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    6116 Covington Hwy Lithonia, GA 30058-8380
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    Property profile & analytics

    6116 Covington Hwy Lithonia, GA 30058-8380

    View on Map
    • Community centers
    • 7,600 SF
    • 15.63 lot acres
    Off-Market
    Last Sale Feb 22, 2023
    $12,022,893
    Property ID
    US22-4741144
    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

    • Jazzy Juice Cafe / Specialty Food Shop / (Bike/Boat/Book/etc) Store
    • Tip-Top Cleaners / (Bike/Boat/Book/etc) Store
    • Majesty Majesty Sweet Desserts & Creamery Parlor / Grocery & Convenience Store / Specialty Food Shop
    • Jazzy Juice / Specialty Food Shop / (Bike/Boat/Book/etc) Store
    • Subway / Take-out & Catering

    Property Details for 6116 Covington Hwy

    Year built
    1988
    Lot size
    15.63 lot acres
    Property size
    7,600 SF
    Zone code
    C-1
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    16 039 01 005
    APU
    1603901005

    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
    Lithonia
    County
    Dekalb
    State
    Georgia
    Longitude
    -84.165
    Latitude
    33.7243
    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
    $263,164
    $489,480
    $4,883,880
    $5,373,360
    -
    $1,223,700
    $12,209,700
    $13,433,400

    Comparable in this City

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      144,585 SF

      6152 Covington Hwy

      Lifestyle centers • 144,585 SF
      6152 Covington Hwy, Lithonia, GA 30058
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    • Value Estimation by Request
      144,585 SF

      6152 Covington Hwy

      Lifestyle centers • 144,585 SF
      6152 Covington Hwy, Lithonia, GA 30058
      View Details
    • Value Estimation
      $3,730,000
      23,593 SF

      6766 Covington Hwy

      SHOPPING CENTER, STRIP CENTER • 23,593 SF
      6766 Covington Hwy, Lithonia, GA 30058
      View Details
    • Value Estimation
      $1,850,000
      15,288 SF

      2617 Panola Rd

      SHOPPING CENTER, STRIP CENTER • 15,288 SF
      2617 Panola Rd, Lithonia, GA 30058-4829
      View Details
    • Value Estimation
      $1,465,000
      9,100 SF

      2245 Rock Chapel Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 9,100 SF
      2245 Rock Chapel Rd, Lithonia, GA 30058-5132
      View Details
    • Value Estimation by Request
      9,883 SF

      7525 Covington Hwy

      SHOPPING CENTER, STRIP CENTER • 9,883 SF
      7525 Covington Hwy, Lithonia, GA 30058-7439
      View Details

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      Commercial Building on Covington Hwy

      Stand-alone commercial building with eight suites in high-traffic area.
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      Retail building with HVAC on one acre for sale.
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    • $200,000
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      Commercial Space in Lithonia, Georgia

      1400 sqft commercial space, previously a restaurant, ready for renovation.
      2546 Rock Chapel Rd, Lithonia, GA 30058
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      9,715 SF

      Freestanding Building on 2 Acres

      9,715 SF building on 2 AC lot for sale.
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      Commercial Property in Historic Lithonia

      Commercial property in Lithonia's Historic Downtown, ideal for offices/restaurants.
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    Similar Nearby for Lease

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      1,200 SF

      Retail Space in Rockbridge Square

      1,200 SF retail space for lease in Lithonia, GA.
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      Retail Space For Rent

      Retail space available for lease.
      2410 Dekalb Medical Pkwy, Lithonia, GA 30058
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      Lithonia Flex Space For Lease

      Industrial/Warehouse flex space available for lease in Lithonia, Georgia.
      6480 Chupp Rd, Lithonia, GA 30058
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    • Contact for pricing

      5.5 AC Industrial Outdoor Storage

      5.5 AC industrial land for outdoor storage, fenced and lit.
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      Industrial Single Tenant Opportunity

      Single tenant industrial space available for lease.
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    • Contact for pricing
      7,831 SF

      Industrial Property with Outside Storage

      Industrial building with outside storage and fenced yard for lease.
      6523 Marbut Rd, Lithonia, GA 30058
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    Lithonia, GA 30058-8380
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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.

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