Storefront Building with Office
For Sale
$725,000
421 Connell Road, Valdosta, GA 31602
Commercial Sale, Valdosta, GA
Property Size3,984 SF
Lot Size0.44 Acres
Price / SF$181.98
Days on Market51
Property Features for 421 Connell Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-C
Subdivision
2-N of Park Ave to E Oak St (City Limits)
Standard status
Active
APN
0112A 021
Size
3,984 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ADT ASSOCIATES SUB DIV
Tax Annual Amount
5605
Legal Description
ADT ASSOCIATES SUB DIV
Listing Agency:
GPS Real Estate
(229) 460-4147
Listed By:
Ivy Kendrick · License #447739
(229) 630-6276
Added: Aug 14
Changed: Sep 7
Last Checked: Oct 3 at 8:06AM
MLS# 154725
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.
This 3,984-square-foot storefront property includes an inviting street-facing entrance, multiple office spaces, and two bathrooms. Its interior configuration is identified as suitable for retail, office, or service-based business uses, providing a combination of customer-facing and work areas within the building.
The property occupies 0.44 acres at 421 Connell Road in Valdosta, Georgia. Estimated traffic volume along the location is approximately 10,000 vehicles per day. C-C zoning is reported for the site.
The property occupies 0.44 acres at 421 Connell Road in Valdosta, Georgia. Estimated traffic volume along the location is approximately 10,000 vehicles per day. C-C zoning is reported for the site.
Key Highlights
- 3,984‑square‑foot storefront property
- Multiple office spaces and two bathrooms
- C‑C zoning
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
$31,449
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
4.34%
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%
$628,980
$629.0K
Cap Rate 7%
$449,271
$449.3K
Cap Rate 9%
$349,433
$349.4K
Market Conditions
NOI Build-Up for 3,984 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
$50.2K $12.60/SF
− Vacancy
−$5.3K −$1.32/SF
EGI
$44.9K $11.28/SF
− OpEx
−$13.5K −$3.38/SF
NOI
$31.4K $7.89/SF
Area
Lowndes County, GA
Vacancy
10.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
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%
$628,980
Cap Rate 7%
$449,271
Cap Rate 9%
$349,433
Alternative Uses
Best Use
Retail
$449.3K
$393.1K – $524.2K
NOI $31,449 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$604.8K
$529.2K – $705.7K
NOI $42,339 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
10,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
996
Businesses Nearby
125k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 47%
Dining 32%
Shops & Services 19%
Home Improvements & Furnishings 2%
Publix
Groceries
58,839 visits/mo
0.5 miles
Circle K
Shops & Services
14,860 visits/mo
0.3 miles
SONIC Drive In
Dining
14,104 visits/mo
0.3 miles
Hardee's
Dining
10,603 visits/mo
0.5 miles
Little Caesars Pizza
Dining
5,474 visits/mo
0.5 miles
Demographics for 31602, GA
35,999
Population
15,201
Households
2.4
Avg Household Size
33
Median Age
32%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
902
Density / Sq Mi
$55,980
Median Household Income
$34,919
Median Earnings
$1,046
Median Rent
$197,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - C-C-zoned commercial property with multiple offices, two bathrooms, and an adaptable interior layout.
Where is this storefront property located?
The property is located at 421 Connell Road Valdosta, GA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,984‑square‑foot storefront property; Multiple office spaces and two bathrooms; C‑C zoning
