Two-Story Mixed-Use
New
For Sale
$625,000
108 N Patterson, Valdosta, GA 31601
Commercial Sale, Valdosta, GA
Property Size6,480 SF
Lot Size0.07 Acres
Price / SF$96.45
Days on Market6
Property Features for 108 N Patterson
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-D
Subdivision
Downtown
Standard status
Active
APN
0120A 141
Size
6,480 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Blk 9
Tax Annual Amount
3278
Legal Description
Blk 9
Listing Agency:
Prime Properties Services, LLC
(229) 474-4051
Listed By:
Howard Dasher, III · License #363996
(229) 834-1079
Added: Sep 22
Last Checked: Sep 27 at 1:06PM
MLS# 155104
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.
Built in 1935, this two-story brick property contains approximately 6,480 square feet and is offered in its current as-is condition. The interior has been stripped to the studs, creating a renovation project within a mixed-use format. The ground floor is identified as suitable for retail, restaurant, professional office, or other commercial space, while the upper level may accommodate apartments or additional commercial use, subject to zoning and permitting verification.
The property occupies 0.07 acres at 108 N Patterson in downtown Valdosta and is zoned C-D Downtown Commercial. It is near the courthouse, restaurants, shops, offices, and other downtown attractions. The site is also within a designated Opportunity Zone. Buyers should independently confirm permitted uses, building area, and eligibility for any redevelopment or historic-preservation programs.
The property occupies 0.07 acres at 108 N Patterson in downtown Valdosta and is zoned C-D Downtown Commercial. It is near the courthouse, restaurants, shops, offices, and other downtown attractions. The site is also within a designated Opportunity Zone. Buyers should independently confirm permitted uses, building area, and eligibility for any redevelopment or historic-preservation programs.
Key Highlights
- Approximately 6,480 square feet in a two‑story building
- 0.07‑acre property at 108 N Patterson, Valdosta, GA 31601
- C‑D Downtown Commercial zoning
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
$53,460
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
8.55%
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%
$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
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
$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 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%
$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
Retail
$730.7K
$639.4K – $852.5K
NOI $51,152 @ 7.0% cap · market cap 8.18%
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.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,157
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
0.2 miles
Family Dollar
Shops & Services
5,195 visits/mo
0.4 miles
Langdale Ford
Shops & Services
4,086 visits/mo
0.3 miles
SUBWAY
Dining
2,656 visits/mo
0.4 miles
True Value Hardware
Home Improvements & Furnishings
2,323 visits/mo
0.1 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick commercial property requiring renovation, with potential for retail, restaurant, office, or residential uses.
Where is this mixed-use property located?
The property is located at 108 N Patterson 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 building; 0.07‑acre property at 108 N Patterson, Valdosta, GA 31601; C‑D Downtown Commercial zoning
