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

    6163 Hwy 278th NE Covington, GA 30014-2673

    • Strip malls
    • 58,980 SF
    • 8.31 lot acres
    OFF-MARKET
    Last Sale
    Aug 16, 2022
    $2,800,000
    Value Estimations
    $2,825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2605865
    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

    • Strip malls

    Property Details for 6163 Hwy 278th NE

    Year built
    1973
    Construction
    STEEL FRAME
    Lot size
    8.31 lot acres
    Property size
    58,980 SF
    Zone code
    C1
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    C0060-00020-004-000
    APU
    C006000020004000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,525,000
      ML approach
      $2,870,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,820,000
      WAREHOUSE, STORAGE
      $2,640,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Newton
    State
    Georgia
    Longitude
    -83.8415
    Latitude
    33.6028
    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
    $41,765
    $538,480
    $575,320
    $1,113,800
    -
    $1,346,200
    $1,438,300
    $2,784,500

    Comparable in this City

    • Value Estimation
      $7,965,000
      61,804 SF

      3157 Elm NE St

      SHOPPING CENTER, STRIP CENTER • 61,804 SF
      3157 Elm NE St, Covington, GA 30014-2466
      View Details
    • Value Estimation
      $1,600,000
      11,805 SF

      10255 Industrial NE Blvd

      SHOPPING CENTER, STRIP CENTER • 11,805 SF
      10255 Industrial NE Blvd, Covington, GA 30014-6323
      View Details
    • Value Estimation
      $8,905,000
      68,360 SF

      9176 Hwy 278th NE

      SHOPPING CENTER, STRIP CENTER • 68,360 SF
      9176 Hwy 278th NE, Covington, GA 30014-7023
      View Details
    • Value Estimation
      $33,070,000
      262,792 SF

      3139 Hwy 278th NE

      SHOPPING CENTER, STRIP CENTER • 262,792 SF
      3139 Hwy 278th NE, Covington, GA 30014-2301
      View Details
    • Value Estimation
      $2,600,000
      54,759 SF

      2125 Pace St

      SHOPPING CENTER, STRIP CENTER • 54,759 SF
      2125 Pace St, Covington, GA 30014-6659
      View Details
    • Value Estimation
      $9,505,000
      73,624 SF

      7121 Turner Lk NW Rd

      SHOPPING CENTER, STRIP CENTER • 73,624 SF
      7121 Turner Lk NW Rd, Covington, GA 30014-2066
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,500 SF

      Multi-Tenant Pad Building in Covington

      100% leased, three-tenant building near Walmart and Home Depot.
      10373 Industrial Blvd, Covington, GA 30014
      View Details
    • $325,000
      2.08 Acres

      Covington, GA Commercial Land - $325K

      Prime 2.08-acre commercial lot. High traffic, Hwy 36 frontage.
      10717 Hwy 36 Hwy, Covington, GA 30014
      View Details
    • $3,000,000

      Profitable Tire Shop Business Included

      Operating tire shop with building, inventory, equipment, and land.
      6166 Washington St, Covington, GA 30014
      View Details
    • $1,670,000
      12,847 SF

      Covington Storefront Redevelopment

      Historic Downtown Retail Opportunity
      1145 Clark St, Covington, GA 30014
      View Details
    • $1,350,000
      1,775 SF

      Retail Property on Highway 278

      Retail space available for purchase on Highway 278.
      8225 Highway 278 NE, Covington, GA 30014
      View Details
    • Contact for pricing

      Covington, GA Commercial Land Opportunity

      Prime 25-acre commercial tract near I-20.
      10055 Eagle Dr, Covington, GA 30014
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Outdoor Storage Available

      Industrial outdoor storage with secured, lit, and fenced space.
      1597 Access Rd, Covington, GA 30014
      View Details
    • Contact for pricing
      19,200 SF

      Jackson Market: Covington Retail Space

      High-traffic retail space, flexible layouts.
      4115 Highway 278, Covington, GA 30014
      View Details
    • $3,500 /Mo
      3,000 SF

      Versatile Commercial Space in Covington

      Adaptable commercial building suitable for various business needs.
      3143 NE Mill St, Covington, GA 30014
      View Details
    • Contact for pricing
      13,728 SF

      Covington Industrial Building with Visibility

      13,728 SF industrial building with direct I-20 visibility.
      10147 Industrial Dr NE, Covington, GA 30014
      View Details
    • $9 SF/Yr
      8,400 SF

      Office and Warehouse Space Available

      Flex space with office, warehouse, and dock door access.
      Covington, GA 30014
      View Details
    • New
      $3,000 /Mo
      3,000 SF

      Versatile Commercial Space in Covington

      3,000 sq ft commercial space suitable for office and warehouse.
      8125 Industrial Way NE, Covington, GA 30014
      View Details
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    6163 Hwy 278th NE
    Covington, GA 30014-2673
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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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