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    Commercial Property on Slappey Drive Title is generated by Realmo AI

    1001 Slappey Blvd S, Albany, GA 31701

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    For Sale
    $779,900

    10+ acre commercial property with multiple buildings for sale.

    Type:General Commercial
    Property size:
    58,401 SF
    Lot size:
    10.10 Acres
    Price / SF:
    $13/SF
    Added:
    Nov 3, 2024
    Days on Market:
    581
    Last Refresh:
    May 12 at 9:01 pm

    Property Features for 1001 Slappey Blvd S

    General Information

    Standard status
    Active
    Size
    58,401 SF
    Lot size
    10.10 Acres
    Property subtype
    General Commercial

    Building Details

    Year Built
    1972

    We can help!

    Listing Contact
    Tambi Wingate Williams

    Listing agent Tambi Wingate Williams

    Listing office Cobblestone Realty Partners

    Listing date Nov 3, 2024

    Source Xome

    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 Cobblestone Realty Partners

    HighLights

    • Prime commercial location on S Slappey Dr, near the airport, major industry, and truck routes.
    • Substantial property size: 10.097 acres with a total of 58,401 sq ft of buildings.
    • Large main building (43,795 sq ft) with a mix of garage/warehouse (28,000 sq ft) and climate‑controlled space (15,795 sq ft).
    • Income‑generating potential with existing leases providing $4,200 monthly income.
    • Secure and functional exterior features: 7 fenced acres, 5 acres of asphalt paving, pole lighting, gated alley access, and 2 commercial entrances.
    • Includes three detached buildings: former body shop (12,040 sq ft), storage building (1,890 sq ft), and sales office (676 sq ft).

    Overview

    This commercial property is located on S Slappey Dr, near the airport, major industry, and truck routes. The property spans 10.097 acres and includes 58,401 sq ft of buildings. The main building has 43,795 sq ft, featuring 28,000 sq ft of garage/warehouse space and 15,795 sq ft of climate-controlled space suitable for offices, showrooms, and parts storage. There are three detached buildings: a former body shop (12,040 sq ft), a storage building (1,890 sq ft), and a sales office (676 sq ft). The property includes 7 fenced acres, 5 acres of asphalt paving, and 2.9 acres of open land. It features two commercial entrances, pole lighting in the lot, and gated alley access to the back of the property. Currently, a smaller car lot leases one side of the property (sales office) for $3,000 per month, and Wallace Shop occupies space in the back for $1,200 per month as a secondary mechanic shop. The property offers an abundance of potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    higi Physician Beauty Depot super ... (Bike/Boat/Book/etc) Store Third Avenue Shopping ... Shopping Center & Mall Car Nation Auto ... Car Dealership

    Suggested Use

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

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

    Similar Places Nearby

    • Store Space Self Storage — 1512 Gillionville Rd Ste 7, Albany, GA 31707
    • Self-Storage at U-Haul — 820 W Oglethorpe Blvd, Albany, GA 31701
    • Storage Rentals of America — 1604 Camp Ln, Albany, GA 31707

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Dougherty
    State
    Georgia
    Longitude
    -84.1777691
    Latitude
    31.5639649

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    FAQs

    What type of property is this?
    Warehouse - 10+ acre commercial property with multiple buildings for sale.
    Where is this warehouse located?
    The property is located at 1001 Slappey Blvd S Albany, GA.
    What is the asking price?
    The asking price for this property is $779,900.
    What are key features of this property?
    This property features: Prime commercial location on S Slappey Dr, near the airport, major industry, and truck routes.; Substantial property size: 10.097 acres with a total of 58,401 sq ft of buildings.; Large main building (43,795 sq ft) with a mix of garage/warehouse (28,000 sq ft) and climate‑controlled space (15,795 sq ft).
    (229) 518-9778
    We can help!
    Listing Contact
    Tambi Wingate Williams
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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.

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