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Property profile & analytics
FOR LEASE
Industrial land
8637 Covington Hwy Lithonia, GA 30058
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US22-1168113
For Lease
1 / 2
$690,000
8637 Covington Hwy, Lithonia, GA 30058
View Listing →
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Total area
2,400 SF
Lot
16.69 ac (727,016 SF)
Zoning code
X
APN
16 202 02 005
UPID
US22-1168113
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$754k
Blend (final)
Blend
$690k
Owner & transaction history
Project Cross LLC · 4 yrs held
Project Cross LLC
since 2022
Last sale
$50,000
3 recorded transactions
Zoning & alternative use
X · Lithonia, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$515,000
+34.1%
Neighborhood: shopping center
$450,000
+17.2%
Medical building
$450,000
+16.9%
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
AUTO REPAIR, GARAGE
$515,000
Change: +34% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$450,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$450,000
Change: +17% · Conversion: Difficult
OFFICE BUILDING
$415,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $50k (Jul 7 2022)
Last sale anchor
$50k
Jul 7 2022
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
$288 / 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
$8,677
Tax year 2024
Assessed value
$197,048
Assessed 2024
Previous assessed
$197,048
+0.0% YoY
Effective rate
4.40%
On assessed value
Assessed land
$197,048
Land market value
$492,620
Total market value
$492,620
Applied tax rate
4.0000
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
For Lease
Heating
NONE
Stories
1
Total area
2,400 SF
Lot
16.69 ac (727,016 SF)
Zoning code
X
APN
16 202 02 005
UPID
US22-1168113
Jurisdiction
DE KALB
Zoning & alternative use
X · Lithonia, GA
Zoning X · permitted uses
X · 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
AUTO REPAIR, GARAGE
Est. value
$515,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$450,000
MEDICAL BUILDING
Est. value
$450,000
OFFICE BUILDING
Est. value
$415,000
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE BUILDING
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
Heating
NONE
Stories
1
Lot
16.69 ac
Current owner
From public records · entity-resolved
Project Cross LLC
Entity
Mailing address
829, LORIDANS DR, NE
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2022
$50,000
Project Cross LLC
Euphoric Ventures LLC
Limited Warranty Deed
$30,533,000 · Servisfirst Bank
Sep 29, 2021
$492,620
Euphoric Ventures LLC
Blj Turner Hill Partners LLC
Limited Warranty Deed
—
Apr 28, 2011
—
Blj Turner Hill Partners LLC
Vangerpen,jay A
Quit Claim Deed
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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