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    451 Highway 162 Covington, GA 30016

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    451 Highway 162 Covington, GA 30016

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    • Commercial real estate
    • 11.58 lot acres
    Off-Market
    Property ID
    US22-1363955
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 451 Highway 162

    Year built
    1920
    Lot size
    11.58 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 11.58-acre mixed-use property, located at 451 Highway 162 in Covington, Georgia (zip code 30016), presents a remarkable investment opportunity. Boasting over 201 feet of highway frontage, this strategically positioned land offers unparalleled visibility and accessibility. Centrally located near Covington, Porterdale, Conyers, and McDonough, it benefits from strong regional connectivity and a thriving local economy. The property, built in 1920, is zoned commercial and ready for development. Utilities, including power and water, are readily available, requiring only connection. An existing well on the site adds further potential. This expansive parcel provides ample space for a variety of commercial ventures, capitalizing on its high-traffic location and convenient access to major transportation routes. The asking price is $345,000. This is a rare chance to acquire a significant piece of commercial real estate in a rapidly growing area of Newton County, Georgia. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Newton - GA
    State
    Georgia
    Longitude
    -83.907731
    Latitude
    33.552116

    Comparable in this City

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      Covington Commercial Land For Sale

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      Covington Commercial Land For Sale

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      Wooded Land with River Frontage

      Wooded property with river frontage, suitable for various uses.
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      Commercial Land in Salem Road Area

      Commercial land with potential for rezoning in a busy area.
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      Covington Land for Dream Home

      12.21 acre wooded lot near Lake Jackson.
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    • $125,000
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      Commercial Lot Near Kroger

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    Similar Nearby for Sale

    • $750,000
      9.53 Acres

      Covington Commercial Land For Sale

      9.53 acre commercial land with potential for various uses.
      4681 Salem Rd, Covington, GA 30016
      View Details
    • $795,000
      Pending

      Covington Commercial Land For Sale

      17.39 acre commercial land in Covington, Georgia.
      2601 Access Rd, Covington, GA 30016
      View Details
    • $415,700
      41.57 Acres

      Wooded Land with River Frontage

      Wooded property with river frontage, suitable for various uses.
      10-002 Butler Bridge Rd, Covington, GA 30016
      View Details
    • $750,000

      Commercial Land in Salem Road Area

      Commercial land with potential for rezoning in a busy area.
      4681 Salem Rd, Covington, GA 30016
      View Details
    • $200,000
      12.21 Acres

      Covington Land for Dream Home

      12.21 acre wooded lot near Lake Jackson.
      120 Conley Ditch Rd, Covington, GA 30016
      View Details
    • $125,000
      0.49 Acres

      Commercial Lot Near Kroger

      Commercial land for sale near Hwy 20/212 in Covington.
      5240 Highway 20 S, Covington, GA 30016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
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    • $2,100 /Mo

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    Covington, GA 30016
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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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