Flexible Duplex
For Sale
$259,900
1115 Slater St #2, Valdosta, GA 31602
R-P zoning, multiple entrances, and adaptable layouts support current office or residential use.
Property Size1,976 SF
Days on Market16
Property Features for 1115 Slater St #2
General Information
Standard status
Active
Size
1,976 SF
Property subtype
Residential Income
Zoning
R-P
Taxes and HOA fees
Annual Taxes
$2,340
Building Details
Building Size
1,976 SF
Year Built
1976
Stories
1
Listing Agency:
Southern Classic Realtors
(678) 635-8877
Listed By:
Samuel Straka · License #406171
Source:
Cooperrealestate
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 5:53PM
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 Southern Classic Realtors
Investment Insights
Based on property information with market context.
This 1976 duplex property is currently configured as a real estate office and includes 8 potential bedrooms, 2 full baths, 1 half bath, and 1 kitchen. Four separate entrances provide distinct access points, while the interior can be divided in several configurations. The property may also be converted back to duplex residential use, as supported by the existing layout and R-P zoning.
The property borders the VSU campus and is within walking distance of campus amenities. Recent improvements include a new fence and new HVAC, adding practical updates to the existing structure. Its combination of office functionality, residential conversion potential, and flexible interior arrangement supports multiple occupancy configurations.
The property borders the VSU campus and is within walking distance of campus amenities. Recent improvements include a new fence and new HVAC, adding practical updates to the existing structure. Its combination of office functionality, residential conversion potential, and flexible interior arrangement supports multiple occupancy configurations.
Key Highlights
- R‑P zoning supports office and duplex residential use
- 8 potential bedrooms, 2 full baths, 1 half bath, and 1 kitchen
- 4 separate entrances allow multiple access configurations
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
$15,259
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
5.87%
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%
$305,180
$305.2K
Cap Rate 7%
$217,986
$218.0K
Cap Rate 9%
$169,544
$169.5K
Market Conditions
NOI Build-Up for 1,976 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
$26.1K $13.20/SF
− Vacancy
−$5.7K −$2.90/SF
EGI
$20.3K $10.30/SF
− OpEx
−$5.1K −$2.57/SF
NOI
$15.3K $7.72/SF
Area
Lowndes County, GA
Vacancy
22.00%
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%
$305,180
Cap Rate 7%
$217,986
Cap Rate 9%
$169,544
Alternative Uses
Best Use
Office B
$218.0K
$190.7K – $254.3K
NOI $15,259 @ 7.0% cap · market cap 5.87%
Second Best
Multifamily LT 5
$188.5K
$164.9K – $219.9K
NOI $13,192 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$300.0K
$262.5K – $350.0K
NOI $20,999 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 31602, GA
35,999
Population
15,201
Households
2.4
Avg Household Size
33
Median Age
32%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
902
Density / Sq Mi
$55,980
Median Household Income
$34,919
Median Earnings
$1,046
Median Rent
$197,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R-P zoning, multiple entrances, and adaptable layouts support current office or residential use.
Where is this duplex located?
The property is located at 1115 Slater St #2 Valdosta, GA.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: R‑P zoning supports office and duplex residential use; 8 potential bedrooms, 2 full baths, 1 half bath, and 1 kitchen; 4 separate entrances allow multiple access configurations
