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    Property profile & analytics

    Myrtle, Unit CT Cornelia, GA 30531

    • Garden apartment buildings
    • 4,200 SF
    • 0.87 lot acres
    OFF-MARKET
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-3759690
    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

    • Garden apartment buildings

    Property Details for Myrtle

    Year built
    1985
    Construction
    FRAME
    Lot size
    0.87 lot acres
    Property size
    4,200 SF
    Zone code
    R1A
    Property type
    Garden apartment buildings
    APN
    087B023
    APU
    087B023

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $339,000
      Market price range: $339k - $681k

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

    Location Insight

    • Map
    • Local Demand
    City
    Cornelia
    County
    Habersham
    State
    Georgia
    Longitude
    -83.5295
    Latitude
    34.5219
    CBSA code
    18460
    CBSA name
    CORNELIA, GA MICROPOLITAN 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
    2024
    $2,608
    $16,756
    $83,740
    $100,496
    -
    $41,890
    $209,350
    $251,240

    Comparable in this City

    • Value Estimation
      $335,000
      3,364 SF

      Grier St

      GARDEN APT, COURT APT (5+ UNITS) • 3,364 SF
      Grier St, Cornelia, GA 30531
      View Details
    • Value Estimation
      $500,000
      4,004 SF

      361 Old Level Grv Rd

      GARDEN APT, COURT APT (5+ UNITS) • 4,004 SF
      361 Old Level Grv Rd, Cornelia, GA 30531-5786
      View Details
    • Value Estimation
      $370,000
      10,152 SF

      Berry Ct Apts Ct

      GARDEN APT, COURT APT (5+ UNITS) • 10,152 SF
      Berry Ct Apts Ct, Cornelia, GA 30531
      View Details
    • Value Estimation
      $420,000
      2,800 SF

      Cornelia Gdn Crk

      GARDEN APT, COURT APT (5+ UNITS) • 2,800 SF
      Cornelia Gdn Crk, Cornelia, GA 30531
      View Details
    • Value Estimation
      $400,000
      2,455 SF

      Straight St

      GARDEN APT, COURT APT (5+ UNITS) • 2,455 SF
      Straight St, Cornelia, GA 30531
      View Details
    • Value Estimation by Request
      15,184 SF

      101 Mnr Pl Dr

      GARDEN APT, COURT APT (5+ UNITS) • 15,184 SF
      101 Mnr Pl Dr, Cornelia, GA 30531-4243
      View Details

    Similar Nearby for Sale

    • $99,000
      0.25 Acres

      Multifamily-Zoned Land in Downtown Cornelia

      Multifamily-zoned property in revitalizing downtown Cornelia, near Highway 365/985.
      Irvin St, Cornelia, GA 30531
      View Details
    • $750,000
      10.83 Acres

      Cornelia Commercial Land - 10 Acres

      High-visibility commercial land, ideal for development.
      4444 State Hwy, Cornelia, GA 30531
      View Details
    • $350,000
      4,553 SF

      Downtown Cornelia Commercial Building For Sale

      Versatile commercial building in downtown Cornelia with office space.
      228 N Main St, Cornelia, GA 30531
      View Details
    • $790,000
      4,992 SF

      Versatile Commercial Space in Cornelia

      Expansive 4,992 SF commercial space suitable for various business needs.
      121 Midway Dr, Cornelia, GA 30531
      View Details
    • $350,000
      4,553 SF

      Downtown Cornelia Commercial Building For Sale

      Versatile commercial building in downtown Cornelia with office space.
      228 N Main St, Cornelia, GA 30531
      View Details
    • $380,000
      4,000 SF

      Cornelia Commercial Property with Expansion

      4,000 SF commercial building with expansion potential in Cornelia, GA.
      144 Commerce Pkwy, Cornelia, GA 30531
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,800 SF

      Shoppes at Cornelia Retail Space

      Prime Retail Space, 1800 sq ft, High Traffic
      250 Furniture Dr, Cornelia, GA 30531
      View Details
    • Contact for pricing
      1,750 SF

      Retail Space in Cornelia, Georgia

      Retail space with national co-tenancy and high visibility.
      216 Carpenters Cove Ln, Cornelia, GA 30531
      View Details
    • Contact for pricing
      2,500 SF

      Office Space in Cornelia, Georgia

      Office space available for rent, totaling 2,500 square feet.
      264 Stapleton Rd, Cornelia, GA 30531
      View Details
    • $5 SF/Yr
      5,100 SF

      Industrial Space Available for Lease

      5,100 SF industrial property available for lease.
      997 Airport Rd W, Cornelia, GA 30531
      View Details
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    Myrtle, Unit CT
    Cornelia, GA 30531
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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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