Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,235,000
Medical Office Space
503 8th St Griffin, GA 30224-4211
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US22-2727747
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1983
Construction
WOOD
Total area
7,979 SF
Lot
0.43 ac (18,731 SF)
Zoning code
PCD
APN
023 -15-003
UPID
US22-2727747
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
-
Ashley Johnson Physician
-
Mc Cree Debra Employment Agency
-
Stanley Lynn Employment Agency
-
Scott Jamie Employment Agency
-
Everhart Genevea Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$906k
Blend (final)
Blend
$1.24M
Owner & transaction history
Wellstar Spalding Regional Hospital · 1 yrs held
Wellstar Spalding Regional Hospital
since 2025
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
PCD · Griffin, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+114.2%
Commercial (general)
$1.2M
+35.9%
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 Griffin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Griffin 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
$1,100,000
ML approach
$1,235,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$915,000
Current use
RESTAURANT
$1,960,000
Change: +114% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,245,000
Change: +36% · Conversion: Easy
AUTO REPAIR, GARAGE
$905,000
Change: -1% · Conversion: Difficult
RETAIL STORES
$870,000
Change: -5% · Conversion: Difficult
OFFICE BUILDING
$865,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$1.24M
Range $1.11M – $1.36M · ±10% · vs last sale $1.30M (Jan 27 2025)
Last sale anchor
$1.30M
Jan 27 2025
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
$155 / 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
$18,496
Tax year 2023
Assessed value
$462,826
Assessed 2023
Previous assessed
$462,826
+0.0% YoY
Effective rate
4.00%
On assessed value
Assessed land
$29,970
Assessed improvement
$432,856
Land market value
$74,924
Improvement market value
$1,082,139
Total market value
$1,157,063
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
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1983
Construction
WOOD
Heating
YES
Cooling
YES
Total area
7,979 SF
Lot
0.43 ac (18,731 SF)
Zoning code
PCD
APN
023 -15-003
UPID
US22-2727747
Jurisdiction
SPALDING
Zoning & alternative use
PCD · Griffin, GA
Zoning PCD · permitted uses
PCD · Griffin, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Griffin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$915,000
RESTAURANT
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$905,000
RETAIL STORES
Est. value
$870,000
OFFICE BUILDING
Est. value
$865,000
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE 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
1983
Construction
WOOD
Heating
YES
Cooling
Yes
Lot
0.43 ac
Current owner
From public records · entity-resolved
Wellstar Spalding Regional Hospital
Individual
Mailing address
503 S 8TH ST, GRIFFIN, GA 30224-4211
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2025
$1,300,000
Wellstar Spalding Regional Hospital
503 Associates LLC
Warranty Deed
—
—
—
503 Associates LLC
—
Deed Of Trust
related
$150,285 · United Bank
—
—
503 Associates LLC
—
Deed Of Trust
related
$150,652 · First National Bank Griffin
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 503 8th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
