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Property profile & analytics
OFF-MARKET
Estimated value
$825,000
Industrial properties
40 Chamisa Rd Covington, GA 30016-1167
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US22-4249877
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2006
Total area
12,000 SF
Lot
2.57 ac (111,949 SF)
Zoning code
I3
APN
00240-00000-263-000
UPID
US22-4249877
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
$865k
CAP Approach
CAP
$1.13M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$825k
Owner & transaction history
Its Just Grass LLC · 4 yrs held
Its Just Grass LLC
since 2021
Last sale
$745,000
7 recorded transactions
Zoning & alternative use
I3 · Covington, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.3M
+373.6%
Auto repair, garage
$1.2M
+336.0%
Retail stores
$765,000
+172.9%
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
$940,000
ML approach
$865,000
CAP Approach
CAP Return
Estimation
6%
$1,220,000
6.5%
$1,125,000
7%
$1,045,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,330,000
Change: +374% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,225,000
Change: +336% · Conversion: Easy
RETAIL STORES
$765,000
Change: +173% · Conversion: Moderate
WAREHOUSE, STORAGE
$540,000
Change: +92% · Conversion: Easy
Blend value · Realmo final
$825k
Range $743k – $908k · ±10% · vs last sale $745k (Aug 11 2021)
Last sale anchor
$745k
Aug 11 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
$69 / 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
$8,170
Tax year 2023
Assessed value
$301,080
Assessed 2023
Previous assessed
$301,080
+0.0% YoY
Effective rate
2.71%
On assessed value
Assessed land
$60,000
Assessed improvement
$241,080
Land market value
$150,000
Improvement market value
$602,700
Total market value
$752,700
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
2006
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
12,000 SF
Lot
2.57 ac (111,949 SF)
Zoning code
I3
APN
00240-00000-263-000
UPID
US22-4249877
Jurisdiction
NEWTON
Zoning & alternative use
I3 · Covington, GA
Zoning I3 · permitted uses
I3 · 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
MEDICAL BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$765,000
WAREHOUSE, STORAGE
Est. value
$540,000
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
2006
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
2.57 ac
Current owner
From public records · entity-resolved
Its Just Grass LLC
Entity
Mailing address
PO BOX 1739, LAWRENCEVILLE, GA 30046-1739
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2021
$745,000
Its Just Grass LLC
Allen M Jackson
Warranty Deed
$596,000 · Atlanta Postal Credit Union
Jul 15, 2019
—
Allen M Jackson
—
Deed
related
$57,593 · Persons Bkng Co
Mar 27, 2015
—
Plumbing Ents INC
Peoples Bk
Quit Claim Deed
related
—
Dec 31, 2014
$585,000
Allen M Jackson
Peoples Bk
Grant Deed
$555,000 · Peoples Bk
Oct 29, 2010
—
Bk Peoples
Plumbing Ents
Deed In Lieu Of Foreclosure
related
—
Oct 27, 2010
—
The Peoples Bank
Plumbing,enterprises
Grant Deed
related
—
Sep 2, 2008
$895,000
Plumbing Ents INC
Peoples Bank
Grant Deed
$800,000 · Peoples Bank & Trust
Aug 27, 2008
$895,000
Plumbing Enterprises INC
The Peoples Bank
Grant Deed
—
Jul 9, 2008
$1,220,281
Peoples Bank
Shadowrock Properties LLC
Trustees Deed
related
—
Jul 1, 2008
$1,220,281
Peoples Bank
Peoples Bank
Grant Deed
related
—
Jan 14, 2005
$158,900
Shadowrock Props LLC
Mckinney, Larry A & Robert
Deed
$624,000 · Peoples Bk
—
—
Allen M Jackson
—
Loan Modification
related
$57,593 · Persons Bkng Co
—
—
Shadowrock Properties LLC
—
Deed Of Trust
related
—
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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