Historic Mixed-Use
113-115 N Patterson Street, Valdosta, GA 31601
For Sale
$995,000
Residential Income, Valdosta, GA
Property Size7,200 SF
Lot Size0.08 Acres
Price / SF$138.19
Days on Market52
Property Features for 113-115 N Patterson Street
General Information
Property type
Property subtype
Zoning
Parking features
Interior features
Exterior features
Appliances
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Floors in Building
Flooring type
Building materials
Listing Agency:
COLDWELL BANKER PREMIER REAL E
(229) 244-3535
Listed By:
John Courson · License GA #342868
(229) 251-4632
Added: Sep 22
Changed: Oct 17
Last Checked: Nov 12 at 9:06AM
MLS# 155099
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.
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Investment Insights
Based on property information with market context.
Located at 113-115 N Patterson Street in downtown Valdosta, this 7,200-square-foot, two-story mixed-use property combines 3,600 square feet of ground-floor retail with four efficiency-style apartments. The configuration supports five separate income streams and includes individually metered residential units, with utilities billed directly to tenants by service providers.
The building retains historic architectural elements, including a brick façade, broad storefront windows, exposed brick, hardwood floors, tall windows, and pressed-metal ceilings. The retail level features an open plan and an elevated mezzanine office overlooking the main floor. Property improvements include central heating and cooling, public water and sewer, a sprinkler system, and on-street parking. The property is zoned C-D and includes refrigerators, electric ranges, and dishwashers.
The building retains historic architectural elements, including a brick façade, broad storefront windows, exposed brick, hardwood floors, tall windows, and pressed-metal ceilings. The retail level features an open plan and an elevated mezzanine office overlooking the main floor. Property improvements include central heating and cooling, public water and sewer, a sprinkler system, and on-street parking. The property is zoned C-D and includes refrigerators, electric ranges, and dishwashers.
Key Highlights
- 7,200 SF two‑story mixed‑use building with 3,600 SF of ground‑floor retail
- Four efficiency‑style apartments above the commercial space
- Five separate income streams across retail and residential components
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.
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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
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story configuration combines street-level retail with four efficiency apartments.
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 with 3,600 SF of ground‑floor retail; Four efficiency‑style apartments above the commercial space; Five separate income streams across retail and residential components
