2318 Old Cornelia HwyGainesville, GA 30507

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 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.

• 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

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