30606
      View Details

    Similar Nearby for Sale

    • $175,000

      Commercial Lot on Atlanta Highway

      Centrally located commercial lot ideal for office, medical, or studio.
      120 Athens Town Blvd, Athens, GA 30606
      View Details
    • $799,000

      Oconee County Commercial Land

      3.73 acres of commercial land in Oconee County.
      8660 Macon Hwy, Athens, GA 30606
      View Details
    • $684,000

      West Athens Commercial Land Opportunity

      5.7 acre commercial land with high traffic frontage.
      200 Classic Rd, Athens, GA 30606
      View Details
    • $175,000

      Commercial Lot in Prime Location

      Centrally located commercial lot, ideal for office or medical use.
      120 Athens Town Blvd, Athens, GA 30606
      View Details
    • $175,000

      Commercial Lot on Atlanta Highway

      Centrally located commercial lot with high visibility and direct access.
      120 Athens Town Blvd, Athens, GA 30606
      View Details
    • Contact for pricing

      Land Approved for Condo Building

      Undeveloped land approved for a new condo building.
      305 Westpark Dr, Athens, GA 30606
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Office Space with Ample Parking

      Office space featuring separate offices, restrooms, and kitchen area.
      650 Oglethorpe Ave, Athens, GA 30606
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Atlanta Highway

      Retail space available in high-traffic Athens corridor.
      3755 Atlanta Hwy, Athens, GA 30606
      View Details
    • Contact for pricing
      67,167 SF

      Class A Athens Office Space

      Prime Oconee County office building, multiple suites available.
      2500 Daniells Bridge Rd, Athens, GA 30606
      View Details
    • $29 SF/Yr
      34,464 SF

      Athens Office Complex - West Broad St.

      Multi-tenant office & retail space, ideal for diverse businesses.
      2500 Broad St, Athens, GA 30606
      View Details
    • $15 SF/Yr
      17,856 SF

      Athens Office Space for Lease

      Prime Athens location, 2,215 sq ft available
      1865 Broad St, Athens, GA 30606
      View Details
    • $900 /Mo
      828 SF

      Versatile Office Suite in Athens

      828 sq ft office suite with waiting room and parking.
      485 Huntington Rd Unit, Athens, GA 30606
      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.
    305 Westpark Dr
    Athens, GA 30606-7296
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.