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Property profile & analytics
OFF-MARKET
Estimated value
$7,965,000
Strip malls
3157 Elm NE St Covington, GA 30014-2466
Entity Owned
4-yr Hold
Free & Clear
Property ID
US22-2770058
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1964
Construction
LIGHT FRAME
Total area
61,804 SF
Lot
7.65 ac (333,234 SF)
Zoning code
C1
APN
C0220-00030-001-000
UPID
US22-2770058
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.97M
Owner & transaction history
Halpern Covington Corners LLC · 4 yrs held
Halpern Covington Corners LLC
since 2022
3 recorded transactions
Zoning & alternative use
C1 · Covington, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Covington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,350,000
Change: 0% · Conversion: Easy
RESTAURANT
$8,155,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,150,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$6,730,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$7.97M
Range $7.17M – $8.76M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$129 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$46,447
Tax year 2023
Assessed value
$1,238,640
Assessed 2023
Previous assessed
$1,238,640
+0.0% YoY
Effective rate
3.75%
On assessed value
Assessed land
$385,560
Assessed improvement
$853,080
Land market value
$963,900
Improvement market value
$2,132,700
Total market value
$3,096,600
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1964
Construction
LIGHT FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Bathrooms
40
Total area
61,804 SF
Lot
7.65 ac (333,234 SF)
Zoning code
C1
APN
C0220-00030-001-000
UPID
US22-2770058
Jurisdiction
NEWTON
Zoning & alternative use
C1 · Covington, GA
Zoning C1 · permitted uses
C1 · Covington, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Covington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$8.4M
RESTAURANT
Est. value
$8.2M
AUTO REPAIR, GARAGE
Est. value
$7.2M
MEDICAL BUILDING
Est. value
$6.7M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1964
Construction
LIGHT FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
40
Lot
7.65 ac
Current owner
From public records · entity-resolved
Halpern Covington Corners LLC
Entity
Free & Clear · 4 yrs held
Mailing address
5200 ROSWELL RD, ATLANTA, GA 30342-1915
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 27, 2023
—
Halpern Covington Corners LLC
—
Deed
related
$3,875,000 · Minnesota Life Insurance
May 5, 2022
—
Halpern Covington Corners LLC
Halpern Properties LLC
Quit Claim Deed
related
—
Jun 15, 2018
—
Halpern Properties LLC
—
Loan Modification
related
$31,500,000 · Wells Fargo Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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