Sign Up Successful!
You now have access to more from Realmo!
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

    4159 Ml NE St Covington, GA 30014-2546

    • Medical offices
    • 14,972 SF
    • 2.11 lot acres
    OFF-MARKET
    Value Estimations
    $1,795,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1728190
    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

    • Medical offices

    Property Details for 4159 Ml NE St

    Year built
    2000
    Construction
    WOOD
    Lot size
    2.11 lot acres
    Property size
    14,972 SF
    Zone code
    C1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    C0210-00010-011-A00
    APU
    C021000010011A00

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,588,000
      Market price range: $1.14M - $2.38M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,630,000
      Current use
      COMMERCIAL (GENERAL)
      $2,020,000
      Change: +24% Conversion: Easy
      RESTAURANT
      $1,975,000
      Change: +21% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,730,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Newton
    State
    Georgia
    Longitude
    -83.8508
    Latitude
    33.6014
    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
    $23,700
    $119,640
    $609,640
    $729,280
    -
    $299,100
    $1,524,100
    $1,823,200

    Comparable in this City

    • Value Estimation by Request
      1,695 SF

      4155 Baker NE St, Unit 100

      MEDICAL BUILDING • 1,695 SF
      4155 Baker NE St, Covington, GA 30014-1405
      View Details
    • Value Estimation by Request
      1,639 SF

      4152 Ml NE St

      MEDICAL BUILDING • 1,639 SF
      4152 Ml NE St, Covington, GA 30014-2540
      View Details
    • Value Estimation
      $1,505,000
      3,705 SF

      4168 Baker NE St

      MEDICAL BUILDING • 3,705 SF
      4168 Baker NE St, Covington, GA 30014-1404
      View Details
    • Value Estimation
      $1,070,000
      7,336 SF

      7125 Floyd NE St

      MEDICAL BUILDING • 7,336 SF
      7125 Floyd NE St, Covington, GA 30014
      View Details
    • Value Estimation
      $1,300,000
      27,514 SF

      8203 Hazelbrand NE Rd

      MEDICAL BUILDING • 27,514 SF
      8203 Hazelbrand NE Rd, Covington, GA 30014-1510
      View Details
    • Value Estimation by Request
      2,302 SF

      4106 Ml St Neb

      MEDICAL BUILDING • 2,302 SF
      4106 Ml St Neb, Covington, GA 30014-2539
      View Details

    Similar Nearby for Sale

    • $670,000
      1,755 SF

      Covington Personal Care Home Investment

      Fully leased, updated 8-bed personal care home near Covington Square.
      6133 Petty St SW, Covington, GA 30014
      View Details
    • $634,900
      3 SF

      Personal Care Home Near Covington

      Personal care home with 6 bedrooms on 3.17 acres.
      175 Crowell Rd N Covington, Covington, GA 30014
      View Details
    • Contact for pricing
      1.02 Acres

      Covington Office Suites - Great Location!

      Affordable Professional Office Space in Covington, GA.
      2180 Elm St, Covington, GA 30014
      View Details
    • $2,000,000
      36.00 Acres

      Prime 36-Acre Horse Farm in GA

      Covington equestrian estate, owner financing.
      460 Dixie Rd, Covington, GA 30014
      View Details
    • Contact for pricing
      0.35 Acres

      Residential Lot Near Covington Square

      Residential lot near Covington Square, less than an hour from Atlanta.
      7155 Petty St SW, Covington, GA 30014
      View Details
    • $125,000

      Commercial Land Ready For Development

      Cleared, level commercial land suitable for development.
      7134 Turner Lake Cir, Covington, GA 30014
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      8,400 SF

      Office and Warehouse Space Available

      Flex space with office, warehouse, and dock door access.
      Covington, GA 30014
      View Details
    • New
      $3,000 /Mo
      3,000 SF

      Versatile Commercial Space in Covington

      3,000 sq ft commercial space suitable for office and warehouse.
      8125 Industrial Way NE, Covington, GA 30014
      View Details
    • $40 SF/Yr
      150 SF

      Prime Covington Executive Office Suite

      150 sq ft, Single Tenant, Utilities Included
      2180 Elm St, Covington, GA 30014
      View Details
    • $3,500 /Mo
      3,000 SF

      Versatile Commercial Space in Covington

      Adaptable commercial building suitable for various business needs.
      3143 NE Mill St, Covington, GA 30014
      View Details
    • $500 /Mo
      4,483 SF

      Professional Office Suites For Rent

      Individual office suites and co-working spaces available in Covington, GA.
      2180 NE Elm St NE, Covington, GA 30014
      View Details
    • $750 /Mo
      47,045 SF

      Historic Office Space in Covington

      Prime commercial space in Covington's walkable, dynamic historic district.
      2175 Emory St NW, Covington, GA 30014
      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.
    4159 Ml NE St
    Covington, GA 30014-2546
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.