Office Building with Private
For Sale
$169,000
Pending
1002 Slater St., Valdosta, GA 31601
Commercial Sale, Valdosta, GA
Property Size1,596 SF
Lot Size0.17 Acres
Days on Market144
Property Features for 1002 Slater St.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RP
Subdivision
Force
Standard status
Pending
APN
0118A 319
Size
1,596 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT LT 5&6 BK 14 C O FORCE
Tax Annual Amount
2552
Legal Description
PT LT 5&6 BK 14 C O FORCE
Amenities
private offices
conference rooms
reception area
full kitchen
handicap accessible
Building Details
Year built
1930
Listing Agency:
Georgia Florida Real Estate Services
(229) 560-2081
Listed By:
Melissa Sherwood
(229) 561-0232
Added: Apr 24
Changed: Aug 30
Last Checked: Sep 14 at 1:06AM
MLS# 153449
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 1,596-square-foot office property, built in 1930, is arranged with multiple private offices, conference rooms, reception or common areas, and a full kitchen. The building is handicap accessible and includes on-site parking. Its existing office configuration supports professional business use, while residential conversion may be possible subject to applicable zoning and local approvals.
Located at 1002 Slater St. in Valdosta, the property is surrounded by established professional offices. The 0.17-acre site is identified with RP zoning and offers an existing layout that can accommodate a range of office operations without relying on a large-footprint commercial format.
Located at 1002 Slater St. in Valdosta, the property is surrounded by established professional offices. The 0.17-acre site is identified with RP zoning and offers an existing layout that can accommodate a range of office operations without relying on a large-footprint commercial format.
Key Highlights
- 1,596‑square‑foot office property on a 0.17‑acre site
- Multiple private offices with spacious conference rooms
- Reception or common areas plus a full kitchen
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
$12,324
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
7.29%
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%
$246,480
$246.5K
Cap Rate 7%
$176,057
$176.1K
Cap Rate 9%
$136,933
$136.9K
Market Conditions
NOI Build-Up for 1,596 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
$21.1K $13.20/SF
− Vacancy
−$4.6K −$2.90/SF
EGI
$16.4K $10.30/SF
− OpEx
−$4.1K −$2.57/SF
NOI
$12.3K $7.72/SF
Area
Lowndes County, GA
Vacancy
22.00%
Lease Rate
$13.20 /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%
$246,480
Cap Rate 7%
$176,057
Cap Rate 9%
$136,933
Alternative Uses
Best Use
Office B
$176.1K
$154.1K – $205.4K
NOI $12,324 @ 7.0% cap · market cap 7.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$242.3K
$212.0K – $282.7K
NOI $16,961 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 31601, GA
32,331
Population
14,345
Households
2.3
Avg Household Size
33
Median Age
15%
College-Educated
82%
High-School Grad
159.0 sq mi
ZIP Area
203
Density / Sq Mi
$34,846
Median Household Income
$28,878
Median Earnings
$872
Median Rent
$112,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - RP-zoned office property with accessible features, on-site parking, and a layout adaptable to professional users.
Where is this office building located?
The property is located at 1002 Slater St. Valdosta, GA.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 1,596‑square‑foot office property on a 0.17‑acre site; Multiple private offices with spacious conference rooms; Reception or common areas plus a full kitchen
