406 Solomon StGriffin, GA 30223

Property Details for 406 Solomon St

Year built

1947

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.20 AC

Property size (Sq ft)

858 SF

Zone code

CBD

Property type

Office buildings

APN

018 -47-001

APU

1847001

Description

This exceptional 858-square-foot commercial building is situated in Griffin, Georgia's revitalized downtown area, offering unparalleled convenience and visibility. Located at 406 E Solomon Street, the property boasts a prime location just steps from thriving shops and restaurants, ensuring high foot traffic and excellent exposure for any business. The building itself is incredibly versatile, suitable for a wide range of commercial uses, from a charming cafe or boutique to a professional office space. The interior features two separate bathrooms, adding to its functionality and appeal. Adding to the property's charm is an attached, covered deck, providing an outdoor space ideal for customer interaction or employee breaks. This presents a unique opportunity for expansion or synergy with adjacent properties. The property sits on a 0.2-acre lot, and three additional adjacent lots are also available for purchase, providing significant potential for future growth and development. Priced at $229,000, this property represents a compelling investment opportunity in a rapidly growing business district. The combination of location, versatility, and expansion potential makes this an exceptional offering for discerning investors seeking a foothold in Griffin's vibrant downtown scene. Don't miss this chance to secure a piece of Griffin's thriving commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $109,132

  6.5%

  $100,738

  7%

  $93,542

• Comparable approach

  Method

  Valuation

  Relative Method

  $167,361

  Geo Method

  $167,361

• Alternative Use

  Use

  Valuation

  Residential Income

  $124,915

  Hospitality / Lodging

  $114,421

  Institutional / Educational

  $95,197

  Healthcare / Senior Housing

  $98,471

  Retail / Commercial

  $148,084

Location Insight

City

Griffin

County

Spalding

State

Georgia

Latitude

33.2483

Longitude

-84.2586

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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