Mixed-Use Building with
For Sale
$995,000
113-115 N Patterson Street, Valdosta, GA 31601
Street-level retail includes an open floor plan and mezzanine office, with four apartments on the upper level.
Property Size7,200 SF
Price / SF$138.19
Days on Market20
Property Features for 113-115 N Patterson Street
General Information
Standard status
Active
Size
7,200 SF
Property subtype
Multifamily
Zoning
C-D
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x efficiency
Multifamily Units
4
Additional Details
Asking Price
$995,000
Building Details
Building Size
7,200 SF
Buildings
1
Stories
2
Units
5
Tenancy
Multi
Listing Agency:
COLDWELL BANKER PREMIER REAL E
Listed By:
John Courson · License #342868
(229) 251-4632
Source:
Cbcworldwide
Added: Sep 26
Changed: Oct 10
Last Checked: Oct 14 at 7:43PM
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
Investment Insights
Based on property information with market context.
This two-story mixed-use building contains approximately 7,200 SF, with about 3,600 SF of ground-floor retail and four efficiency-style apartments above. The commercial floor has an open layout and a mezzanine-style office overlooking the space. Architectural elements include exposed brick, hardwood floors, tall windows, pressed-metal ceilings and a distinctive façade. The property is configured for five income streams across the retail space and apartments.
Located at 113-115 N Patterson Street in downtown Valdosta, the building has storefront frontage along the street. The apartments are individually metered, with utilities billed directly to tenants by the providers. The property is zoned C-D.
Located at 113-115 N Patterson Street in downtown Valdosta, the building has storefront frontage along the street. The apartments are individually metered, with utilities billed directly to tenants by the providers. The property is zoned C-D.
Key Highlights
- Approximately 7,200 SF across two stories
- About 3,600 SF of ground‑floor retail space
- Four efficiency‑style apartments above the retail level
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level retail includes an open floor plan and mezzanine office, with four apartments on the upper level.
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: Approximately 7,200 SF across two stories; About 3,600 SF of ground‑floor retail space; Four efficiency‑style apartments above the retail level
