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    Property profile & analytics

    9 Harmony Grove Rd Lilburn, GA 30047

    • Investment properties
    • 1,272 SF
    • 0.17 lot acres
    For Sale
    View listing
    $850
    Last Sale
    Dec 01, 2023
    $189,000
    Value Estimations
    Cap Rate Potential
    7.2%
    Investment properties
    Location Intelligence
    Property ID
    US22-0822913
    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

    • Mike Daye - Homeland Realty Group - Foresight Real Estate / Real Estate Agency
    • Shaji Fernandez / Real Estate Agency
    • Bisola Shorinola, Homeland Realty Group, LLC. / Real Estate Agent
    • Alex Hachem, Homeland Realty Group, LLC. / Real Estate Agent
    • Maruf Khan, Homeland Realty Group, LLC. / Real Estate Agent

    Property Details for 9 Harmony Grove Rd

    Year built
    1945
    Construction
    WOOD
    Lot size
    0.17 lot acres
    Property size
    1,272 SF
    Zone code
    OI-OFFICE-INSTITUTIONAL
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    6-137 -031
    APU
    6137031

    Description

    This exceptional executive office suite, totaling 205 square feet, presents a fantastic opportunity for a single tenant. Located at 9 Harmony Grove Road, this property boasts a convenient location near the intersection of Lawrenceville Highway and Harmony Grove Road, offering easy access to highways 285 and 85. The suite is situated on a half-acre lot (0.5 acres) within a single-building complex featuring a total of six parking spaces. The building itself is zoned O&I, ensuring flexibility for various professional uses. The property features one suite within the building, making it an ideal space for a small business or individual professional seeking a private and efficient workspace. All utilities are included, simplifying operational costs and maximizing convenience. The property's Asset Parcel Number (APN) is R6137 031. This turnkey solution eliminates the need for extensive setup and allows for immediate occupancy. The strategic location and all-inclusive utility package make this executive office suite a highly desirable and efficient workspace. This is a single-tenant occupancy property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $215,000
      ML approach
      $150,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $260,000
      6.5%
      $240,000
      7%
      $220,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $342,000
      Market price range: $186k - $398k
      AI Estimate
      $224,000
      Market price range: $95.8k - $265k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $285,000
      Current use
      RETAIL STORES
      $345,000
      Change: +21% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $335,000
      Change: +18% Conversion: Difficult
      OFFICE BUILDING
      $310,000
      Change: +9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lilburn
    County
    Gwinnett
    State
    Georgia
    Longitude
    -84.1647
    Latitude
    33.8795
    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
    2023
    $3,353
    $20,400
    $62,800
    $83,200
    -
    $51,000
    $157,000
    $208,000

    Comparable in this City

    • Value Estimation
      $1,070,000
      2,221 SF

      851 Beaver Ruin NW Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,221 SF
      851 Beaver Ruin NW Rd, Lilburn, GA 30047-3405
      View Details
    • Value Estimation
      $270,000
      1,111 SF

      2098 Mcdaniels Brg SW Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,111 SF
      2098 Mcdaniels Brg SW Rd, Lilburn, GA 30047-2544
      View Details
    • Value Estimation
      $280,000
      5,460 SF

      4047 Darling SW Ct

      OFFICE/RESIDENTIAL (MIXED USE) • 5,460 SF
      4047 Darling SW Ct, Lilburn, GA 30047-2354
      View Details
    • Value Estimation
      $275,000
      1,088 SF

      2019 Pucketts SW Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 1,088 SF
      2019 Pucketts SW Dr, Lilburn, GA 30047-5836
      View Details
    • Value Estimation
      $285,000
      1,360 SF

      2058 Pucketts SW Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 1,360 SF
      2058 Pucketts SW Dr, Lilburn, GA 30047-5623
      View Details
    • Value Estimation
      $340,000
      2,187 SF

      465 Beaver Ruin NW Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,187 SF
      465 Beaver Ruin NW Rd, Lilburn, GA 30047-3413
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
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      Retail Space Near Walmart, Home Depot

      Retail space shadow-anchored by Walmart and Home Depot.
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      View Details
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      Office space with level entrance and great visibility for rent.
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      View Details
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    9 Harmony Grove Rd
    Lilburn, GA 30047
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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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