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Washington St SW - Multifamily Development Opportunity 8.64 Acres of Residential Land Offered at $3,500,000 in Covington, GA 30014
INVESTMENT HIGHLIGHTS
- 30 minutes from Atlanta City limits
- Located in an Opportunity Zone - huge tax advantages
- 56 minutes to Hartsfield-Jackson International
- Zoned in neighborhood mixed use (NM) location
EXECUTIVE SUMMARY
The site features dual frontage—354 feet on Washington Street SW and 217.61 feet on Walnut Street—with potential ingress/egress from both, enhancing accessibility and visibility. Covington, known as the “Hollywood of the South,” has hosted over 200 film and television productions, contributing to a vibrant local economy and cultural appeal. The area is supported by major employers including Rivian Automotive, Takeda Pharmaceuticals, and multiple film studios such as Triple Horse and Cinelease-Three Ring, all of which are driving job creation and population growth.
Nearby amenities include national retailers like Walmart, Kroger, CVS, and Chick-fil-A, as well as Covington Municipal Airport, which supports regional connectivity. The town square offers a walkable mix of restaurants, boutiques, and entertainment, making this site an ideal location for residential development that caters to both workforce and lifestyle renters.
This is a compelling opportunity for developers and investors seeking to participate in Covington’s continued transformation into a regional hub for innovation, entertainment, and community living.
PROPERTY FACTS
| Price | $3,500,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 8.64 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | NM - (Neighborhood Mixed Use) | ||
| Price | $3,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 8.64 AC |
| Opportunity Zone |
Yes |
| Zoning | NM - (Neighborhood Mixed Use) |
1 LOT AVAILABLE
Lot
| Price | $3,500,000 | Lot Size | 8.64 AC |
| Price Per AC | $405,092.59 |
| Price | $3,500,000 |
| Price Per AC | $405,092.59 |
| Lot Size | 8.64 AC |
DESCRIPTION
The subject property in Covington, GA, situated on Washington Street SW, presents a remarkable investment opportunity. This property is located within a Qualified Opportunity Zone, zoned in a neighborhood mixed use (NM) location, and is less than half a mile from Covington's historic town square. This prime real estate offers investors the potential to drive significant investments, job growth, and new business development. Covington's thriving environment is further enhanced by its proximity to the Covington Town Square, bustling with shops, restaurants, and retail options. Renowned as the "Hollywood of the South," Covington boasts over 200 movies and TV productions filmed in its picturesque setting. The property's strategic location, coupled with the tremendous opportunities in Covington's designated zones and its status as a growing hub for entertainment and innovative industries, make it an appealing prospect for forward-thinking investors seeking to shape the town's future. Don't miss out on this extraordinary chance to be part of Covington's dynamic growth story.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $78,160 | Total Assessment | $78,160 |
PROPERTY TAXES
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Washington St SW - Multifamily Development Opportunity
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