Historic Mixed-Use
New
For Sale
$995,000
113 N Patterson St, Valdosta, GA 31601
Street-level retail and four upper-floor apartments combine in a two-story downtown property.
Property Size7,200 SF
Price / SF$138.19
Days on Market2
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Property Features for 113 N Patterson St
General Information
Standard status
Active
Size
7,200 SF
Property subtype
Multi-Family
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 Commercial Premier Real Estate
Listed By:
John Courson · License #342868
(229) 244-3535
Source:
Commercialcafe
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:10AM
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 Commercial Premier Real Estate
Investment Insights
Based on property information with market context.
This two-story mixed-use property contains approximately 7,200 SF, with about 3,600 SF of retail space at street level and four efficiency-style apartments upstairs. The commercial floor has an open layout, exposed brick, hardwood floors, tall windows and pressed-metal ceilings. A mezzanine-style office overlooks the retail area. The building also features a distinctive façade and expansive storefront.
Located at 113 N Patterson St in downtown Valdosta, the property has frontage on N Patterson Street. Each apartment is individually metered, with utility providers billing tenants directly. The property has five separate income streams across its retail and residential components.
Located at 113 N Patterson St in downtown Valdosta, the property has frontage on N Patterson Street. Each apartment is individually metered, with utility providers billing tenants directly. The property has five separate income streams across its retail and residential components.
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 space
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
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Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level retail and four upper-floor apartments combine in a two-story downtown property.
Where is this mixed-use property located?
The property is located at 113 N Patterson St 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 space
