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    947 Sheppard Rd Stone Mountain, GA 30083
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    947 Sheppard Rd Stone Mountain, GA 30083

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    • Commercial land
    For Sale
    $885,000
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    Prime Development Opportunity in Stone Mountain For Sale
    $885,000

    Prime Development Opportunity in Stone Mountain

    5.06-acre assemblage in downtown Stone Mountain, zoned General Commercial.

    947 Sheppard Rd, Stone Mountain, GA 30083
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    Property ID
    US22-4237960
    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

    • Commercial land

    Property Details for 947 Sheppard Rd

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Prime 5.06-Acre Development Opportunity in Historic Downtown Stone Mountain Welcome to 947 Sheppard Road - an exceptional assemblage of three parcels totaling over 5.06 acres, competitively priced at $885,000! Perfectly positioned in the heart of downtown Stone Mountain. Currently zoned General Commercial, this property offers a unique opportunity for visionary builders and developers to pursue rezoning to Residential. While the property is being sold as-is with no participation in rezoning or entitlement by the seller, the City of Stone Mountain Planning Department has previously expressed strong support for residential development at this site. With over 450 feet of road frontage and level topography, this site is primed for development. Utilities are readily accessible: power is already on-site, with water, sewer, gas, and a conveniently located fire hydrant at the street. Two dedicated curb cuts provide easy ingress and egress, enhancing the development potential. Surrounded by a dynamic mix of commercial businesses and residential homes, this property offers the perfect blend of community and connectivity. Just minutes from Stone Mountain Park-renowned for its live performances, family-friendly events, and outdoor attractions-this location also provides quick access to City Hall, retail shops, restaurants, medical offices, schools, and churches. Don't miss this rare opportunity to invest in a growing area with tremendous upside. Shape the future of Stone Mountain Village and bring your development vision to life. For more information or to schedule a private tour, contact: Sonia at 404.617.1910 or Fielding at 770.862.4133.

    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
    Stone Mountain
    County
    DeKalb
    State
    Georgia
    Longitude
    -84.1716207
    Latitude
    33.8011677

    Comparable in this City

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      Land with Development Potential

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      Land Near Shopping, Stone Mountain

      Commercial land in Stone Mountain, near shopping with high foot traffic.
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    • $650,000
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      Land in Stone Mountain, GA

      Commercial land available in Stone Mountain, Georgia.
      5611 Memorial Dr, Stone Mountain, GA 30083
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    • New
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      0.57 Acres

      Commercial Lot in Stone Mountain

      Commercial lot near highways, Stone Mountain Park, and Memorial Drive.
      880 Mountain View Dr, Stone Mountain, GA 30083
      View Details
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      Prime Development Opportunity in Stone Mountain

      4.75-acre site entitled for multi-family and commercial development.
      5706 Memorial Dr, Stone Mountain, GA 30083
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    • $5,300,000

      Stone Mountain Industrial Office/Warehouse

      51,738 SF industrial office/warehouse in Stone Mountain, GA.
      5530 E Ponce De Leon Ave, Stone Mountain, GA 30083
      View Details

    Similar Nearby for Sale

    • New
      $45,000
      0.57 Acres

      Commercial Lot in Stone Mountain

      Commercial lot near highways, Stone Mountain Park, and Memorial Drive.
      880 Mountain View Dr, Stone Mountain, GA 30083
      View Details
    • $650,000
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      Land in Stone Mountain, GA

      Commercial land available in Stone Mountain, Georgia.
      5611 Memorial Dr, Stone Mountain, GA 30083
      View Details
    • $374,900
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      Land with Development Potential

      3.54 acres suitable for various development projects.
      4654 Hope Springs Rd, Stone Mountain, GA 30083
      View Details
    • $58,900
      0.24 Acres

      Land Near Shopping, Stone Mountain

      Commercial land in Stone Mountain, near shopping with high foot traffic.
      405 N Hairston Rd, Stone Mountain, GA 30083
      View Details
    • $1,750,000
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      Prime Development Opportunity in Stone Mountain

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      5706 Memorial Dr, Stone Mountain, GA 30083
      View Details
    • Contact for pricing
      118,829 SF

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    Similar Nearby for Lease

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      Historic Granite Flex Space

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      Retail Space in Busy Center

      Retail vacancy in a high-traffic shopping center.
      5978 Memorial Dr, Stone Mountain, GA 30083
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      Flexible Office Suites For Rent

      Office suites available in accessible, highly visible Stone Mountain location.
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    • Contact for pricing

      Retail Space Near I-285

      Former Walgreens location with high traffic and retail proximity.
      5320 Memorial Dr, Stone Mountain, GA 30083
      View Details
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    Stone Mountain, GA 30083
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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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