Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    116 Ivey St Richmond Hill, GA 31324

    Sponsored
    For Sale
    $525,000

    MULTI_FAMILY - Bungalow - Richmond Hill, GA

    Property size:
    3,982 SF
    Lot size:
    0.29 Acres
    Days on Market:
    114
    Last Refresh:
    Feb 21 at 3:06 am

    Property Features for 116 Ivey St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    CITY
    Rooms
    Bedroom 6, Bathroom 1, Bedroom 3, Bedroom 5, Bedroom 7, Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 1
    Bedrooms
    7
    Bathrooms
    3
    APN
    0532-141
    Parking features
    Off Street, Parking Lot
    Patio and Porch features
    Porch
    Appliances
    Electric Water Heater
    Size
    3,982 SF
    Lot size
    0.29 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Window Unit(s), Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1940
    Floors in Building
    1
    Number of units
    3
    Architectural style
    Bungalow

    We can help!

    Listing Contact
    Kathleen Linzey
    Kathleen Linzey

    Realty One Group Inclusion (912) 298-7200

    Listing agent Kathleen Linzey (912) 298-7200 License #367130

    Listing date Oct 31, 2025

    MLS# SA327755

    Copyright © 2026 HIVE MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Richmond Hill Triplex Investment Opportunity

    This well-maintained triplex in Richmond Hill presents an exceptional investment opportunity. The property features two 2-bedroom, 1-bath units and one 3-bedroom, 1-bath unit, providing ample living space for tenants. The seller has invested over $55,000 in recent upgrades, including new HVAC systems and plumbing enhancements, ensuring long-term reliability and added value. There's also potential to further increase rental income and equity with additional updates. The property is conveniently located near Highway 17 and I-95, offering tenants easy access to shopping, dining, and top-rated schools. The property is situated on a 0.29-acre lot and has a total size of 3982 square feet. The property has a monthly rental potential of $4395. The zoning is CITY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond Hill
    County
    Bryan
    State
    Georgia
    Longitude
    -81.306077
    Latitude
    31.938556

    Nearby Similar for Sale

    • $450,000
      2,775 SF

      Richmond Hill Dual-Home Investment Opportunity

      Two single-family homes on one property, generating rental income.
      177 Spruce St, Richmond Hill, GA 31324
      View Details
    • $2,500,000
      15,600 SF

      Richmond Hill Multi-Family Investment Property

      16-unit multi-family property in Richmond Hill, GA for sale.
      97 Ivey St, Richmond Hill, GA 31324
      View Details
    • $2,500,000
      15,600 SF

      Richmond Hill Multifamily Investment Opportunity

      16-unit multifamily property in Richmond Hill, GA with 100% occupancy.
      97 Ivey St, Richmond Hill, GA 31324
      View Details
    • Contact for pricing

      Richmond Hill Shopping Center For Sale

      45,608 SF shopping center with national tenants near Savannah.
      9701 Ford Ave, Richmond Hill, GA 31324
      View Details
    • Contact for pricing
      286,000 SF

      Class A Manufacturing Facility

      Manufacturing facility near I-95, CSX rail, and Savannah port.
      1 Ceasarstone Dr, Richmond Hill, GA
      View Details

    FAQs

    What type of property is this?
    Specialty property - Income-producing triplex in Richmond Hill with recent upgrades.
    Where is this specialty property located?
    The property is located at 116 Ivey St Richmond Hill, GA.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: - Income-producing triplex with As Is monthly rental potential of $4395.; - Recent upgrades totaling $55,000, including new HVAC systems and plumbing enhancements.; - Prime location near Highway 17 and I-95, providing easy access to amenities.
    (912) 414-4103
    Request Owner's contact information
    116 Ivey St Richmond Hill, GA 31324
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    116 Ivey St
    Richmond Hill, GA 31324
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    116 Ivey St Richmond Hill, GA 31324
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Kathleen Linzey
    Kathleen Linzey
    Real Estate License ID: 367130
    (912) 414-4103 (912) 298-7200
    Learn more
    Google sign-in failed. Please try again or use another login method.