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

    406 Connell Road Valdosta, GA 31602

    View on Map
    Claim this Listing
    For Sale
    $2,495,000

    Commercial Sale - Valdosta, GA

    Property size:
    25,600 SF
    Lot size:
    2.13 Acres
    Added:
    Mar 18, 2026
    Days on Market:
    31
    Last Refresh:
    Apr 17 at 8:06 pm

    Property Features for 406 Connell Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    CH
    Parking features
    Paved or Surfaced
    Interior features
    Ceiling Fan(s), Public Restrooms, Private Restrooms, Cable TV Available, Telephone
    Exterior features
    Irregular Lot Size, Large Lot
    Standard status
    Active
    APN
    0111B 099
    Size
    25,600 SF
    Lot size
    2.13 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    15133.75

    Utilities

    Utilities
    Cable Available, Phone Available
    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1.5
    Building materials
    Metal Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Tommy Cangelosi

    Listing agent Tommy Cangelosi

    Listing office Landmark Realty and Investments, LLC 2001 N Patterson St., Valdosta, GA

    Listing date Mar 18, 2026

    MLS# 149845 Listing URL

    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.

    Overview

    Valdosta Commercial Highway Redevelopment Opportunity

    Located at 406 Connell Rd in Valdosta, GA, this commercial property presents a redevelopment opportunity in Lowndes County. The 25,600 square foot building is situated on 2.13 acres zoned Commercial Highway, featuring approximately 250 feet of road frontage. The property has operated as a bowling and entertainment venue for over 40 years, configured as a 26-lane bowling center with a full-service bar and cafe. Significant renovations have been completed. The sale includes the real estate, operating business, and associated equipment. This property is suitable for entertainment operators, owner-users, or developers seeking a large footprint property. The site is suited for continued entertainment use, event venue conversion, retail redevelopment, storage conversion, or other mixed commercial applications. Financial statements and operational details are available to qualified buyers upon request after NDA is signed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jac's Bowling Lanes Bowling Alley Time Out Sports ... Bar & Pub

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Valdosta
    County
    Lowndes
    State
    Georgia
    Longitude
    -83.286282
    Latitude
    30.873012

    Nearby Similar for Sale

    • $750,000
      4,550 SF

      Established Dry Cleaning Business For Sale

      Turnkey dry cleaning business with real estate in Valdosta, GA.
      375 Connell Rd, Valdosta, GA 31602
      View Details
    • $525,000
      4,006 SF

      Valdosta Office Building on Baytree

      Spacious 4000+ sqft office building ideal for professional or medical use.
      1216 Baytree Rd, Valdosta, GA 31602
      View Details
    • $495,000
      4,000 SF

      Leased Commercial Strip in Valdosta

      Fully leased commercial strip property with income potential.
      3971 Inner Perimeter, Valdosta, GA 31605
      View Details
    • $825,000
      6,216 SF

      Stabilized Multi-Tenant Office Investment

      Multi-tenant office property near SGMC & Moody AFB.
      411-415 Cowart Avenue, Valdosta, GA 31602
      View Details
    • $899,000
      9,258 SF

      Valdosta Commercial Office For Sale

      Two-story office building with multi-use secondary building and ample parking.
      3185 Madison Hwy, Valdosta, GA 31601
      View Details
    • $720,000
      8,136 SF

      Valdosta Commercial Property for Sale

      Commercial property suitable for multiple business uses in Valdosta, GA.
      401 Ann, Valdosta, GA 31602
      View Details
    • $385,000
      4,800 SF

      Versatile Commercial Building with Showroom

      4800 SF Valdosta building with office, showroom, and warehouse.
      1004 Williams Street, Valdosta, GA 31601
      View Details
    • $725,000
      4,842 SF

      Valdosta Office Building For Sale

      Professional office building with functional space in a stable location.
      1108 Gornto Road, Valdosta, GA 31602
      View Details
    • $725,000
      3,864 SF

      Versatile Commercial Space, Valdosta, GA

      Adaptable 3,864 sq ft commercial space in a growing community.
      3342 Noble Way, Valdosta, GA 31605
      View Details
    • $829,000
      7,560 SF

      Historic Building in Downtown Valdosta

      Renovated 7,560 SF historic building ideal for restaurant/events.
      208 Patterson, Valdosta, GA 31601
      View Details
    • $359,900
      3,183 SF

      Valdosta Commercial Office For Sale

      High-visibility commercial property in historic Valdosta office district.
      706 PATTERSON ST, Valdosta, GA 31601
      View Details
    • $175,000
      4,176 SF

      Valdosta Commercial Building For Sale

      Highly visible commercial building on a high-traffic corner.
      1911 Ashley St, Valdosta, GA 31602
      View Details

    FAQs

    What type of property is this?
    Bowling alley - 25,600 SF commercial building on 2.13 acres for sale.
    Where is this bowling alley located?
    The property is located at 406 Connell Road Valdosta, GA.
    What is the asking price?
    The asking price for this property is $2,495,000.
    What are key features of this property?
    This property features: Prime commercial highway location with **250 feet of road frontage and excellent visibility**.; Large 2.13‑acre property zoned Commercial Highway, suitable for redevelopment or repositioning.; Currently operating as a **26‑lane bowling center with a full‑service bar and cafe**, providing immediate cash flow.
    (229) 834-7131
    We can help!
    Listing Contact
    Tommy Cangelosi
    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!