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    The Largest CRE Database in the US with Over 1 Million Listings

    2801 Slappey Blvd Albany, GA 31701

    Sponsored
    For Lease
    $4,500 /Mo ($0.93 SF/Yr)

    Improved Commercial Lease - Albany, GA

    Lot size:
    1.34 Acres
    Days on Market:
    14
    Last Refresh:
    Jan 29 at 3:06 am

    Property Features for 2801 Slappey Blvd

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Business,Commercial,General Commercial,Office/Prof,Other
    APN
    000mm/00005/001
    Interior features
    Other, Freestanding Building, Handicapped Access, Handicapped Facilities, License: Beer & Wine, License: Liquor, Office Area, See Remarks
    Exterior features
    Display Windows
    Accessibility
    Accessible Approach with Ramp
    Lot size
    1.34 Acres

    Taxes and HOA fees

    Expense value
    4500
    Expense
    Security Deposit
    Expense freq.
    Once

    Utilities

    Heating system
    Central, Electric (Heating)

    Building Details

    Year built
    1993
    Floors in Building
    1
    Number of units
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    Morgan Layfield
    Morgan Layfield

    Selling Sowega, LLC (229) 434-1600

    Listing agent Morgan Layfield (229) 434-1600

    Listing date Jan 16, 2026

    MLS# 164598 Listing URL

    Copyright © 2026 Albany Board of Realtors and Southwest Georgia 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

    High-Traffic Commercial Property in Albany

    Located at 2801 N Slappey Blvd in Albany, GA, this freestanding commercial building offers 7,169 sq ft of space, including 4,500 sq ft of climate-controlled space with HVAC. The property is situated on a 1.34-acre corner lot with 255 feet of road frontage, providing high visibility with a daily traffic count exceeding 19,000 vehicles. The location is near U.S. Highway 19 and Liberty Expressway (U.S. Highway 82), approximately 3 miles from the Albany Mall, about 5 miles from Southwest Georgia Regional Airport, 2 miles north of downtown Albany, and 0.3 miles from Lee County, GA. The property features a six-lane drive-thru and ample parking. The interior has been fully renovated and includes a large walk-in cooler, 14 glass-door merchandise coolers, a spacious checkout counter, and an open floor plan. Previously home to Renasant Bank and currently operating as Drip Drop Liquors, the property is suitable for various businesses and offers multiple possibilities. It can be utilized as is, modified for an alternate use, or completely redeveloped. The large lot presents an excellent opportunity for redevelopment to accommodate new businesses or a multi-tenant investment. The property is surrounded by a mix of national and local establishments, including Sunbelt Ford, Zaxby's, Burger King, and Wendy's. The area is suitable for retail, drive-thru services, restaurants, medical offices, or a multi-tenant development, drawing customers from both Lee and Dougherty County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Dougherty
    State
    Georgia
    Longitude
    -84.176892
    Latitude
    31.62001

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    FAQs

    What type of property is this?
    Retail space - Freestanding commercial building with high visibility and redevelopment potential.
    Where is this retail space located?
    The property is located at 2801 Slappey Blvd Albany, GA.
    What is the lease rate?
    The lease rate is $0.93 SF/Yr.
    What are key features of this property?
    This property features: - High-traffic location with over 19,000 vehicles daily and **255 feet of road frontage**.; - Versatile property suitable for current use, modification, or complete redevelopment.; - **Spacious 1.34-acre corner lot** offering redevelopment potential for new businesses or multi-tenant investment.
    (229) 900-7900
    Request Owner's contact information
    2801 Slappey Blvd Albany, GA 31701
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    Albany, GA 31701
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    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
    2801 Slappey Blvd Albany, GA 31701
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    We can help!
    Listing Contact
    Morgan Layfield
    Morgan Layfield
    (229) 900-7900
    Learn more
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