Add Listing
    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

    2003 Alice Street Waycross, GA 31501

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,370,000

    COMMERCIAL - Waycross, GA

    Property size:
    5,694 SF
    Lot size:
    0.59 Acres
    Price / SF:
    $240/SF
    Added:
    Dec 24, 2023
    Days on Market:
    854
    Last Refresh:
    Apr 26 at 9:06 am

    Property Features for 2003 Alice Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    15
    Standard status
    Active
    APN
    WA 1504 016
    Size
    5,694 SF
    Lot size
    0.59 Acres

    Taxes and HOA fees

    Tax Description
    Ware Co parcel ID #WA 1504 016

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Don Wright

    Listing agent Don Wright License #12088

    Listing office Don Wright & Associates PO Box 30608, Sea Island, GA

    Listing date Dec 24, 2023

    MLS# 1643881

    Copyright © 2026 Golden Isles Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Medical Facility with Surgery Center

    This property is a 5694 square foot medical facility with an attached ambulatory surgery center, situated in Waycross, Georgia. The facility features a porte cochere entrance, a reception and waiting area, multiple bathrooms, several large rooms and offices, and an attached ambulatory surgery center. The property provides ample parking and is located on a 0.59-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Orthopedic Specialists South ... Physician Dr. Randall F. ... Physician Southern Georgia Physicians ... Physician Dr. Philip H. ... Physician Benjamin Stovall Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Waycross
    County
    Ware
    State
    Georgia
    Longitude
    -82.344794
    Latitude
    31.226522

    Nearby Similar for Sale

    • $999,000
      29,760 SF

      Waycross Commercial Property For Sale

      Versatile commercial property with high visibility and endless possibilities.
      447 Ossie Davis Parkway, Waycross, GA 31501
      View Details
    • $825,000
      4,122 SF

      Waycross Commercial Property For Sale

      Recently renovated retail property with established business opportunity in Waycross.
      816 Memorial Drive, Waycross, GA 31501
      View Details
    • $222,500
      2,625 SF

      Versatile Commercial Property in Waycross

      Adaptable commercial space in the heart of Waycross, Georgia.
      100 Albany Ave, Waycross, GA 31501
      View Details
    • $199,500
      1,570 SF

      Versatile Commercial Property in Waycross

      Commercial property ideal for retail, office, or food services.
      1112 Albany Ave, Waycross, GA 31501
      View Details
    • $800,000
      51,200 SF

      Waycross Warehouse on 6.5 Acres

      51,200 SF warehouse on 6.5 acres in Waycross, GA.
      812 Garlington Ave, Waycross, GA 31501
      View Details
    • $595,000

      Waycross Church with Redevelopment Potential

      2.07-acre church property with sanctuary, classrooms, kitchen, and parking.
      412 McDonald Street, Waycross, GA 31501
      View Details
    • $110,000

      Versatile Commercial Building in Waycross

      Adaptable commercial space suitable for retail, office, or service businesses.
      875 Tebeau Street, Waycross, GA 31501
      View Details
    • $668,000

      Turnkey Mechanic Shop For Sale

      Fully operational mechanic shop with established customer base and strong reputation.
      1059 Alice Street, Waycross, GA 31501
      View Details
    • $699,000

      Waycross Commercial Property with Upside

      24-lot mobile home park with income and expansion potential.
      851 Mount Pleasant Road, Waycross, GA 31503
      View Details
    • $2,000,000
      9,091 SF

      Restaurant/Retail Opportunity in Waycross, GA

      Versatile commercial property with high visibility and endless potential.
      1506 Memorial Drive, Waycross, GA 31501
      View Details
    • $495,000
      6,930 SF

      Commercial Property on Memorial Drive

      Commercial property with road frontage and paved parking in Waycross, GA.
      800 Memorial Drive, Waycross, GA 31501
      View Details
    • $2,100,000
      24,144 SF

      24,144 SF Retail Building

      Highly visible building on 1.85 acres with 96 parking spaces.
      2250 Brunswick Highway, Waycross, GA 31503
      View Details

    FAQs

    What type of property is this?
    Medical center - 5694 SF medical facility with attached ambulatory surgery center.
    Where is this medical center located?
    The property is located at 2003 Alice Street Waycross, GA.
    What is the asking price?
    The asking price for this property is $1,370,000.
    What are key features of this property?
    This property features: 1. 5694 SF medical facility with attached ambulatory surgery center.; Located in Waycross, GA.; Includes an attached ambulatory surgery center.
    (912) 638-4740
    We can help!
    Listing Contact
    Don Wright
    Real Estate License ID: 12088
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!