Two-Story Office
For Sale
$315,000
410 Society Avenue W, Albany, GA 31701
COMMERCIAL - Albany, GA
Property Size2,822 SF
Lot Size0.36 Acres
Price / SF$111.62
Days on Market140
Property Features for 410 Society Avenue W
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Jefferson, turn West onto W Society. Property on the left.
Subdivision
Northeast Albany
Standard status
Active
APN
000cc/00021/015
Size
2,822 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Deed Book/Page - 780/683
Tax Annual Amount
1381
Legal Description
Deed Book/Page - 780/683
Amenities
high ceilings
crown molding
original hardwood floors
marble fireplace
sun room
carport
stone fence
professional landscaping
Building Details
Year built
1948
Floors in Building
2
Number of units
1
Listing Agency:
RE/MAX OF ALBANY · RE/MAX International
(229) 434-1600
Listed By:
Karen Richter · License #213956
(229) 854-3730
Added: Apr 3
Changed: Aug 14
Last Checked: Aug 20 at 8:06AM
MLS# 168857
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.
Investment Insights
Based on property information with market context.
Built in 1948, this 2,822-square-foot, two-story office building combines professional functionality with retained architectural details. The interior includes spacious office rooms, high ceilings with crown molding, original hardwood flooring on both levels, a marble fireplace, multiple bathrooms, and a sunroom configured as an employee break area. Recent improvements include a new roof, updated central HVAC, and professional landscaping.
The 0.36-acre property includes a carport, ample parking, and an original stone fence along the rear of the lot. It is located one block from Phoebe Putney Memorial Hospital and near downtown Albany. C5 zoning qualifies the property for an office-institutional-residential district, supporting its established professional-office configuration.
The 0.36-acre property includes a carport, ample parking, and an original stone fence along the rear of the lot. It is located one block from Phoebe Putney Memorial Hospital and near downtown Albany. C5 zoning qualifies the property for an office-institutional-residential district, supporting its established professional-office configuration.
Key Highlights
- 2,822‑square‑foot office building on a 0.36‑acre lot
- Two‑story layout with spacious office rooms and multiple bathrooms
- Built in 1948 with original hardwood floors, crown molding, and marble fireplace
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
$24,763
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
7.86%
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%
$495,260
$495.3K
Cap Rate 7%
$353,757
$353.8K
Cap Rate 9%
$275,144
$275.1K
Market Conditions
NOI Build-Up for 2,822 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
$42.3K $15.00/SF
− Vacancy
−$9.3K −$3.30/SF
EGI
$33.0K $11.70/SF
− OpEx
−$8.3K −$2.93/SF
NOI
$24.8K $8.78/SF
Area
Dougherty County, GA
Vacancy
22.00%
Lease Rate
$15.00 /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%
$495,260
Cap Rate 7%
$353,757
Cap Rate 9%
$275,144
Alternative Uses
Best Use
Office B
$353.8K
$309.5K – $412.7K
NOI $24,763 @ 7.0% cap · market cap 7.86%
Second Best
Healthcare Medical
$350.7K
$306.9K – $409.2K
NOI $24,550 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$555.4K
$486.0K – $647.9K
NOI $38,876 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 31701, GA
18,133
Population
9,535
Households
1.9
Avg Household Size
39
Median Age
17%
College-Educated
81%
High-School Grad
21.2 sq mi
ZIP Area
855
Density / Sq Mi
$32,902
Median Household Income
$31,489
Median Earnings
$812
Median Rent
$97,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - C5-zoned professional property with updated HVAC, original hardwood floors, parking, and flexible office accommodations.
Where is this office building located?
The property is located at 410 Society Avenue W Albany, GA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,822‑square‑foot office building on a 0.36‑acre lot; Two‑story layout with spacious office rooms and multiple bathrooms; Built in 1948 with original hardwood floors, crown molding, and marble fireplace
