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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    38 Main St Newnan, GA 30263-1032

    • Office Properties & Spaces
    • 1,334 SF
    • 0.25 lot acres
    OFF-MARKET
    Value Estimations
    $225,000
    Show details
    Cap Rate Potential
    6.5%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US22-0743052
    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

    • DUI School of Coweta / Driving School / State Office Of Education

    Property Details for 38 Main St

    Year built
    1910
    Construction
    WOOD
    Lot size
    0.25 lot acres
    Property size
    1,334 SF
    Zone code
    R2
    Property type
    Office Properties & Spaces
    APN
    N58 0004 006
    APU
    N580004006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $270,000
      6.5%
      $250,000
      7%
      $230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $162,000
      Market price range: $85.4k - $445k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $215,000
      Current use
      MEDICAL BUILDING
      $285,000
      Change: +33% Conversion: Easy
      AUTO REPAIR, GARAGE
      $235,000
      Change: +11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Newnan
    County
    Coweta
    State
    Georgia
    Longitude
    -84.7855
    Latitude
    33.3893
    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
    $834
    $14,623
    $21,857
    $36,480
    -
    $36,558
    $54,642
    $91,200

    Comparable in this City

    • Value Estimation
      $265,000
      168 SF

      242 Greenville St

      OFFICE (GENERAL) • 168 SF
      242 Greenville St, Newnan, GA 30263-2633
      View Details
    • Value Estimation
      $225,000
      966 SF

      629 Greison Trl

      OFFICE (GENERAL) • 966 SF
      629 Greison Trl, Newnan, GA 30263-1879
      View Details
    • Value Estimation
      $310,000
      1,911 SF

      8 Jackson St

      OFFICE (GENERAL) • 1,911 SF
      8 Jackson St, Newnan, GA 30263-1929
      View Details
    • Value Estimation
      $255,000
      3,389 SF

      41 Jefferson St

      OFFICE (GENERAL) • 3,389 SF
      41 Jefferson St, Newnan, GA 30263-1949
      View Details
    • Value Estimation
      $310,000
      1,800 SF

      22 Lee St

      OFFICE (GENERAL) • 1,800 SF
      22 Lee St, Newnan, GA 30263-1955
      View Details
    • Value Estimation
      $340,000
      2,102 SF

      103 Temple Ave

      OFFICE (GENERAL) • 2,102 SF
      103 Temple Ave, Newnan, GA 30263-1624
      View Details

    Similar Nearby for Sale

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      Newnan Commercial Building For Sale

      Two retail suites and a large office suite available.
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    • $475,000
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      Historic Building in Downtown Newnan

      Charming 1900s building near Newnan's Square, versatile and open.
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      Renovated Medical Office Investment

      Renovated medical office with long-term tenant in Newnan, GA.
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    • $345,000
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      Newnan Office Property For Sale

      Office property in Newnan, suitable for various professional businesses.
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    • $675,000
      1,950 SF

      Historic Office Building in Newnan

      Furnished office building in Newnan's historic downtown district.
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    • $750,000
      7.50 Acres

      Newnan Bypass Residential Land

      7.5 Acres, High-Density Zoning, Prime Location
      0 Millard Farmer Industrial Blvd, Newnan, GA 30263
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      146,121 SF

      Newnan Executive Office Space

      Prime Newnan Office, Retail & Restaurant Space
      228 Bullsboro Dr, Newnan, GA 30263
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    • $2,809 /Mo
      5,000 SF

      Newnan Office Space For Rent

      Office space with multiple offices, convenient location near I-85.
      1585 Highway 34 E, Newnan, GA 30263
      View Details
    • $2,900 /Mo
      11,618 SF

      Newnan Office Space For Lease

      Professional office space available in Newnan, Georgia.
      145 Millard Farmer Industrial Blvd, Newnan, GA 30263
      View Details
    • New
      $2,333 /Mo
      54,000 SF

      Newnan Retail or Office Space

      Retail or office space in bustling Westside Plaza.
      273 Temple Ave, Newnan, GA 30263
      View Details
    • $3,575 /Mo
      5,360 SF

      Office Space in Newnan, GA

      Office suites available for lease in Newnan, Georgia.
      225 Millard Farmer Industrial Blvd, Newnan, GA 30263
      View Details
    • Contact for pricing
      90,000 SF

      Industrial Space Available for Lease

      Industrial space for lease, subdividable, rear loading, dock-highs and drive-ins.
      Ellen Sims Ct, Newnan, GA 30263
      View Details
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    38 Main St
    Newnan, GA 30263-1032
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    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
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