Historic Mixed-Use
113-115 N Patterson Street #*, Valdosta, GA 31601
For Sale
$995,000
Ground-floor retail is paired with four individually metered efficiency apartments above.
Property Size7,200 SF
Price / SF$138.19
Days on Market8
Property Features for 113-115 N Patterson Street #*
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Road Access
Utilities to Site
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Asking Price
Taxes and HOA fees
Annual Taxes
Amenities
Sprinkler System
Building Details
Building Size
Buildings
Stories
Tenancy
Listing Agency:
COLDWELL BANKER PREMIER REAL E
(229) 244-3535
Listed By:
John Courson · License GA #342868
(229) 251-4632
Source:
Garnerrealtygroupllc
Added: Nov 7
Changed: Nov 13
Last Checked: Nov 13 at 8:24PM
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 COLDWELL BANKER PREMIER REAL E
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 113–115 N Patterson Street, this two-story mixed-use property contains 7,200 SF, with 3,600 SF of retail on the ground floor and four efficiency apartments upstairs. The commercial floor has an open layout and a mezzanine-style office overlooking the space. Exposed brick, hardwood floors, tall windows, pressed-metal ceilings and a distinctive façade contribute historic architectural character. The apartments are individually metered, and utility providers bill residents directly.
The property is in downtown Valdosta and zoned C-D. Its five income streams consist of the retail space and four apartments. The combination of street-level commercial space and upper-floor residences gives the building a mixed-use configuration within the downtown core.
The property is in downtown Valdosta and zoned C-D. Its five income streams consist of the retail space and four apartments. The combination of street-level commercial space and upper-floor residences gives the building a mixed-use configuration within the downtown core.
Key Highlights
- 7,200 SF, two‑story mixed‑use building
- 3,600 SF of ground‑floor retail space
- Four efficiency apartments above the retail floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,400
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,000
$1.2M
Cap Rate 7%
$848,571
$848.6K
Cap Rate 9%
$660,000
$660.0K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$108.0K $15.00/SF
− Vacancy
−$13.0K −$1.80/SF
EGI
$95.0K $13.20/SF
− OpEx
−$35.6K −$4.95/SF
NOI
$59.4K $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%
$1,188,000
Cap Rate 7%
$848,571
Cap Rate 9%
$660,000
Alternative Uses
Best Use
Mixed Use
$848.6K
$742.5K – $990.0K
NOI $59,400 @ 7.0% cap · market cap 5.97%
Second Best
Retail
$811.9K
$710.5K – $947.3K
NOI $56,836 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$1.09M
$956.5K – $1.28M
NOI $76,516 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail is paired with four individually metered efficiency apartments above.
Where is this mixed-use property located?
The property is located at 113-115 N Patterson Street #* Valdosta, GA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 7,200 SF, two‑story mixed‑use building; 3,600 SF of ground‑floor retail space; Four efficiency apartments above the retail floor
