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Property profile & analytics
FOR SALE
Retail space
7173 Covington Hwy Lithonia, GA 30058
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US22-0077862
For Sale
1 / 2
$3,300,000
7173 Covington Hwy, Lithonia, GA 30058
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1969
Construction
WOOD FRAME
Total area
22,000 SF
Lot
2.1 ac (91,476 SF)
Zoning code
M
APN
16 121 03 008
UPID
US22-0077862
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
-
Alloy Welding Co. General Contractor
-
FOOD MART CONVENIENCE STORE Grocery & Convenience Store
-
Dels Kitchen Soul Food Restaurant
-
Salon Moodz Hair Salon Nail Salon
-
Fabuless Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.71M
Blend (final)
Blend
$2.29M
Owner & transaction history
Magicplace LLC · 2 yrs held
Magicplace LLC
since 2024
7 recorded transactions
Zoning & alternative use
M · Lithonia, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lithonia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lithonia 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,680,000
Current use
INDUSTRIAL (GENERAL)
$3,535,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$2.29M
Range $2.06M – $2.52M · ±10%
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
$104 / 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
$36,258
Tax year 2024
Assessed value
$785,360
Assessed 2024
Previous assessed
$442,240
+77.6% YoY
Effective rate
4.62%
On assessed value
Assessed land
$137,200
Assessed improvement
$648,160
Land market value
$343,000
Improvement market value
$1,620,400
Total market value
$1,963,400
Applied tax rate
80.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1969
Construction
WOOD FRAME
Heating
NONE
Cooling
YES
Stories
1
Total area
22,000 SF
Lot
2.1 ac (91,476 SF)
Zoning code
M
APN
16 121 03 008
UPID
US22-0077862
Jurisdiction
DE KALB
Zoning & alternative use
M · Lithonia, GA
Zoning M · permitted uses
M · Lithonia, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lithonia. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.7M
INDUSTRIAL (GENERAL)
Est. value
$3.5M
RETAIL STORES Current
INDUSTRIAL (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
1969
Construction
WOOD FRAME
Heating
NONE
Cooling
Yes
Stories
1
Lot
2.1 ac
Current owner
From public records · entity-resolved
Magicplace LLC
Entity
Free & Clear · 2 yrs held
Mailing address
5075 GOLFBROOK DR, STONE MOUNTAIN, GA 30088-2809
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 12, 2024
—
Mario Marcelo Klein
—
Deed
related
$1,140,000 · Southeast Wholesale And Liquidators
Mar 4, 2024
$610,000
Magicplace LLC
Mimms Robert C Tr
Warranty Deed
—
Dec 3, 2020
$380,000
Jeremy Farlow
Jack L Dodson JR.
Grant Deed
—
Feb 24, 2017
—
Seek First LLC
Mini Mall LLC
Warranty Deed
related
—
Nov 9, 2016
$225,000
Jack L Dodson JR
Changani LLC
Grant Deed
—
Aug 25, 2006
—
Mini Mall LLC
Gray,george E
Grant Deed
related
—
Oct 4, 2004
—
Venture South Dev INC
Quantum Natl Bk
Quit Claim Deed
related
—
Sep 15, 2004
$595,000
George E Gray
Venture South Development INC
Grant Deed
$795,000 · Omni National Bank
—
—
Mini Mall LLC
—
Deed Of Trust
related
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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