Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7535 Covington Hwy Lithonia, GA 30058-7477

    • Strip malls
    • 5,250 SF
    • 0.86 lot acres
    OFF-MARKET
    Value Estimations
    $620,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-4386383
    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

    • Kenneth Worthy: Allstate Insurance / Insurance Agency
    • Form style salon / Hair Salon
    • kinsy Tropical Mart / African Goods Store
    • Corner Convenience / Grocery & Convenience Store
    • Jackson Hewitt Tax Service / Tax Preparation

    Property Details for 7535 Covington Hwy

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.86 lot acres
    Property size
    5,250 SF
    Zone code
    C1
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    16 137 04 012
    APU
    1613704012

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $831,000
      Market price range: $382k - $1.60M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $990,000
      Current use
      MEDICAL BUILDING
      $985,000
      Change: -0% Conversion: Difficult
      OFFICE BUILDING
      $915,000
      Change: -8% Conversion: Moderate
      RETAIL STORES
      $880,000
      Change: -11% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $845,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lithonia
    County
    Dekalb
    State
    Georgia
    Longitude
    -84.1147
    Latitude
    33.7065
    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
    $11,443
    $92,152
    $151,088
    $243,240
    -
    $230,380
    $377,720
    $608,100

    Comparable in this City

    • Value Estimation
      $3,730,000
      23,593 SF

      6766 Covington Hwy

      SHOPPING CENTER, STRIP CENTER • 23,593 SF
      6766 Covington Hwy, Lithonia, GA 30058
      View Details
    • Value Estimation
      $1,850,000
      15,288 SF

      2617 Panola Rd

      SHOPPING CENTER, STRIP CENTER • 15,288 SF
      2617 Panola Rd, Lithonia, GA 30058-4829
      View Details
    • Value Estimation
      $2,640,000
      81,545 SF

      6847 Main St

      SHOPPING CENTER, STRIP CENTER • 81,545 SF
      6847 Main St, Lithonia, GA 30058
      View Details
    • Value Estimation by Request
      9,883 SF

      7525 Covington Hwy

      SHOPPING CENTER, STRIP CENTER • 9,883 SF
      7525 Covington Hwy, Lithonia, GA 30058-7439
      View Details
    • Value Estimation
      $625,000
      5,687 SF

      6658 Hillandale Dr

      SHOPPING CENTER, STRIP CENTER • 5,687 SF
      6658 Hillandale Dr, Lithonia, GA 30058-7615
      View Details
    • Value Estimation
      $1,145,000
      8,548 SF

      2853 Panola Rd

      SHOPPING CENTER, STRIP CENTER • 8,548 SF
      2853 Panola Rd, Lithonia, GA 30058-4844
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,000 SF

      Lithonia Industrial Flex Mini Mall

      20,000 SF mini mall with 16 stores and 3 booths.
      7173 Covington Hwy, Lithonia, GA 30058
      View Details
    • $1,850,000
      17,680 SF

      Commercial Building on Covington Hwy

      Stand-alone commercial building with eight suites in high-traffic area.
      2485 Lithonia Industrial Blvd, Lithonia, GA 30058
      View Details
    • $200,000
      1,400 SF

      Commercial Space in Lithonia, Georgia

      1400 sqft commercial space, previously a restaurant, ready for renovation.
      2546 Rock Chapel Rd, Lithonia, GA 30058
      View Details
    • $749,000

      Retail Building on One Acre

      Retail building with HVAC on one acre for sale.
      2746 Evans Mill Rd, Lithonia, GA 30058
      View Details
    • $1,700,000

      Retail Tire and Service Garage

      Retail tire and service garage 27 miles East of Atlanta.
      6917 Main St, Lithonia, GA 30058
      View Details
    • $99,900
      3.63 Acres

      Lithonia Commercial Land For Sale

      3.63 acre commercial land parcel on Covington Highway.
      6900 Covington Hwy, Lithonia, GA 30058
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      15,000 SF

      Lithonia Retail Strip Center

      10 Suites, 15,000 SF Available
      2410 Dekalb Medical Pkwy, Lithonia, GA 30058
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Rockbridge Square

      1,200 SF retail space for lease in Lithonia, GA.
      7245 Rockbridge Rd SW, Lithonia, GA 30058
      View Details
    • Contact for pricing
      1,286 SF

      Lithonia Retail Outparcel Opportunity

      Prime 0.57-acre site, 1,286 sq ft building.
      452 Deshon Rd, Lithonia, GA 30058
      View Details
    • Contact for pricing
      32,000 SF

      Stone Mountain Industrial Space

      Versatile Manufacturing/Warehouse Space Available
      2374 Stone Mountain Lithonia Rd, Lithonia, GA 30058
      View Details
    • $5 SF/Yr
      120,000 SF

      Lithonia Industrial Space Available

      Multi-use space, 120,000 sqft
      6480 Chupp Rd, Lithonia, GA 30058
      View Details
    • Contact for pricing

      5.5 AC Industrial Outdoor Storage

      5.5 AC industrial land for outdoor storage, fenced and lit.
      2269 Randall Rd, Lithonia, GA 30058
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7535 Covington Hwy
    Lithonia, GA 30058-7477
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!