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    Property profile & analytics

    697 W Cherry St Jesup, GA 31545

    • Turn key restaurants
    • 2,000 SF
    • 0.58 lot acres
    For Sale
    View listing
    $400,000
    Last Sale
    May 23, 2023
    $315,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-3412470
    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

    • Nang's Thai Restaurant / Thai Restaurant

    Property Details for 697 W Cherry St

    Year built
    1978
    Lot size
    0.58 lot acres
    Property size
    2,000 SF
    Property type
    Turn key restaurants
    APN
    J18-6
    APU
    J186

    Description

    This exceptional 2,000 square foot restaurant, situated on a 0.58-acre lot at 697 W Cherry Street in the heart of downtown Jesup, Georgia, presents a unique investment opportunity. Currently operating as an established restaurant, this property boasts a highly desirable location with significant foot traffic and easy accessibility. A key advantage is the expansive parking lot, a rare find in a downtown setting, ensuring ample parking for both staff and customers. The fully equipped commercial kitchen is included in the sale, featuring high-quality, well-maintained appliances ready for immediate use. This turnkey operation eliminates the need for extensive renovations or equipment purchases, allowing for a seamless transition for the new owner. The asking price for this thriving business is $399,000. This represents a rare chance to acquire a profitable, established restaurant in a prime downtown location with all the necessary infrastructure in place. The property's combination of location, equipment, and parking makes it an exceptional value in the competitive Jesup commercial market. This is a truly remarkable opportunity for a discerning entrepreneur or restaurateur seeking a ready-to-operate business in a vibrant and accessible location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Jesup
    County
    Wayne
    State
    Georgia
    Longitude
    -81.8901
    Latitude
    31.6102
    CBSA code
    27700
    CBSA name
    JESUP, GA MICROPOLITAN 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
    $3,214
    $13,400
    $77,465
    $90,865
    -
    $33,501
    $193,663
    $227,164

    Comparable in this City

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      1,917 SF

      9859 Lanes Brg Rd

      RESTAURANT • 1,917 SF
      9859 Lanes Brg Rd, Jesup, GA 31545-3437
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      2,220 SF

      74 Walnut St

      RESTAURANT • 2,220 SF
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      1,560 SF

      1347 Pne St

      RESTAURANT • 1,560 SF
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      47 Briar Br Dr

      RESTAURANT • 3,103 SF
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    • Value Estimation by Request
      1,480 SF

      157 Cherry St

      RESTAURANT • 1,480 SF
      157 Cherry St, Jesup, GA 31545
      View Details

    Similar Nearby for Sale

    • $400,000
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      Turnkey Restaurant in Downtown Jesup

      Iconic restaurant for sale in a high-traffic downtown location.
      697 W Cherry St, Jesup, GA 31545
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    • $899,000
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      Turnkey Restaurant Building in Jesup

      Turnkey restaurant in prime location with high visibility and foot traffic.
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    • $895,000
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      Jesup, GA Commercial Building

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    • New
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      Downtown Jesup Commercial Opportunity

      Renovated commercial property in downtown Jesup, suitable for various businesses.
      180 S Macon St, Jesup, GA 31545
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    • $389,000
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      Established Ice Cream Shop For Sale

      Profitable ice cream shop with real estate in downtown Jesup.
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    • $649,000
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      Downtown Jesup Retail Opportunity

      13,100 SF building suitable for retail or commercial use.
      256 N Macon St, Jesup, GA 31545
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    697 W Cherry St
    Jesup, GA 31545
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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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