Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$6,445,000
Medical Office Space
3211 Iris Dr Covington, GA 30016-0907
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US22-0974098
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2004
Construction
CONCRETE
Total area
17,556 SF
Lot
3.32 ac (144,619 SF)
Zoning code
I1
APN
00240-00000-077-B00
UPID
US22-0974098
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
$6.22M
CAP Approach
CAP
$3.92M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.45M
Owner & transaction history
Covington Ga Mob Owner LLC · 5 yrs held
Covington Ga Mob Owner LLC
since 2021
Last sale
$6.7M
7 recorded transactions
Zoning & alternative use
I1 · 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
$6,155,000
ML approach
$6,220,000
CAP Approach
CAP Return
Estimation
6%
$4,240,000
6.5%
$3,915,000
7%
$3,635,000
Blend value · Realmo final
$6.45M
Range $5.80M – $7.09M · ±10% · vs last sale $6.70M (Feb 2 2021)
Last sale anchor
$6.70M
Feb 2 2021
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
$367 / 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
$61,004
Tax year 2023
Assessed value
$2,248,240
Assessed 2023
Previous assessed
$2,248,240
+0.0% YoY
Effective rate
2.71%
On assessed value
Assessed land
$140,000
Assessed improvement
$2,108,240
Land market value
$350,000
Improvement market value
$5,270,600
Total market value
$5,620,600
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2004
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
10
Total area
17,556 SF
Lot
3.32 ac (144,619 SF)
Zoning code
I1
APN
00240-00000-077-B00
UPID
US22-0974098
Jurisdiction
NEWTON
Zoning & alternative use
I1 · Covington, GAZoning I1 · permitted uses
I1 · Covington, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2004
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
10
Lot
3.32 ac
Current owner
From public records · entity-resolved
Covington Ga Mob Owner LLC
Entity
Mailing address
5404 WISCONSIN AVE STE #1150, CHEVY CHASE, MD 20815-3596
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2026
—
Covington Ga Mob Owner LLC
—
Deed
related
$137,835 · Webster Bankagent
Feb 2, 2021
$6,700,000
Covington Ga Mob Owner LLC
Mmac Ht II Covington Ga LLC
Warranty Deed
$76,027,200 · Bmo Harris Bank
Feb 4, 2019
—
Mmac Ht II Covington Ga LLC
—
Deed
related
$37,815,000 · Bmo Harris Bk NA
Sep 4, 2018
—
Mmac Ht II Covington Ga LLC
—
Deed
related
$30,243,000 · Bmo Harris Bk NA
Mar 20, 2018
$6,515,405
Mmac Ht II Covington Ga LLC
Diagnostic Ventures Of New
Warranty Deed
$13,161,000 · Bmo Harris Bank NA
—
—
Mmac Ht II Covington Ga LLC
—
Loan Modification
related
$37,815,000 · Bmo Harris Bk NA
—
—
Mmac Ht II Covington Ga LLC
—
Loan Modification
related
$30,243,000 · Bmo Harris Bk NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3211 Iris Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
