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    71 Park Ave Griffin, GA 30223
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    71 Park Ave, Griffin, GA 30223

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    • Commercial land
    • 19,200 SF
    For Sale
    $385,000
    View Listing →
    Industrial Building on Two Acres For Sale
    $385,000

    Industrial Building on Two Acres

    19,200 sq. ft. industrial building near downtown Griffin.

    71 Park Ave, Griffin, GA 30223
    View Listing
    Property ID
    US22-2788441
    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

    • Commercial land

    Property Details for 71 Park Ave

    Property type
    Commercial land
    Property subtype
    Mixed-use properties

    Description

    This 19,200 SF, four-sided brick building sits on a fully fenced 2-acre lot and features street water connection with an approved septic permit. Located just outside the Griffin city limits, it’s zoned C-2 (commercial) and R-5 (residential) with Mill Village overlay, offering versatile potential for a range of uses. The property’s it’s septic tank ready and water line ready based on usage. Owners willing to split cost of installation of both and coordinate install Don’t miss this rare, well-positioned site that blends accessibility with flexible zoning in a growing area.

    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
    Griffin
    County
    Spalding
    State
    Georgia
    Longitude
    -84.237114
    Latitude
    33.241325

    Comparable in this City

    • $206,750
      8.83 Acres

      Versatile Land in Spalding County

      8.83 acres with dual road frontage and commercial potential.
      Tract A Newnan Rd, Griffin, GA 30223
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    • $660,000
      17.05 Acres

      Griffin, GA Land Opportunity

      17.05 acres near new Griffin-Spalding County Regional Airport.
      2014 High Falls Rd, Griffin, GA 30223
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    • $385,000

      Industrial Building on Two Acres

      19,200 sq. ft. industrial building near downtown Griffin.
      71 Park Ave, Griffin, GA 30223
      View Details
    • $55,000
      1.01 Acres

      Griffin, GA Commercial Land

      1.01 acre commercial land tract in Griffin, GA for sale.
      2941 Expressway N, Griffin, GA 30223
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    • Contact for pricing

      Buildable Commercial Parcel For Sale

      1.37 acre level parcel zoned for commercial development.
      629 E Mcintosh Rd, Griffin, GA 30223
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    • $351,600
      29.30 Acres

      29 Acres on Highway 155

      29 acres in Spalding County with highway frontage.
      2270 N Mcdonough Rd, Griffin, GA 30223
      View Details

    Similar Nearby for Sale

    • $206,750
      8.83 Acres

      Versatile Land in Spalding County

      8.83 acres with dual road frontage and commercial potential.
      Tract A Newnan Rd, Griffin, GA 30223
      View Details
    • $660,000
      17.05 Acres

      Griffin, GA Land Opportunity

      17.05 acres near new Griffin-Spalding County Regional Airport.
      2014 High Falls Rd, Griffin, GA 30223
      View Details
    • $385,000

      Industrial Building on Two Acres

      19,200 sq. ft. industrial building near downtown Griffin.
      71 Park Ave, Griffin, GA 30223
      View Details
    • $55,000
      1.01 Acres

      Griffin, GA Commercial Land

      1.01 acre commercial land tract in Griffin, GA for sale.
      2941 Expressway N, Griffin, GA 30223
      View Details
    • Contact for pricing

      Buildable Commercial Parcel For Sale

      1.37 acre level parcel zoned for commercial development.
      629 E Mcintosh Rd, Griffin, GA 30223
      View Details
    • $351,600
      29.30 Acres

      29 Acres on Highway 155

      29 acres in Spalding County with highway frontage.
      2270 N Mcdonough Rd, Griffin, GA 30223
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000,000 SF

      Land Available For Lease

      Commercial land available for lease, construction can begin Sept 2022.
      480 Tomochichi Rd, Griffin, GA 30223
      View Details
    • $2,000 /Mo
      69,696 SF

      Griffin Commercial Out Parcels For Lease

      Two commercial out parcels available for lease in Griffin, GA.
      2 Sep Tracts, Griffin, GA 30223
      View Details
    • Contact for pricing
      320,000 SF

      Class A Industrial Development

      Class A industrial development with direct access to I-75.
      193 Jackson Rd, Griffin, GA 30223
      View Details
    • $1,500 /Mo
      1,562 SF

      Downtown Griffin Commercial Space Available

      Conveniently located retail/office/restaurant space in downtown Griffin, GA.
      119 W Solomon St, Griffin, GA 30223
      View Details
    • $3,700 /Mo
      4,712 SF

      Downtown Griffin Upstairs Office Space

      Upstairs office space in downtown Griffin, near courthouse.
      127 E Solomon St, Griffin, GA 30223
      View Details
    • $1,495 /Mo
      1,200 SF

      Griffin Office Space For Rent

      Corner office space in downtown Griffin, 1200 square feet.
      205 E Taylor St, Griffin, GA 30223
      View Details
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    Griffin, GA 30223
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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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