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Property profile & analytics
OFF-MARKET
Estimated value
$2,250,000
Strip malls
4060 Covington Hwy Decatur, GA 30032-2668
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US22-1505505
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Total area
16,130 SF
Lot
15.19 ac (661,676 SF)
Zoning code
C1
APN
15 197 05 001
UPID
US22-1505505
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
Current use
Occupant on record · Public records
-
Roses Discount Store Discount Store
-
Amazon Locker - Ladislao Courier Service Postal Service
-
TKT Playtime Inflata Park Arcade & Gaming Center Family Recreation Center
-
The Covington Black Market Specialty Food Shop Farmer's Market
-
Oz Laundry (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.64M
Blend (final)
Blend
$2.25M
Owner & transaction history
Sl Covington Place LLC · 2 yrs held
Sl Covington Place LLC
since 2024
Last sale
$2.3M
6 recorded transactions
Zoning & alternative use
C1 · Decatur, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.7M
+103.3%
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 Decatur submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Decatur 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
$2,250,000
ML approach
$2,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,840,000
Current use
MEDICAL BUILDING
$3,735,000
Change: +103% · Conversion: Difficult
Blend value · Realmo final
$2.25M
Range $2.03M – $2.48M · ±10% · vs last sale $2.25M (Mar 15 2024)
Last sale anchor
$2.25M
Mar 15 2024
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
$139 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$46,646
Tax year 2024
Assessed value
$792,280
Assessed 2024
Previous assessed
$792,280
+0.0% YoY
Effective rate
5.89%
On assessed value
Assessed land
$388,217
Assessed improvement
$404,063
Land market value
$970,543
Improvement market value
$1,010,157
Total market value
$1,980,700
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
1986
Heating
NONE
Cooling
YES
Buildings
5
Stories
1
Total area
16,130 SF
Lot
15.19 ac (661,676 SF)
Zoning code
C1
APN
15 197 05 001
UPID
US22-1505505
Jurisdiction
DE KALB
Zoning & alternative use
C1 · Decatur, GA
Zoning C1 · permitted uses
C1 · Decatur, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Decatur. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$3.7M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
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
1986
Heating
NONE
Cooling
Yes
Stories
1
Buildings
5
Lot
15.19 ac
Current owner
From public records · entity-resolved
Sl Covington Place LLC
Entity
Mailing address
4060 COVINGTON HWY SE, DECATUR, GA 30032-2668
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2024
—
Sl Covington Place LLC
Hometrust Bank
Quit Claim Deed
related
—
Jun 19, 2018
$2,250,000
Sl Covington Place LLC
Carter Bk & Trust
Grant Deed
$2,204,215 · Charter Bk
Mar 30, 2015
$5,200,000
Covington Place Associates LLC
Interstate Properties LLC
Grant Deed
—
May 18, 2010
—
Interstate Properties LLC
Covington,place Associates
Grant Deed
related
—
Apr 23, 2008
—
Dekalb County
Covington,place Associates
Grant Deed
related
—
—
—
Covington Place Assoc LLC
—
Deed Of Trust
related
$13,900,000 · Blue Ridge Bank & Trust Co
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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