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Property profile & analytics
OFF-MARKET
Estimated value
$6,930,000
Strip malls
3249 Salem Rd Covington, GA 30016-1863
Entity Owned
3-yr Hold
Free & Clear
Property ID
US22-1109620
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1987
Construction
STEEL & CONCRETE
Total area
53,994 SF
Lot
6.95 ac (302,742 SF)
Zoning code
C1
APN
0012A-00000-142-000
UPID
US22-1109620
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
$6.93M
Owner & transaction history
Salem Square LLC · 3 yrs held
Salem Square LLC
since 2022
1 recorded transaction
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)
$8,860,000
Change: 0% · Conversion: Easy
RESTAURANT
$7,130,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$5,985,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,510,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$6.93M
Range $6.24M – $7.62M · ±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
$128 / 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
$23,032
Tax year 2023
Assessed value
$848,840
Assessed 2023
Previous assessed
$867,960
-2.2% YoY
Effective rate
2.71%
On assessed value
Assessed land
$266,739
Assessed improvement
$582,101
Land market value
$666,847
Improvement market value
$1,455,253
Total market value
$2,122,100
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1987
Construction
STEEL & CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
68
Total area
53,994 SF
Lot
6.95 ac (302,742 SF)
Zoning code
C1
APN
0012A-00000-142-000
UPID
US22-1109620
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
$8.9M
RESTAURANT
Est. value
$7.1M
MEDICAL BUILDING
Est. value
$6.0M
AUTO REPAIR, GARAGE
Est. value
$5.5M
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1987
Construction
STEEL & CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
68
Lot
6.95 ac
Current owner
From public records · entity-resolved
Salem Square LLC
Entity
Free & Clear · 3 yrs held
Mailing address
5855 SANDY SPGS CIR STE #290, SANDY SPRINGS, GA 30328-6277
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 14, 2022
—
Salem Square LLC
The Lansky Partnership Lllp
Warranty Deed
—
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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