Historic Mixed-Use
For Sale
$2,795,000
105-111 W Central Avenue, Valdosta, GA 31601
Commercial Sale, Valdosta, GA
Property Size24,300 SF
Lot Size0.23 Acres
Price / SF$115.02
Days on Market283
Property Features for 105-111 W Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-D
Subdivision
downtown
Standard status
Active
APN
0120A 136
Size
24,300 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
in listing office
Tax Annual Amount
20615
Legal Description
in listing office
Amenities
freight elevator
original hardwood floors
granite
Listing Agency:
COLDWELL BANKER PREMIER REAL E
(229) 244-3535
Listed By:
John Courson · License #342868
(229) 251-4632
Added: Nov 12, 2025
Changed: Aug 20
Last Checked: Aug 22 at 12:06PM
MLS# 146799
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 early-1900s brick commercial building provides 24,300 square feet across three levels, with approximately 8,100 square feet per floor. The property combines ground-floor storefront and professional office suites with large display windows, while the upper floors provide space suited to residential or event use. A freight elevator connects all three levels. Historic details include exposed brick, arched windows, original hardwood floors, soaring ceilings, wooden blinds and shutters, and painted exterior signage from the former Ingram-Hewlett Harness Co. Updates include granite finishes, a new roof, and HVAC improvements.
The building is located at 105-111 W Central Avenue in downtown Valdosta, among boutique shops, restaurants, and professional services. It is positioned near the courthouse square and central business district, with access to public parking in the Toombs Street lot. The property carries C-D zoning and occupies 0.227 acres.
The building is located at 105-111 W Central Avenue in downtown Valdosta, among boutique shops, restaurants, and professional services. It is positioned near the courthouse square and central business district, with access to public parking in the Toombs Street lot. The property carries C-D zoning and occupies 0.227 acres.
Key Highlights
- 24,300‑square‑foot historic brick building with 8,100 SF on each of three floors
- Ground‑floor storefront and professional office suites with large display windows
- Upper levels provide residential or event‑ready space
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
$200,475
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
7.17%
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%
$4,009,500
$4.0M
Cap Rate 7%
$2,863,929
$2.9M
Cap Rate 9%
$2,227,500
$2.2M
Market Conditions
NOI Build-Up for 24,300 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
$364.5K $15.00/SF
− Vacancy
−$43.7K −$1.80/SF
EGI
$320.8K $13.20/SF
− OpEx
−$120.3K −$4.95/SF
NOI
$200.5K $8.25/SF
Area
Lowndes County, GA
Vacancy
12.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
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%
$4,009,500
Cap Rate 7%
$2,863,929
Cap Rate 9%
$2,227,500
Alternative Uses
Best Use
Mixed Use
$2.86M
$2.51M – $3.34M
NOI $200,475 @ 7.0% cap · market cap 7.17%
Second Best
Retail
$2.74M
$2.40M – $3.20M
NOI $191,822 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$3.69M
$3.23M – $4.30M
NOI $258,241 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,126
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story property combining storefronts, professional offices, and adaptable upper-level residential or event space.
Where is this mixed-use property located?
The property is located at 105-111 W Central Avenue Valdosta, GA.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: 24,300‑square‑foot historic brick building with 8,100 SF on each of three floors; Ground‑floor storefront and professional office suites with large display windows; Upper levels provide residential or event‑ready space
