561 Grayson HwyLawrenceville, GA 30046

  • Investment properties
  • 1,998 SF
For Sale
$459,000 View listing

Property Details for 561 Grayson Hwy

Year built
1973
Construction
WOOD
Lot size
0.52 AC
Property size (Sq ft)
1,998 SF
Zone code
BG-GENERAL BUSINESS
Property type
Investment properties
Property subtype
Live-work space
APN
5-141 -175
APU
5141175

Description

This prime Lawrenceville, GA commercial property, located at 561 Grayson Hwy, offers 1,998 square feet across two units on a 0.52-acre lot (APN R5141 175). The building, constructed in 1973 and renovated in 2018, boasts a modern, fully-bricked exterior. Zoned O/I (Office/Institutional), it's ideal for various commercial uses, including medical and professional offices. One unit features a renovated open floor plan with hardwood floors and modern amenities, while the other is ready for customization. The property includes a fully paved front parking lot and a fenced rear area offering expansion potential. With excellent visibility and accessibility on busy Grayson Highway, near major retailers and residential areas, this property presents a strong investment opportunity. The asking price is $459,000 ($229.73/sq ft, $229,500/unit), with a pro-forma NOI of $42,000 and a pro-forma cap rate of 9.15%. Occupancy is available August 7, 2024. This is an owner/user investment opportunity.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $350,639
    6.5%
    $323,667
    7%
    $300,548
  • Comparable approach

    Method
    Valuation
    Relative Method
    $233,080
    Geo Method
    $233,080
  • Alternative Use

    Use
    Valuation
    Residential
    $401,347
    Hospitality
    $367,632
    Educational
    $305,865
    Medical
    $316,385
    Retail
    $475,791

Location Insight

City
Lawrenceville
County
Gwinnett
State
Georgia
Latitude
33.9368
Longitude
-83.9806
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
$4,006
$71,080
$53,720
$124,800
-
$177,700
$134,300
$312,000

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