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    507 Expy Expressway Griffin, GA 30223-2073
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    Property profile & analytics

    507 Expy Expressway Griffin, GA 30223-2073

    View on Map
    • Community centers
    • 85,794 SF
    • 11.19 lot acres
    Off-Market
    Property ID
    US22-1916587
    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
    $11,080,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Community centers

    Property Details for 507 Expy Expressway

    Year built
    1988
    Construction
    WOOD
    Lot size
    11.19 lot acres
    Property size
    85,794 SF
    Zone code
    PCD
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    060 -01-008
    APU
    6001008

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $12,045,000
      RESTAURANT
      $10,730,000
      OFFICE BUILDING
      $10,495,000
      AUTO REPAIR, GARAGE
      $8,655,000
      MEDICAL BUILDING
      $8,130,000
      RETAIL STORES
      $7,400,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Griffin
    County
    Spalding
    State
    Georgia
    Longitude
    -84.29
    Latitude
    33.2568
    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
    $57,916
    $671,400
    $777,828
    $1,449,228
    -
    $1,678,500
    $1,944,570
    $3,623,070

    Comparable in this City

    • Value Estimation
      $1,715,000
      12,135 SF

      1595 Mcintosh Rd

      MINI-MALL • 12,135 SF
      1595 Mcintosh Rd, Griffin, GA 30223-1784
      View Details
    • Value Estimation
      $1,465,000
      10,400 SF

      1525 Mcintosh Rd

      MINI-MALL • 10,400 SF
      1525 Mcintosh Rd, Griffin, GA 30223-1773
      View Details
    • Value Estimation
      $11,380,000
      89,096 SF

      1424 Expy Expressway

      MINI-MALL • 89,096 SF
      1424 Expy Expressway, Griffin, GA 30223-1753
      View Details
    • Value Estimation by Request
      200,880 SF

      1671 Expy Expressway

      MINI-MALL • 200,880 SF
      1671 Expy Expressway, Griffin, GA 30223-1274
      View Details
    • Value Estimation
      $1,315,000
      10,000 SF

      1501 Expy Expressway

      MINI-MALL • 10,000 SF
      1501 Expy Expressway, Griffin, GA 30223-1746
      View Details
    • Value Estimation by Request
      235,318 SF

      1424 Expressway

      Lifestyle centers • 235,318 SF
      1424 Expressway, Griffin, GA 30223
      View Details

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      Griffin Commercial Building on 2.4 Acres

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      Griffin, GA Walgreens For Sale

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      8,765 SF

      Retail Property in Griffin, Georgia

      Retail property available for sale in Griffin, Georgia.
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    • $450,000

      Griffin Commercial Property on Hwy 16

      Prime commercial property in Griffin's main business district.
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      Griffin Commercial Property For Sale

      3,246 sq ft commercial property in Griffin, GA for sale.
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    Similar Nearby for Lease

    • New
      $245 SF/Yr
      2,000 SF

      Downtown Griffin Commercial Suites Available

      Flexible commercial suites in downtown Griffin, suitable for various businesses.
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      View Details
    • $1,500 /Mo
      1,562 SF

      Downtown Griffin Commercial Space Available

      Conveniently located retail/office/restaurant space in downtown Griffin, GA.
      119 W Solomon St, Griffin, GA 30223
      View Details
    • $1,300 /Mo
      1,226 SF

      Downtown Griffin Retail/Office Space

      Retail/office space in Griffin's active downtown area.
      128-1/2 S Hill St, Griffin, GA 30223
      View Details
    • $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
      320,000 SF

      Class A Industrial Development

      Class A industrial development with direct access to I-75.
      193 Jackson Rd, 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
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    507 Expy Expressway
    Griffin, GA 30223-2073
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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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