2318 Old Cornelia HwyGainesville, GA 30507
- Retail properties
- 4,764 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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