Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    402 Palace St Griffin, GA 30223-2431

    • Auto shops
    • 1,412 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-0794527
    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

    • Auto shops

    Property Details for 402 Palace St

    Year built
    1949
    Construction
    WOOD
    Lot size
    0.11 lot acres
    Property size
    1,412 SF
    Zone code
    MDR
    Property type
    Auto shops
    APN
    008 -01-023
    APU
    801023

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Griffin
    County
    Spalding
    State
    Georgia
    Longitude
    -84.2688
    Latitude
    33.2533
    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
    $0.00
    $3,036
    $1,216
    $4,252
    -
    $7,590
    $3,040
    $10,630

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      1426 Baker St

      AUTO REPAIR, GARAGE • 2,400 SF
      1426 Baker St, Griffin, GA 30223-2002
      View Details
    • Value Estimation by Request
      1,640 SF

      947 Hamilton Blvd

      AUTO REPAIR, GARAGE • 1,640 SF
      947 Hamilton Blvd, Griffin, GA 30223-4430
      View Details
    • Value Estimation by Request
      1,260 SF

      1420 Baker St

      AUTO REPAIR, GARAGE • 1,260 SF
      1420 Baker St, Griffin, GA 30223-2002
      View Details
    • Value Estimation by Request
      2,160 SF

      2676 Expy Expressway

      AUTO REPAIR, GARAGE • 2,160 SF
      2676 Expy Expressway, Griffin, GA 30223-7201
      View Details
    • Value Estimation by Request
      2,744 SF

      123 5th St

      AUTO REPAIR, GARAGE • 2,744 SF
      123 5th St, Griffin, GA 30223-3403
      View Details
    • Value Estimation
      $1,475,000
      5,000 SF

      905 Hamilton Blvd

      AUTO REPAIR, GARAGE • 5,000 SF
      905 Hamilton Blvd, Griffin, GA 30223-4430
      View Details

    Similar Nearby for Sale

    • $4,750,000
      Pending

      Griffin Commercial Property on 8.43 Acres

      8.43 acre commercial property with state-of-the-art buildings.
      2425 Expressway N, Griffin, GA 30223
      View Details
    • $850,000
      8.13 Acres

      8-Acre Corner Lot in Griffin

      8-acre corner lot suitable for commercial or mixed-use development.
      3128 High Falls Rd, Griffin, GA 30223
      View Details
    • $2,350,000
      1.39 Acres

      Prime Commercial Corner Lot Opportunity

      High-visibility corner lot in Griffin, GA, suitable for various businesses.
      1136 Tracts, Griffin, GA 30223
      View Details
    • Contact for pricing
      6,010 SF

      Griffin, GA - Plasma Center

      NNN leased Parachute Plasma on 1.37 acres.
      1301 Expressway N, Griffin, GA 30223
      View Details
    • $560,000
      2,516 SF

      Griffin Retail Investment Opportunity

      High-yield, 100% leased retail building.
      317 Taylor St, Griffin, GA 30223
      View Details
    • Contact for pricing

      Griffin Crossroads Restaurant for Sale

      Stand-alone restaurant in a high-traffic retail corridor, prime for redevelopment.
      1512 W Mcintosh Rd, Griffin, GA 30223
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo
      69,696 SF

      Griffin Commercial Out Parcels For Lease

      Two commercial out parcels available for lease in Griffin, GA.
      2 Sep Tracts, Griffin, GA 30223
      View Details
    • Contact for pricing
      235,318 SF

      Griffin Shopping Center Opportunity

      High-traffic retail space available in Georgia.
      1424 Expressway, Griffin, GA 30223
      View Details
    • $16 SF/Yr
      18 SF

      Griffin Expressway Office Space

      Prime Office Space, Multiple Uses
      547 Expressway, Griffin, GA 30223
      View Details
    • Contact for pricing
      320,000 SF

      Class A Industrial Development

      Class A industrial development with direct access to I-75.
      Jackson Rd, Griffin, GA 30223
      View Details
    • $3,700 /Mo
      4,712 SF

      Downtown Griffin Office Space Available

      Spacious office in prime downtown location near courthouse.
      127 E Solomon St, Griffin, GA 30223
      View Details
    • Contact for pricing
      1,000,000 SF

      Land Available For Lease

      Commercial land available for lease, construction can begin Sept 2022.
      480 Tomochichi Rd, Griffin, GA 30223
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    402 Palace St
    Griffin, GA 30223-2431
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!