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    885 Mullinax Rd Alpharetta, GA 30004
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    885 Mullinax Rd Alpharetta, GA 30004

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    • Land
    Off-Market
    Property ID
    US22-1642511
    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

    • Briarcliff Stables & Pony / Kennel & Boarding Facility / Animal Training

    Property Details for 885 Mullinax Rd

    Property type
    Land

    Description

    Approximately 17.59 acres in great location with road frontage near Denmark High School and close proximity to Halcyon development. All utilities available including sewer. Can possibly be subdivided. Located approximately 2 miles west of Exit 12 - McFarland Road. SHOWN BY APPOINTMENT ONLY! Contact Agent for pricing!

    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
    Alpharetta
    County
    Fulton
    State
    Georgia
    Longitude
    -84.2307235
    Latitude
    34.1395047

    Comparable in this City

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      Alpharetta Land with Pasture

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      Sprawling Estate with Custom Residence

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      Land For Sale in Milton

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      Cherokee County Estate Lot

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      Milton Land Near Golf Course

      10-acre property for custom home with golf course access.
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    Similar Nearby for Sale

    • $725,000
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      Land For Sale Alpharetta

      Land available for sale in Alpharetta, Georgia.
      13890 Cowart Rd, Alpharetta, GA 30004
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    • $2,033,875
      16.27 Acres

      Alpharetta Land with Pasture

      16.27 acre tract with pasture, convenient location.
      17230 Birmingham Hwy, Alpharetta, GA 30004
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    • $5,695,000
      16.27 Acres

      Sprawling Estate with Custom Residence

      16+ acre estate with to-be-built custom residence.
      17230a Birmingham Hwy, Alpharetta, GA 30004
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    • $3,404,750

      Land For Sale in Milton

      Land available in Milton, Georgia.
      14260 Phillips Cir, Milton, GA 30004
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      Alpharetta Acreage with Barn

      3.0141-acre Alpharetta parcel with barn, apartment, and six stalls.
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      Land For Sale in Milton

      Land available in Milton, GA. Use GPS for directions.
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    Similar Nearby for Lease

    • Contact for pricing

      Industrial Shop with Outside Storage

      9,100 SF shop with 2-acre fenced outside storage.
      774 Mcfarland Pkwy, Alpharetta, GA 30004
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    • $24 SF/Yr
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      Alpharetta Warehouse Space For Lease

      Forsyth County industrial warehouse, 1,625 sq ft available.
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      Alpharetta Office Space Available

      Office space available for lease in Alpharetta, Georgia.
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      Office/Warehouse Space For Lease

      Small office and warehouse space available for lease.
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      Office Space in Alpharetta, GA

      Office space available for rent in Alpharetta, Georgia.
      2001 Westside Pkwy, Alpharetta, GA 30004
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      Alpharetta Industrial Space Available

      Industrial property in Alpharetta with drive-in door and three-phase power.
      1370 Union Hill Industrial Ct, Alpharetta, GA 30004
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    885 Mullinax Rd
    Alpharetta, GA 30004
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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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