New search
Property profile & analytics
OFF-MARKET
Estimated value
$4,610,000
Drug stores
649 Shallowford NW Rd, Gainesville, GA 30504-4146
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US22-1556226
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2001
Construction
STEEL FRAME
Total area
13,912 SF
Lot
1.61 ac (70,132 SF)
Zoning code
N-B
APN
01-119A-002-009
UPID
US22-1556226
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Tamara Riggleman, PharmD Pharmacy
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Cardtronics ATM Atm
-
Tricia R. Merrick, RPH Pharmacy
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.61M
Owner & transaction history
55 Motor Avenue Co LLC · 3 yrs held
55 Motor Avenue Co LLC
since 2023
Last sale
$4.8M
1 recorded transaction
Zoning & alternative use
N-B · Gainesville, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.3M
+105.4%
Medical building
$2.9M
+37.6%
Commercial (general)
$2.8M
+33.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Gainesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gainesville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,410,000
ML approach
$4,455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$4,295,000
Change: +105% · Conversion: Easy
MEDICAL BUILDING
$2,875,000
Change: +38% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,790,000
Change: +34% · Conversion: Easy
Blend value · Realmo final
$4.61M
Range $4.15M – $5.07M · ±10% · vs last sale $4.79M (Jun 14 2023)
Last sale anchor
$4.79M
Jun 14 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$331 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$28,737
Tax year 2024
Assessed value
$1,003,440
Assessed 2024
Previous assessed
$1,082,120
-7.3% YoY
Effective rate
2.86%
On assessed value
Assessed land
$471,540
Assessed improvement
$531,900
Land market value
$1,178,850
Improvement market value
$1,329,750
Total market value
$2,508,600
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2001
Construction
STEEL FRAME
Heating
YES
Cooling
CENTRAL
Rooms
72
Bathrooms
1
Total area
13,912 SF
Lot
1.61 ac (70,132 SF)
Zoning code
N-B
APN
01-119A-002-009
UPID
US22-1556226
Jurisdiction
HALL
Zoning & alternative use
N-B · Gainesville, GA
Zoning N-B · permitted uses
N-B · Gainesville, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gainesville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$4.3M
MEDICAL BUILDING
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.8M
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Rooms
72
Bathrooms
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
55 Motor Avenue Co LLC
Entity
Free & Clear · 3 yrs held
Mailing address
10 MT MISERY RD, HUNTINGTON, NY 11743-6609
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2023
$4,785,000
55 Motor Avenue Co LLC
Walgreen Co
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 649 Shallowford NW Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
