Land in Coweta County
When people discuss real estate, we often think and talk about residential real estate and homes. That is a significant part of real estate, but does not cover it all.
Land, commercial, and multifamily are all important sectors of real estate. Land has been a hot topic of discussion in Coweta County lately. Land prices here are the highest they have ever been. Between data centers, residential and commercial developments, and large homes on acreage, land in our county is in high demand!
Our office has been part of some large land deals this year. We had a 240-unit multifamily deal in South Fulton, Fairburn, bringing $350,000 an acre for raw land. Another home in northeast Coweta, on 25 acres, sold for over $1,500,000 to a home builder and developer that plans to build high-end homes on the property. South Coweta, particularly the Moreland area, is also highly desirable. We sold a beautiful custom home on 50 acres for over $1,500,000 in south Moreland.
All these transactions are different examples of different types of buyers purchasing land and homes on acreage. But the hottest topic right now is data centers. These data center companies pay substantial prices for land as the real estate purchase is only a small part of their developmental costs. 505.49 +/- acres sold on Welcome to Sargent Rd in rural west Coweta sold for $6,500,000 in 2024 per the Coweta County Tax Assessor.
This is part of the location of the contentious Project Sail development. This is a huge transaction in Coweta County, but when you consider the scale and cost of a $17 billion data center development, you wonder if the seller could have received more for the land? The sale, on this tax parcel, comes out to almost $13,000 an acre, which is slightly above market for raw land in that area, especially with a large power easement occupying usable land on the property.
Our office was part of another large land sale back in 2024. This property would go on to be part of the proposed Project Oak data center site just a couple years later. 847 Walt Sanders Rd in North Newnan sold for $10,504,040 or over $41,000 an acre on May 9th, 2024.
I don’t know if this buyer had a data center in mind when they purchased this tract, but these data center developers are eying properties like this across Coweta County. The commissioners of Coweta County approved a 180-day data center moratorium at their June 16th meeting. The moratorium will allow the commissioners and staff to review their data center ordinance. I don’t see the demand for data centers in our county going anywhere, however, especially when the developers can offer landowners huge prices.
Jess Barron is an Associate Broker with Lindsey’s Inc. Realtors and former President of the Newnan-Coweta Board of Realtors.
