Spa & Wellness Property with
For Sale
$249,000
110 W Adair St, Valdosta, GA 31601
Commercial Sale, Valdosta, GA
Property Size2,262 SF
Lot Size0.21 Acres
Price / SF$110.08
Days on Market39
Property Features for 110 W Adair St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-P
Subdivision
Slater, Ashley
Standard status
Active
APN
0118A 076
Size
2,262 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
in listing office
Tax Annual Amount
1863
Legal Description
in listing office
Listing Agency:
COLDWELL BANKER PREMIER REAL E
(229) 244-3535
Listed By:
John Courson · License #342868
(229) 251-4632
Added: Jul 23
Changed: Aug 20
Last Checked: Aug 30 at 1:06PM
MLS# 154470
Copyright © 2026 South Georgia MLS (Valdosta). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 110 W Adair St in Valdosta, this 2,262-square-foot property occupies a 0.21-acre lot and combines a historic residence-style building with a commercial interior layout. The structure contains six rooms and three bathrooms, along with a detached 400-square-foot garage. Its configuration includes two private spa suites and a salon area arranged for two styling stations.
The property is zoned R-P, and the existing commercial use is permitted. The layout has supported four to five independent professionals, with month-to-month occupancy by two spa professionals and two hairstylists. The space can continue serving wellness and personal-care operators or be adapted for another professional-service use. Salon equipment and fixtures are excluded from the sale but may be purchased separately.
The property is zoned R-P, and the existing commercial use is permitted. The layout has supported four to five independent professionals, with month-to-month occupancy by two spa professionals and two hairstylists. The space can continue serving wellness and personal-care operators or be adapted for another professional-service use. Salon equipment and fixtures are excluded from the sale but may be purchased separately.
Key Highlights
- 2,262 SF building on a 0.21‑acre lot
- Six rooms and three bathrooms in the main building
- Two private spa suites plus a two‑chair salon
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,467
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$349,340
$349.3K
Cap Rate 7%
$249,529
$249.5K
Cap Rate 9%
$194,078
$194.1K
Market Conditions
NOI Build-Up for 2,262 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.9K $13.20/SF
− Vacancy
−$6.6K −$2.90/SF
EGI
$23.3K $10.30/SF
− OpEx
−$5.8K −$2.57/SF
NOI
$17.5K $7.72/SF
Area
Lowndes County, GA
Vacancy
22.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$349,340
Cap Rate 7%
$249,529
Cap Rate 9%
$194,078
Alternative Uses
Best Use
Office B
$249.5K
$218.3K – $291.1K
NOI $17,467 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$343.4K
$300.5K – $400.7K
NOI $24,039 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31601, GA
32,331
Population
14,345
Households
2.3
Avg Household Size
33
Median Age
15%
College-Educated
82%
High-School Grad
159.0 sq mi
ZIP Area
203
Density / Sq Mi
$34,846
Median Household Income
$28,878
Median Earnings
$872
Median Rent
$112,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Historic-style commercial building with adaptable rooms, spa suites, salon capacity, and zoning supporting its existing commercial use.
Where is this spa & wellness property located?
The property is located at 110 W Adair St Valdosta, GA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 2,262 SF building on a 0.21‑acre lot; Six rooms and three bathrooms in the main building; Two private spa suites plus a two‑chair salon
