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

    97 Ivey St Richmond Hill, GA 31324

    Sponsored
    For Sale
    $2,500,000

    MULTI_FAMILY - Richmond Hill, GA

    Property size:
    15,600 SF
    Lot size:
    0.46 Acres
    Days on Market:
    16
    Last Refresh:
    Feb 21 at 3:06 am

    Property Features for 97 Ivey St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Rooms
    Bathroom 14, Bedroom 17, Bedroom 21, Bathroom 9, Bedroom 8, Bedroom 29, Bedroom 30, Bathroom 8, Bathroom 15, Bedroom 27, Bedroom 28, Bathroom 7, Bathroom 4, Bedroom 6, Bathroom 2, Bedroom 25, Bathroom 1, Bathroom 16, Bedroom 3, Bedroom 14, Bedroom 31, Bedroom 10, Bathroom 3, Bedroom 4, Bathroom 11, Bedroom 11, Bathroom 13, Bedroom 7, Bedroom 26, Bathroom 10, Bedroom 15, Bedroom 13, Bedroom 18, Bedroom 23, Bathroom 12, Bedroom 9, Bathroom 5, Bedroom 2, Bedroom 22, Bathroom 6, Bedroom 16, Bedroom 32, Bedroom 19, Bedroom 12, Bedroom 1, Bedroom 24, Bedroom 20, Bedroom 5
    Bedrooms
    32
    Bathrooms
    16
    APN
    0532 148
    Parking features
    Parking Lot
    Appliances
    Dishwasher, Electric Water Heater, Oven, Range, Refrigerator
    Size
    15,600 SF
    Lot size
    0.46 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1977
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Vinyl, Carpet
    Building materials
    Stucco

    We can help!

    Listing Contact
    Heather Murphy
    Heather Murphy

    Keller Williams Coastal Area P (912) 356-5001

    Listing agent Heather Murphy (912) 356-5001 License #277893

    Listing date Feb 6, 2026

    MLS# SA341906

    Copyright © 2026 HIVE 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

    Richmond Hill Multifamily Investment Opportunity

    This multifamily investment opportunity features two well-maintained 8-unit buildings, totaling 16 income-producing units. Each unit has a 2 bedroom, 1 bath floor plan with a spacious living area and a fully equipped dine-in kitchen. The property provides dedicated tenant parking and separate HVAC systems for each unit. Situated near major employers, two military bases, top rated schools, retail, dining, and primary transportation corridors, the property benefits from consistent tenant demand and strong historical occupancy. Located in Richmond Hill, Georgia, the property is positioned within a market demonstrating rental stability and growth potential within coastal Georgia. The property has a lot size of 0.46 acres and a total property size of 15600 square feet. The sale includes 115 Ivey Street (PIN 0532 148).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond Hill
    County
    Bryan
    State
    Georgia
    Longitude
    -81.305447
    Latitude
    31.93828

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    • $2,500,000
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      Richmond Hill Multi-Family Investment Property

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    FAQs

    What type of property is this?
    Apartment building - 16-unit multifamily property in Richmond Hill, GA with 100% occupancy.
    Where is this apartment building located?
    The property is located at 97 Ivey St Richmond Hill, GA.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - 100% Occupancy: Provides immediate and reliable cash flow.; - 16 Units (Two 8-Unit Buildings): Offers significant scale and operational efficiency.; - Prime Location: Situated near major employers, military bases, top-rated schools, retail, dining, and transportation corridors, ensuring consistent tenant demand.
    (912) 335-3956
    Request Owner's contact information
    97 Ivey St Richmond Hill, GA 31324
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    Richmond Hill, GA 31324
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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
    97 Ivey St Richmond Hill, GA 31324
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    We can help!
    Listing Contact
    Heather Murphy
    Heather Murphy
    Real Estate License ID: 277893
    (912) 335-3956 (912) 232-8580 (912) 356-5001
    Learn more
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