Entity Owned Property summary
AI-generated overview
A flex warehouse/office space featuring approximately 500+/- square feet of office area, supported by four dock-high doors and one 16' H x 12' W drive-in door. The warehouse clear ceiling height ranges from 20' to 28', and the space is equipped with a sprinkler system. Electrical service is indicated as 400 amps at 277/480 volts. The property includes a 200' truck court and is zoned light industrial within the City of Covington. The unit is located at 9120 Wheat St NE, Covington, GA 30014, with access and site layout consistent with light industrial use.
Property profile
Verified
Property type
Other warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Construction
STEEL FRAME
Total area
40,000 SF
Lot
1.89 ac (82,328 SF)
Zoning code
I1
APN
C0810-00000-096-B00
UPID
US22-0957822
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gym & Fitness Center
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.92M
CAP Approach
CAP
$4.52M
Comparable Approach
Comparable
$2.83M
Blend (final)
Blend
$3.85M
Owner & transaction history
since 2025
Last sale
$3.3M
7 recorded transactions
Zoning & alternative use
I1 · Covington, GA
Top alternative use upside
Auto repair, garage
$5.0M
+34.2%
Retail stores
$4.4M
+19.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.85M
Value range
$3.47M – $4.24M
±10% around blend
Estimated value / SF
$96 / SF
Confidence
Property data
100
Market benchmarks
100
Comparable evidence
60
$3.47M
blend $3.85M
$4.24M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
40,000 SF
Lot area
1.89 ac
Year built
1996
Stories
1
APN
C0810-00000-096-B00
Zoning
I1
Assessed value
$1,309,120
Annual tax
$42,544
3
Income approach: direct capitalization
Partial preview
Income approach indication
$4.52M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$4.90M
@ 6.5% CAP return
$4.52M
@ 7% CAP return
$4.20M
4
Sales comparison
Partial preview
Sales approach indication
$2.83M
Range $764k – $2.83M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.85M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 28 sales
$93
+3%
Submarket 30 sales
$99
-3%
County 40 sales
$75
+28%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $96/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+34%
vs current-use indication
Retail Stores
Warehouse, Storage · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
7.60%
Implied, in-place cap rate for this other warehouses
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 7.60%
9.0%
NOI (est.)
$231k *
Last sale · Jun 2022
$3.30M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.04M
Move the market yield to see immediate price impact.
Value / SF
$76
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
7.10%7.60%8.10%
$208k
$2.93M
$2.74M
$2.57M
$231k
$3.25M
$3.04M
$2.85M
$254k
$3.58M
$3.34M
$3.14M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$42,544
Tax year 2023
Assessed value
$1,309,120
Assessed 2023
Previous assessed
$1,309,120
+0.0% YoY
Effective rate
3.25%
On assessed value
Assessed land
$36,000
Assessed improvement
$1,273,120
Land market value
$90,000
Improvement market value
$3,182,800
Total market value
$3,272,800
Applied tax rate
2.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
4
Total area
40,000 SF
Lot
1.89 ac (82,328 SF)
Zoning code
I1
APN
C0810-00000-096-B00
UPID
US22-0957822
Jurisdiction
NEWTON
Zoning & alternative use
I1 · Covington, GAZoning I1 · permitted uses
I1 · Covington, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
4
Lot
1.89 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
I1
Jurisdiction
Covington, GA
Recorded code
I1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for I1 in Covington, GA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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