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

    311 Alcovy St Monroe, GA 30655-2139

    • Medical offices
    • 1,600 SF
    • 0.30 lot acres
    OFF-MARKET
    Last Sale
    Mar 10, 2022
    $350,000
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    7%
    Medical offices
    Location Intelligence
    Property ID
    US22-1291141
    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

    • Monroe Pediatrics / Pediatrician
    • Dr. Andrea V. Hill, MD / Pediatrician

    Property Details for 311 Alcovy St

    Year built
    1983
    Construction
    WOOD
    Lot size
    0.30 lot acres
    Property size
    1,600 SF
    Zone code
    R1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    M0180-039
    APU
    M0180039

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $335,000
      ML approach
      $370,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $385,000
      6.5%
      $355,000
      7%
      $330,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $350,000
      COMMERCIAL (GENERAL)
      $210,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Walton
    State
    Georgia
    Longitude
    -83.7157
    Latitude
    33.7858
    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
    $3,554
    $11,760
    $89,880
    $101,640
    -
    $29,400
    $224,700
    $254,100

    Comparable in this City

    • Value Estimation
      $325,000
      6,544 SF

      868 Michael Etchison Rd

      MEDICAL BUILDING • 6,544 SF
      868 Michael Etchison Rd, Monroe, GA 30655-8204
      View Details
    • Value Estimation
      $505,000
      2,736 SF

      709 Breedlove Dr

      MEDICAL BUILDING • 2,736 SF
      709 Breedlove Dr, Monroe, GA 30655-2055
      View Details
    • Value Estimation
      $295,000
      1,680 SF

      211 Baker St

      MEDICAL BUILDING • 1,680 SF
      211 Baker St, Monroe, GA 30655
      View Details
    • Value Estimation
      $295,000
      4,960 SF

      704 Breedlove Dr

      MEDICAL BUILDING • 4,960 SF
      704 Breedlove Dr, Monroe, GA 30655-2054
      View Details
    • Value Estimation
      $310,000
      4,388 SF

      513 Great Oaks Dr

      MEDICAL BUILDING • 4,388 SF
      513 Great Oaks Dr, Monroe, GA 30655-8230
      View Details
    • Value Estimation
      $290,000
      3,019 SF

      803 Spg St

      MEDICAL BUILDING • 3,019 SF
      803 Spg St, Monroe, GA 30655-2494
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.19 Acres

      Monroe Office Suites - Historic Charm

      Executive Offices, High Visibility, Utilities Included
      248 Broad St, Monroe, GA 30655
      View Details
    • $250,000

      Commercial Space Near Downtown Monroe

      Versatile commercial property with office spaces, reception, and flexible kitchen.
      1216 S Broad St, Monroe, GA 30655
      View Details
    • $1,100,000
      3,416 SF

      Historic Downtown Monroe Commercial Building

      Adaptable commercial space in historic downtown Monroe district.
      338 N Broad St, Monroe, GA 30655
      View Details
    • New
      $375,000
      1,600 SF

      Renovated Commercial Building in Monroe

      Newly renovated 1,600 SF commercial building in Downtown Monroe.
      333 Alcovy St, Monroe, GA 30655
      View Details
    • $289,000
      1,250 SF

      Victorian Cottage in Historic District

      Charming 1920s cottage in downtown Monroe's historic Mill District.
      808 S Broad St, Monroe, GA 30655
      View Details
    • Contact for pricing
      5.32 Acres

      705 Breedlove Dr, Monroe, GA 30655

      Office Properties & Spaces • 5.32 Acres
      705 Breedlove Dr, Monroe, GA 30655
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      800 SF

      Prime Monroe Executive Office Space

      Historic building, high visibility, 800 sq ft.
      1994 New Hope Church Rd, Between, GA 30655
      View Details
    • $24 SF/Yr
      9,500 SF

      Prime Monroe Office/Retail Space

      9,500 SF Office/Retail Building, 1,500 SF Available
      250 M.l.k. Jr Blvd, Monroe, GA 30655
      View Details
    • $1,600 /Mo
      1,250 SF

      In-Town Cottage Office Space

      Commercial lease in Monroe's Mill District, available immediately.
      808 S Broad St, Monroe, GA 30655
      View Details
    • Contact for pricing
      23,500 SF

      Paradise Shoppes Retail Space

      High-traffic Monroe retail space available.
      1946-1986 Spring St, Monroe, GA 30655
      View Details
    • $2,750 /Mo
      627,264 SF

      Monroe Event Venue for Rent

      14.4-acre event venue with stage and vendor hookups.
      1320 E Church St, Monroe, GA 30655
      View Details
    • $25 SF/Yr
      1,500 SF

      Retail Space in Monroe, GA

      Corner retail space with drive-through in Walton County.
      1865 Highway 138, Monroe, GA 30655
      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.
    311 Alcovy St
    Monroe, GA 30655-2139
    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.