Restored Two-Story Bank
For Sale
$250,000
103 S Lee St, Valdosta, GA 31601
Updated interior retains original marble counters, chandeliers, and an outdoor brick patio.
Property Size1,680 SF
Price / SF$148.81
Days on Market144
Property Features for 103 S Lee St
General Information
Standard status
Active
Size
1,680 SF
Amenities
outdoor brick patio
Building Details
Buildings
1
Stories
2
Listing Agency:
THE HERNDON COMPANY
(229) 561-7725
Listed By:
Suzanne Montgomery · License #211611
(229) 561-7725
Source:
Exprealty
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 31 at 6:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of THE HERNDON COMPANY
Investment Insights
Based on property information with market context.
This two-story bank building combines substantial interior updates with retained architectural details. Renovated counters, ceilings, windows, and walls complement an existing lobby finished with original marble counters. Chandeliers and extensive windows add distinctive character while bringing natural light throughout the interior.
An outdoor brick patio extends the property’s usable setting beyond the building. The property measures 1,680 square feet and presents a preserved commercial building with a blend of historic detailing and contemporary improvements.
An outdoor brick patio extends the property’s usable setting beyond the building. The property measures 1,680 square feet and presents a preserved commercial building with a blend of historic detailing and contemporary improvements.
Key Highlights
- Two‑story bank building with 1,680 square feet
- Updated counters, ceilings, windows, and walls
- Lobby features original marble counters
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
$15,501
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
6.20%
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%
$310,020
$310.0K
Cap Rate 7%
$221,443
$221.4K
Cap Rate 9%
$172,233
$172.2K
Market Conditions
NOI Build-Up for 1,680 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
$22.2K $13.20/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$20.7K $12.30/SF
− OpEx
−$5.2K −$3.08/SF
NOI
$15.5K $9.23/SF
Area
Lowndes County, GA
Vacancy
6.80%
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%
$310,020
Cap Rate 7%
$221,443
Cap Rate 9%
$172,233
Alternative Uses
Best Use
Specialty Retail
$221.4K
$193.8K – $258.4K
NOI $15,501 @ 7.0% cap · market cap 6.20%
Second Best
Retail
$189.5K
$165.8K – $221.0K
NOI $13,262 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$255.1K
$223.2K – $297.6K
NOI $17,854 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,272
Businesses Nearby
34k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 37%
Home Improvements & Furnishings 13%
Electronics 2%
Church's Chicken
Dining
9,867 visits/mo
0.1 miles
Family Dollar
Shops & Services
5,195 visits/mo
0.2 miles
Langdale Ford
Shops & Services
4,086 visits/mo
0.5 miles
SUBWAY
Dining
2,656 visits/mo
0.4 miles
True Value Hardware
Home Improvements & Furnishings
2,323 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Updated interior retains original marble counters, chandeliers, and an outdoor brick patio.
Where is this bank located?
The property is located at 103 S Lee St Valdosta, GA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑story bank building with 1,680 square feet; Updated counters, ceilings, windows, and walls; Lobby features original marble counters
