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

    650 Grv Rd Locust Grove, GA 30248

    • Strip malls
    • 6,000 SF
    • 2.71 lot acres
    OFF-MARKET
    Last Sale
    Aug 16, 2022
    $2,300,000
    Value Estimations
    $1,755,000
    Show details
    Cap Rate Potential
    4.7%
    Strip malls
    Location Intelligence
    Property ID
    US22-2622364
    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 650 Grv Rd

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    2.71 lot acres
    Property size
    6,000 SF
    Zone code
    C1
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    146B01045004
    APU
    146B01045004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,040,000
      ML approach
      $2,090,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,605,000
      6.5%
      $1,485,000
      7%
      $1,375,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,430,000
      Market price range: $595k - $1.43M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,235,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Locust Grove
    County
    Henry
    State
    Georgia
    Longitude
    -84.0918
    Latitude
    33.3503
    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
    $16,992
    $141,920
    $319,240
    $461,160
    -
    $354,800
    $798,100
    $1,152,900

    Comparable in this City

    • Value Estimation
      $410,000
      6,262 SF

      4120 Hwy 42nd S

      REGIONAL SHOPPING CENTER, MALL • 6,262 SF
      4120 Hwy 42nd S, Locust Grove, GA 30248-4106
      View Details
    • Value Estimation
      $4,145,000
      8,364 SF

      680 Market Pl

      REGIONAL SHOPPING CENTER, MALL • 8,364 SF
      680 Market Pl, Locust Grove, GA 30248-3762
      View Details
    • Value Estimation
      $395,000
      9,344 SF

      4627 Bill Gardner Pkwy, Unit 4653

      REGIONAL SHOPPING CENTER, MALL • 9,344 SF
      4627 Bill Gardner Pkwy, Locust Grove, GA 30248-2437
      View Details
    • Value Estimation
      $545,000
      15,600 SF

      501 Stanley K Tanger Blvd

      REGIONAL SHOPPING CENTER, MALL • 15,600 SF
      501 Stanley K Tanger Blvd, Locust Grove, GA 30248-3751
      View Details
    • Value Estimation
      $1,100,000
      276,348 SF

      1000 Tanger Dr

      REGIONAL SHOPPING CENTER, MALL • 276,348 SF
      1000 Tanger Dr, Locust Grove, GA 30248-3654
      View Details
    • Value Estimation
      $3,495,000
      12,922 SF

      4955 Bill Gardner Pkwy

      REGIONAL SHOPPING CENTER, MALL • 12,922 SF
      4955 Bill Gardner Pkwy, Locust Grove, GA 30248-2916
      View Details

    Similar Nearby for Sale

    • $375,000
      1,740 SF

      Locust Grove Commercial Building For Sale

      1,740 SF commercial building suitable for events or retail.
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    • $3,622,500
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      Locust Grove Development Opportunity

      17 Acres, Multifamily Zoning, 207 Units
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    • Contact for pricing
      30.00 Acres

      Prime Locust Grove Commercial Land

      30 Acres, General Commercial Zoning
      0 Tanger Blvd, Locust Grove, GA 30248
      View Details
    • $239,000
      15.00 Acres

      15 Acres Wooded Residential Land

      15-acre wooded lot near Metro Atlanta, ideal for development.
      Sipka Rd, Locust Grove, GA 30248
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    • $84,000
      4.75 Acres

      Locust Grove Acreage with Creek

      Wooded 4.75-acre property near Locust Grove amenities.
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    • $2,626,325
      117.17 Acres

      Locust Grove Land For Sale

      117+ acre land with road and creek frontage.
      721 Hosannah Rd, Locust Grove, GA 30248
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Locust Grove Retail Center

      New Retail Space, Prime Location
      595 Market Pl Blvd, Locust Grove, GA 30248
      View Details
    • Contact for pricing
      8,800 SF

      Locust Grove Retail Center - New!

      Prime Retail Space, 8,800 SF, 2 Acres
      4939 Bill Gardner Pkwy, Locust Grove, GA 30248
      View Details
    • Contact for pricing
      154,700 SF

      Locust Grove Retail Center

      Prime Retail Space, Henry County, GA
      2642-2867 Highway 155, Locust Grove, GA 30248
      View Details
    • Contact for pricing

      Locust Grove Retail Opportunity

      Retail and restaurant space for lease near Tanger Outlets.
      4518 Highway 42, Locust Grove, GA 30248
      View Details
    • Contact for pricing
      903,701 SF

      Stonemont Park 75 South: Class A Warehouses

      Locust Grove, GA: New Class A industrial space.
      0 Pne Grv Rd, Locust Grove, GA 30248
      View Details
    • Contact for pricing
      530,000 SF

      Majestic Southern Gateway: Building #2

      530,000 SF Industrial Space for Lease
      42 And Bethlehem Rd, Locust Grove, GA 30248
      View Details
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    650 Grv Rd
    Locust Grove, GA 30248
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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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