2318 Old Cornelia HwyGainesville, GA 30507

  • Retail properties
  • 4,764 SF
For Sale
$3,500,000 View listing

Property Details for 2318 Old Cornelia Hwy

Year built
1990
Lot size
0.74 AC
Property size (Sq ft)
4,764 SF
Property type
Retail properties
Property subtype
Retail space
APN
15-033B-000-037
APU
15033B000037

Description

This exceptional, fee-simple retail property presents a lucrative investment opportunity. Located at 2318 Old Cornelia Hwy, Gainesville, GA 30507, this Class A, 5,000 square foot convenience store and liquor store boasts a prime location off I-985 exit 24, ensuring high visibility and accessibility. The single-story building, constructed in 2000 and extensively renovated in 2021, features 50 parking spaces on a 0.75-acre lot. Currently operating at 100% occupancy with a five-year lease (NNN), the property offers a stabilized investment with a compelling 18% cap rate and a $700 per square foot price. The sale includes both the real estate and the established business, complete with upgraded equipment and coolers. Zoned G-B (General Business), this property is ideal for an owner-user seeking a high-performing, established business with significant growth potential. The property's strong sales history and excellent location make it a rare find in the Gainesville market. Occupancy date is December 28, 2023.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,229,007
    6.5%
    $1,134,468
    7%
    $1,053,434
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,341,750
    Geo Method
    $2,341,750
  • Alternative Use

    Use
    Valuation
    Residential
    $956,966
    Hospitality
    $876,576
    Educational
    $729,301
    Medical
    $754,383
    Retail
    $1,134,468
2318 Old Cornelia Hwy, Gainesville, Georgia

Location Insight

City
Gainesville
County
Hall
State
Georgia
Latitude
34.3136
Longitude
-83.7793
CBSA code
23580
CBSA name
GAINESVILLE, 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
2024
$5,299
$41,880
$143,160
$185,040
-
$104,700
$357,900
$462,600

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