Two-Story Downtown Mixed-Use
For Sale
$625,000
108 N Patterson St, Valdosta, GA 31601
The brick interior is stripped to its framing, creating a renovation project within a downtown commercial corridor.
Property Size6,480 SF
Price / SF$96.45
Days on Market38
Property Features for 108 N Patterson St
General Information
Standard status
Active
Size
6,480 SF
Zoning
C-D Downtown Commercial
Property Condition
Severity
Repairs Needed
Evidence
taken down to the studs
Additional Details
Opportunity Zone
Yes
Taxes and HOA fees
Annual Taxes
$3,277
Building Details
Year Built
1935
Buildings
1
Stories
2
Building Size
6,480 SF
Construction
brick
Listing Agency:
Prime Properties Services, LLC
(229) 474-4051
Listed By:
Howard Dasher, III
(229) 834-1079
Source:
Exprealty
Added: Sep 22
Changed: Oct 26
Last Checked: Oct 28 at 9:16AM
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 Prime Properties Services, LLC
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Investment Insights
Based on property information with market context.
This two-story brick mixed-use property contains approximately 6,480 square feet and was built in 1935. The interior has been stripped to the studs, and the building is offered as-is. Its C-D Downtown Commercial zoning supports a downtown commercial property classification; buyers should confirm permitted uses independently.
The building fronts North Patterson Street in downtown Valdosta, near the courthouse, restaurants, shops, offices, and other downtown destinations. It is within a designated Opportunity Zone. Potential tax credits or redevelopment incentives require independent verification.
The building fronts North Patterson Street in downtown Valdosta, near the courthouse, restaurants, shops, offices, and other downtown destinations. It is within a designated Opportunity Zone. Potential tax credits or redevelopment incentives require independent verification.
Key Highlights
- Approximately 6,480 square feet in a two‑story brick building
- Built in 1935; interior stripped to the studs
- C‑D Downtown Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,460
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,069,200
$1.1M
Cap Rate 7%
$763,714
$763.7K
Cap Rate 9%
$594,000
$594.0K
Market Conditions
NOI Build-Up for 6,480 SF
Gross rent
$97.2K $15.00/SF
− Vacancy
−$11.7K −$1.80/SF
EGI
$85.5K $13.20/SF
− OpEx
−$32.1K −$4.95/SF
NOI
$53.5K $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 Rate 5%
$1,069,200
Cap Rate 7%
$763,714
Cap Rate 9%
$594,000
Alternative Uses
Best Use
Mixed Use
$763.7K
$668.3K – $891.0K
NOI $53,460 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$983.8K
$860.8K – $1.15M
NOI $68,864 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,157
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - The brick interior is stripped to its framing, creating a renovation project within a downtown commercial corridor.
Where is this mixed-use property located?
The property is located at 108 N Patterson St Valdosta, GA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Approximately 6,480 square feet in a two‑story brick building; Built in 1935; interior stripped to the studs; C‑D Downtown Commercial zoning
