Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    9198 Wheat NE St Covington, GA 30014-1545
    Property profile & analytics

    9198 Wheat NE St, Covington, GA 30014-1545

    View on Map
    • Warehouses
    • 20,000 SF
    • 0.88 lot acres
    Off-Market
    Property ID
    US22-1011125
    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
    $1,180,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 9198 Wheat NE St

    Year built
    2004
    Lot size
    0.88 lot acres
    Zone code
    I3
    Property type
    Warehouses
    APN
    C0810-00000-096-H00
    APU
    C081000000096H00

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 2, 2019 — Jbbettis Properties LLC Bettis,j B Quit Claim Deed · related —
    Nov 7, 2018 $1,000,000 J Brad Bettis Barbara Capes Credit Shel Grant Deed —
    Aug 14, 2018 — Shelter,barbara C C Trust Capes Wheat Street Two LLC Quit Claim Deed · related —
    — — Jerry O Capes — Loan Modification · related $1M · Branch Banking & Trust Co
    — — Capes Wheat Street Two LLC — Deed Of Trust · related $1M · Branch Banking & Trust Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,431,000
      Market price range: $1.04M - $3.60M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,860,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Newton
    State
    Georgia
    Longitude
    -83.8353
    Latitude
    33.6037
    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
    $8,192
    $12,000
    $240,080
    $252,080
    -
    $30,000
    $600,200
    $630,200

    Comparable in this City

    • Value Estimation by Request
      5,000 SF

      8300 Hazelbrand NE Rd

      WAREHOUSE, STORAGE
      8300 Hazelbrand NE Rd, Covington, GA 30014-1503
      View Details
    • Value Estimation by Request
      2,250 SF

      12620 Hwy 278

      WAREHOUSE, STORAGE
      12620 Hwy 278, Covington, GA 30014-1620
      View Details
    • Value Estimation
      $1,545,000
      8,588 SF

      12169 Liberty Dr

      WAREHOUSE, STORAGE
      12169 Liberty Dr, Covington, GA 30014-1097
      View Details
    • Value Estimation by Request
      6,296 SF

      6166 Washington SW St

      WAREHOUSE, STORAGE
      6166 Washington SW St, Covington, GA 30014-2780
      View Details
    • Value Estimation
      $1,155,000
      19,000 SF

      10321 Stanton Spgs Pkwy

      WAREHOUSE, STORAGE
      10321 Stanton Spgs Pkwy, Covington, GA 30014
      View Details
    • Value Estimation by Request
      4,480 SF

      1585 Access Rd

      WAREHOUSE, STORAGE
      1585 Access Rd, Covington, GA 30014-1984
      View Details

    Similar Nearby for Sale

    • $800,000

      Commercial Building Near Downtown Covington

      Multi-tenant building or redevelopment opportunity near downtown Covington, GA.
      4109 Robinson St NW, Covington, GA 30014
      View Details
    • $489,000
      2.55 Acres

      Versatile Shop on Highway 81

      2.55 acre property with custom shop/barn on Highway 81.
      481 Highway 81, Covington, GA 30014
      View Details
    • Contact for pricing

      Covington Industrial Space For Sale

      1,872 sq ft warehouse zoned C-3 in Covington, GA.
      6132 Jackson Hwy SW, Covington, GA 30014
      View Details
    • $749,000

      14 Acres with Shop Building

      14-acre tract with shop and equipment storage near Jersey.
      173 Youth Jersey Rd, Covington, GA 30014
      View Details
    • $1,400,000
      6,000 SF

      Industrial Facility I-20 Visibility

      6,000 SF industrial facility with I-20 corridor visibility.
      1595 Access Rd, Covington, GA 30014
      View Details
    • $1,400,000

      High-Visibility Industrial Facility For Sale

      6,000 SF industrial facility with I-20 visibility in Covington, GA.
      1595 Access Rd, Covington, GA 30014
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr

      Office and Warehouse Space Available

      Flex space with office, warehouse, and dock door access.
      9153 Hazelbrand Rd, Covington, GA 30014
      View Details
    • Contact for pricing
      13,728 SF

      Covington Industrial Building with Visibility

      13,728 SF industrial building with direct I-20 visibility.
      10147 Industrial Dr NE, Covington, GA 30014
      View Details
    • Contact for pricing

      Industrial Outdoor Storage Available

      Industrial outdoor storage with secured, lit, and fenced space.
      1597 Access Rd, Covington, GA 30014
      View Details
    • Contact for pricing
      62,851 SF

      Industrial Warehouse Space Available

      62,851 SF industrial warehouse space for lease.
      14161 Lake Forest Ct, Covington, GA 30014
      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.
    9198 Wheat NE St
    Covington, GA 30014-1545
    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

    Thank You for Inquiry
    9198 Wheat NE St, Covington, GA, 30014
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!