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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6024 Covington Hwy Decatur, GA 30035-3801

    • Car washes
    • 4,590 SF
    • 1.71 lot acres
    OFF-MARKET
    Last Sale
    Sep 30, 2022
    $1,175,000
    Value Estimations
    $1,060,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-0860784
    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

    • Big Dan's Car Wash / Car Wash

    Property Details for 6024 Covington Hwy

    Year built
    2023
    Lot size
    1.71 lot acres
    Property size
    4,590 SF
    Zone code
    C-1
    Property type
    Car washes
    APN
    16 039 04 034
    APU
    1603904034

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $965,000
      ML approach
      $920,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,210,000
      Current use
      OFFICE BUILDING
      $1,165,000
      Change: -4% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,115,000
      Change: -8% Conversion: Moderate
      RETAIL STORES
      $1,070,000
      Change: -12% Conversion: Difficult
      MEDICAL BUILDING
      $1,065,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Dekalb
    State
    Georgia
    Longitude
    -84.1717
    Latitude
    33.7242
    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
    2024
    $77,286
    $596,080
    $1,137,360
    $1,733,440
    -
    $1,490,200
    $2,843,400
    $4,333,600

    Comparable in this City

    • Value Estimation by Request
      3,456 SF

      4947 Covington Hwy

      CAR WASH - AUTOMATED • 3,456 SF
      4947 Covington Hwy, Decatur, GA 30035-2016
      View Details
    • Value Estimation by Request
      4,169 SF

      5501 Covington Hwy

      CAR WASH - AUTOMATED • 4,169 SF
      5501 Covington Hwy, Decatur, GA 30035-3602
      View Details
    • Value Estimation by Request
      3,194 SF

      5418 Covington Hwy

      CAR WASH - AUTOMATED • 3,194 SF
      5418 Covington Hwy, Decatur, GA 30035-2516
      View Details
    • Value Estimation
      $1,790,000
      2,284 SF

      2544 Wesley Chapel Rd

      AUTO REPAIR, GARAGE • 2,284 SF
      2544 Wesley Chapel Rd, Decatur, GA 30035-3405
      View Details
    • Value Estimation
      $1,155,000
      13,070 SF

      5449 Covington Hwy

      AUTO REPAIR, GARAGE • 13,070 SF
      5449 Covington Hwy, Decatur, GA 30035-2501
      View Details
    • Value Estimation
      $595,000
      14,176 SF

      4373 New Snapfinger Woods Dr

      AUTO REPAIR, GARAGE • 14,176 SF
      4373 New Snapfinger Woods Dr, Decatur, GA 30035-2920
      View Details

    Similar Nearby for Sale

    • $900,000
      10,308 SF

      Decatur Commercial Property For Sale

      Operating auto shop with multiple income streams on large lot.
      5344 Covington Hwy, Decatur, GA 30035
      View Details
    • Contact for pricing

      Retail Pad Site For Sale

      0.415 acre retail pad site in high growth corridor.
      6038 Covington Hwy, Decatur, GA 30035
      View Details
    • $1,800,000
      1,546 SF

      Prime Commercial Opportunity on Covington Highway

      2.5 acres with high visibility and road frontage.
      5907 Covington Hwy, Decatur, GA 30035
      View Details
    • Contact for pricing
      42.35 Acres

      Decatur, GA Townhome Development Site

      42.35 Acres, I-20 Corridor, TOD
      4632 Snapfinger Woods Dr, Decatur, GA 30035
      View Details
    • $215,000
      1,620 SF

      Spacious Townhouse with Two-Story Living

      Oversized 2BR/2.5BA townhouse with impressive living room and private balcony.
      1830 Broadway St, Decatur, GA 30035
      View Details
    • $2,200,000
      Pending

      Decatur Commercial Land For Sale

      5.9 acre commercial land parcel in Decatur, Georgia.
      5000 Snapfinger Woods Dr, Decatur, GA 30035
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo
      51,836 SF

      Turn-key Auto Shop Opportunity

      Operating auto shop for lease in high-traffic Decatur corridor.
      6063 Covington Hwy, Decatur, GA 30035
      View Details
    • Contact for pricing
      1,425 SF

      Prime Decatur Retail Opportunity

      1,425 SF Restaurant, 0.39 Acres
      4906 Covington Hwy, Decatur, GA 30035
      View Details
    • $18 SF/Yr
      1,200 SF

      Snapfinger Retail Space For Lease

      Prime Dekalb County retail space available.
      4943 Snapfinger Woods Dr, Decatur, GA 30035
      View Details
    • Contact for pricing
      67,940 SF

      Hidden Hills Village Retail Space

      Decatur, GA retail space available.
      5402 Covington Hwy, Decatur, GA 30035
      View Details
    • Contact for pricing
      10,193 SF

      Retail Space Near Pep Boys

      Retail space with prime exposure and ample parking available for rent.
      2059 S Hairston Rd, Decatur, GA 30035
      View Details
    • Contact for pricing
      22,070 SF

      Prime Manufacturing Space Available

      22,070 SF Industrial Building, I-20 Access
      5365 Dividend Dr, Decatur, GA 30035
      View Details
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    Decatur, GA 30035-3801
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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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