Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    941 Progress Rd Ellijay, GA 30540-5599
    Back to Search
    Property profile & analytics

    941 Progress Rd, Ellijay, GA 30540-5599

    View on Map
    • Medical Office Space
    • 5,940 SF
    • 0.72 lot acres
    Off-Market
    Last Sale Jan 18, 2022
    $550,000
    Property ID
    US22-2898087
    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
    $550,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Edward Himot / Physician / Medical Clinic
    • Hema Sheelvanth / Physician / Medical Clinic
    • Dr. Akin Ogundipe / Physician / Medical Clinic
    • Samantha Suthar / Physician / Medical Clinic
    • Dr. Vijay Nath / Physician / Medical Clinic

    Property Details for 941 Progress Rd

    Year built
    2002
    Construction
    STEEL FRAME
    Lot size
    0.72 lot acres
    Zone code
    C1
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    3067 015J
    APU
    3067015J

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 18, 2022 $550,000 Link Property Management LLC Jdr Dtd Medical Real Estate Warranty Deed $468k · Renasant Bank
    Apr 10, 2018 — Spring Lizard Investments LLC — Deed · related $366k · South State Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $525,000
      ML approach
      $550,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $850,000
      COMMERCIAL (GENERAL)
      $685,000
      RETAIL STORES
      $505,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Ellijay
    County
    Gilmer
    State
    Georgia
    Longitude
    -84.4903
    Latitude
    34.6735

    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
    $4,110
    $28,000
    $229,000
    $257,000
    -
    $70,000
    $572,500
    $642,500

    Comparable in this City

    • Value Estimation by Request
      3,840 SF

      60 Old Hwy 5th S

      MEDICAL BUILDING
      60 Old Hwy 5th S, Ellijay, GA 30540-5436
      View Details
    • Value Estimation by Request
      1,470 SF

      91 Southside Church St

      MEDICAL BUILDING
      91 Southside Church St, Ellijay, GA 30540-5400
      View Details
    • Value Estimation by Request
      9,740 SF

      28 Southside Church St

      MEDICAL BUILDING
      28 Southside Church St, Ellijay, GA 30540-5409
      View Details
    • Value Estimation by Request
      5,940 SF

      941 Progress Rd

      MEDICAL BUILDING
      941 Progress Rd, Ellijay, GA 30540-5599
      View Details
    • Value Estimation by Request
      12,480 SF

      Cinema Dr

      MEDICAL BUILDING
      Cinema Dr, Ellijay, GA 30540
      View Details
    • Value Estimation
      $4,250,000
      30,276 SF

      822 Industrial Blvd

      MEDICAL BUILDING
      822 Industrial Blvd, Ellijay, GA 30540-3804
      View Details

    Similar Nearby for Sale

    • $119,777
      0.43 Acres

      East Ellijay Commercial Opportunity

      High-visibility commercial lot in East Ellijay with multi-street frontage.
      1St Ave, East Ellijay, GA 30540
      View Details
    • Contact for pricing
      9,128 SF

      Prime Commercial Space on Hwy 515

      Versatile commercial building with high visibility and development potential.
      36 Mulberry St, Ellijay, GA 30540
      View Details
    • $1,250,000
      9,128 SF

      Prime Commercial Space on Hwy 515

      High-visibility commercial building with development potential in Ellijay, GA.
      36 Mulberry St, Ellijay, GA 30540
      View Details
    • Contact for pricing
      80 SF

      Affordable Office Space Available Now

      Quiet, clean office space with utilities and internet included.
      443 Pleasant Grove Rd, Ellijay, GA 30540
      View Details
    • Contact for pricing
      3,766 SF

      Downtown Ellijay Commercial Building

      Commercial building in downtown Ellijay, Georgia, with redevelopment potential.
      45 S Main St, Ellijay, GA 30540
      View Details
    • Contact for pricing

      Downtown Ellijay Dual Income Building

      Charming two-story commercial building in historic downtown Ellijay.
      4 N Side Sq, Ellijay, GA 30540
      View Details

    Similar Nearby for Lease

    • $1,485 /Mo
      1,485 SF

      Versatile Warehouse/Flex Space Available

      Warehouse/flex space for lease in Ellijay's commercial corridor.
      27 Power Sports Dr, Ellijay, GA 30540
      View Details
    • Contact for pricing

      Ellijay Warehouse/Flex Space For Lease

      Versatile warehouse/flex space in Ellijay's growing commercial corridor.
      27 Power Sports Dr, Ellijay, GA 30540
      View Details
    • $1,485 /Mo
      183,388 SF

      Versatile Warehouse/Flex Space Available

      Warehouse/flex space for lease in Ellijay's commercial corridor.
      27 Power Sports Dr, Ellijay, GA 30540
      View Details
    • $4,950 /Mo
      5,940 SF

      Versatile Warehouse/Flex Space in Ellijay

      5,940 SF warehouse/flex space for lease in Ellijay, GA.
      27 Power Sports Dr, Ellijay, GA 30540
      View Details
    • $4,950 /Mo
      183,388 SF

      Versatile Warehouse/Flex Space Available

      5,940 SF warehouse/flex space for lease in Ellijay.
      27 Power Sports Dr, Ellijay, GA 30540
      View Details
    • $3,000 /Mo
      1,908 SF

      Ellijay Commercial Warehouse For Rent

      Versatile warehouse space with highway visibility and ample parking.
      1328 Old Northcutt Rd, Ellijay, GA 30540
      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.
    941 Progress Rd
    Ellijay, GA 30540-5599
    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
    941 Progress Rd, Ellijay, GA, 30540
    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!