Building Details

Year built 1996

Listing Agency: FIRST COMMERCIAL REAL ESTATE Show Phone

Listed By: Scott Alderman · License #109748 Show Phone

Added: Dec 31, 2025 Changed: Aug 20 Last Checked: Aug 22 at 7:06AM

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MLS# 147162

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.

The property is a 4,907-square-foot heated restaurant building with 1,770 square feet of outdoor decks and seating. The interior includes multiple seating areas, a kitchen, restrooms, and storage. Built in 1996, the building sits on a 0.86-acre corner lot and is zoned C-C.

Deed restrictions limit future use to restaurant, retail, or office purposes; bars and clubs are not allowed. Additional restrictions apply to alcohol sales and closing times. The property is located at 1903 Baytree Place in Remerton, with Baytree Rd serving as a connector between the Valdosta Mall, Exit 18, the I-75 retail district, and Valdosta State University. Remerton is surrounded by the City of Valdosta and includes restaurants, shops, entertainment, and student and other housing.

Key Highlights

• 4,907 SF heated restaurant building with 1,770 SF of outdoor decks and seating
• 0.86‑acre corner lot zoned C‑C
• Interior includes multiple seating areas, kitchen, restrooms, and storage

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

$45,276

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

5.84%

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%

$905,520 $905.5K

Cap Rate 7%

$646,800 $646.8K

Cap Rate 9%

$503,067 $503.1K

Market Conditions

NOI Build-Up for 4,907 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

$64.8K $13.20/SF

− Vacancy

−$4.4K −$0.90/SF

EGI

$60.4K $12.30/SF

− OpEx

−$15.1K −$3.08/SF

NOI

$45.3K $9.23/SF

Area

Lowndes County, GA

Vacancy

6.80%

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%

$905,520

Cap Rate 7%

$646,800

Cap Rate 9%

$503,067

Alternative Uses

Best Use

Specialty Retail

$646.8K

$566.0K – $754.6K (±1% cap)

NOI $45,276 @ 7.0% cap · market cap 5.84%

Second Best

Retail

$553.4K

$484.2K – $645.6K (±1% cap)

NOI $38,735 @ 7.0% cap · market cap 5.00%

Theoretical Best

Office A

$745.0K

$651.9K – $869.1K (±1% cap)

NOI $52,148 @ 7.0% cap · market cap 6.73%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

13,700 VPD

Traffic count

Location Intelligence

Trade Area within ½ mile

576

Businesses Nearby

124k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Home Improvements & Furnishings 34% Apparel 31% Shops & Services 17% Dining 17%

The Home Depot Home Improvements & Furnishings

42,188 visits/mo 0.5 miles

Kohl's Apparel

38,282 visits/mo 0.4 miles

Dollar General Shops & Services

16,759 visits/mo 0.2 miles

Ellianos Coffee Dining

9,246 visits/mo 0.2 miles

Waffle House Dining

6,334 visits/mo 0.1 miles

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 Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Corner-lot commercial property with restaurant, retail, or office use subject to deed restrictions.

Where is this conventional restaurant located?

The property is located at 1903 Baytree Place Remerton, GA.

What is the asking price?

The asking price for this property is $775,000.

What are key features of this property?

This property features: 4,907 SF heated restaurant building with 1,770 SF of outdoor decks and seating; 0.86‑acre corner lot zoned C‑C; Interior includes multiple seating areas, kitchen, restrooms, and storage