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    51 Pope St Newnan, GA 30263
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    51 Pope St Newnan, GA 30263

    View on Map
    • Residential land & home lots
    Off-Market
    Property ID
    US22-2322662
    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

    • Residential land & home lots

    Property Details for 51 Pope St

    Year built
    2024
    Property type
    Residential land & home lots

    Description

    An exceptional investment opportunity! This prime piece of developed land is fully approved for the construction of 11 townhomes, making it ideal for developers looking to create a modern, residential townhome community perfectly positioned in the growing City of Newnan. Newnan is located approximately 40 miles southwest of Atlanta. //// Key features of the property include: • Zoning and permits: All zoning approvals and building permits are in place, allowing for immediate construction of 11 townhomes. *** • Infrastructure: The site is in process to build with essential infrastructure, including utilities such as water, electricity, and sewer lines, saving you time and upfront costs. *** • Location: Nestled in a highly sought-after neighborhood, this land offers easy access to local amenities, schools, parks, and public transportation, ensuring strong market appeal for future homebuyers. *** • Architectural Plans: Optional, pre-approved architectural plans for contemporary townhomes are available, showcasing designs for 3 to 4-bedrooits with private garages and outdoor living spaces. *** • Builder – The seller as the builder, will help you to build the project if needed. *** This project presents an excellent opportunity for developers to build and sell premium townhomes in a thriving area. Whether you're looking to create a luxury residential community or build high-demand homes, this land is ready for your vision.

    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
    Newnan
    County
    Coweta
    State
    Georgia
    Longitude
    -84.7829623
    Latitude
    33.3786507

    Comparable in this City

    • New
      Contact for pricing
      Pending

      Residential Lot in Established Neighborhood

      1.15 acre residential lot in Newnan, Georgia.
      Glenmar Dr, Newnan, GA 30263
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    • $298,018
      6.01 Acres

      Land Near Downtown Newnan

      6 acres of land, ideal for residential development.
      100 Lovelace St, Newnan, GA 30263
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    • $159,900
      2.72 Acres

      Newnan Land with Buildable Tracts

      2.721 acre lot near downtown Newnan with road frontage.
      Belk Rd, Newnan, GA 30263
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      0.13 Acres

      Ready-to-Build Lot in Newnan

      Cleared 0.13-acre lot near West Georgia Technical College.
      173 Martin Luther King Dr, Newnan, GA 30263
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    • $139,900
      5.26 Acres

      Residential Land in Newnan, GA

      5.26 acres in Newnan, GA with water and sewer.
      200 W Washington St, Newnan, GA 30263
      View Details
    • $4,000,000
      105.00 Acres

      105 Acres of Stunning Land

      105 acres perfect for development, retreat, or custom home.
      3201 Tommy Lee Cook Rd, Newnan, GA 30263
      View Details

    Similar Nearby for Sale

    • New
      Contact for pricing
      Pending

      Residential Lot in Established Neighborhood

      1.15 acre residential lot in Newnan, Georgia.
      Glenmar Dr, Newnan, GA 30263
      View Details
    • $298,018
      6.01 Acres

      Land Near Downtown Newnan

      6 acres of land, ideal for residential development.
      100 Lovelace St, Newnan, GA 30263
      View Details
    • $159,900
      2.72 Acres

      Newnan Land with Buildable Tracts

      2.721 acre lot near downtown Newnan with road frontage.
      Belk Rd, Newnan, GA 30263
      View Details
    • Contact for pricing
      0.13 Acres

      Ready-to-Build Lot in Newnan

      Cleared 0.13-acre lot near West Georgia Technical College.
      173 Martin Luther King Dr, Newnan, GA 30263
      View Details
    • $139,900
      5.26 Acres

      Residential Land in Newnan, GA

      5.26 acres in Newnan, GA with water and sewer.
      200 W Washington St, Newnan, GA 30263
      View Details
    • $4,000,000
      105.00 Acres

      105 Acres of Stunning Land

      105 acres perfect for development, retreat, or custom home.
      3201 Tommy Lee Cook Rd, Newnan, GA 30263
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Building Near I-85

      Freestanding retail building available for ground lease or build-to-suit.
      784 Bullsboro Dr, Newnan, GA 30263
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    • Contact for pricing
      2,500 SF

      Retail Space in Newnan, GA

      Retail space in a prominent retail district with high visibility.
      1111 Bullsboro Dr, Newnan, GA 30263
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    • Contact for pricing

      Kroger Anchored Shopping Center Space

      Recently renovated shopping center anchored by Kroger and Ollie's.
      50 Bullsboro Dr, Newnan, GA 30263
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    • $2,333 /Mo
      54,000 SF

      Newnan Retail or Office Space

      Retail or office space in bustling Westside Plaza.
      273 Temple Ave, Newnan, GA 30263
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    • $2,900 /Mo
      Pending

      Newnan Office Space For Lease

      Professional office space available in Newnan, Georgia.
      145 Millard Farmer Industrial Blvd, Newnan, GA 30263
      View Details
    • Contact for pricing

      Newnan Industrial Warehouse For Lease

      5,402 SF warehouse with dock doors, convenient location.
      5 Haynie St, Newnan, GA 30263
      View Details
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    51 Pope St
    Newnan, GA 30263
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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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