Mixed-Use Building with Loft
For Sale
Contact for pricing
Pending
114 N Patterson Street, Valdosta, GA 31601
C-D-zoned property combines street-level commercial space with two updated loft apartments and rear access to public parking.
Property Size3,600 SF
Days on Market239
Property Features for 114 N Patterson Street
General Information
Standard status
Pending
Size
3,600 SF
Total Parking Spaces
40
Property subtype
Special Purpose
Zoning
C-D
Lease Type
Gross
Net Operating Income
$29,400
Additional Details
Gross Income
$42,000
Building Details
Year Built
1902
Year Renovated
2021
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Building Size
3,600 SF
Listing Agency:
Coldwell Banker Commercial Premier Real Estate
(229) 244-3535
Listed By:
John Courson · License #342868
Source:
Crexi
Added: Jan 4
Changed: Aug 30
Last Checked: Aug 30 at 1:46PM
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 C-D-zoned mixed-use building contains approximately 3,600 SF across a street-facing commercial level and two loft apartments above. The ground floor has storefront windows, a recessed entrance, and an existing dance studio lease. Upstairs, both residences feature open living areas, hardwood floors, and updated kitchens and bathrooms; one includes a raised bedroom area overlooking the living space. The building was constructed in 1902 and is currently occupied.
Rear access connects the property directly to the City of Valdosta-owned Toombs Street public parking lots, serving both the commercial space and residential units. The property is located at 114 N Patterson Street in downtown Valdosta, surrounded by restaurants, shops, offices, and entertainment venues. Its commercial-residential configuration supports an owner-occupant or mixed-use investment strategy without relying on a single use.
Rear access connects the property directly to the City of Valdosta-owned Toombs Street public parking lots, serving both the commercial space and residential units. The property is located at 114 N Patterson Street in downtown Valdosta, surrounded by restaurants, shops, offices, and entertainment venues. Its commercial-residential configuration supports an owner-occupant or mixed-use investment strategy without relying on a single use.
Key Highlights
- Approximately 3,600 SF mixed‑use building with commercial space and two loft apartments
- C‑D zoning supports the property's mixed‑use configuration
- Two loft apartments include hardwood floors and updated kitchens and baths
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
$29,700
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
6.60%
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%
$594,000
$594.0K
Cap Rate 7%
$424,286
$424.3K
Cap Rate 9%
$330,000
$330.0K
Market Conditions
NOI Build-Up for 3,600 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
$54.0K $15.00/SF
− Vacancy
−$6.5K −$1.80/SF
EGI
$47.5K $13.20/SF
− OpEx
−$17.8K −$4.95/SF
NOI
$29.7K $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 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%
$594,000
Cap Rate 7%
$424,286
Cap Rate 9%
$330,000
Alternative Uses
Best Use
Mixed Use
$424.3K
$371.3K – $495.0K
NOI $29,700 @ 7.0% cap · market cap 6.60%
Second Best
Office B
$397.1K
$347.5K – $463.3K
NOI $27,799 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$546.5K
$478.2K – $637.6K
NOI $38,258 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-D-zoned property combines street-level commercial space with two updated loft apartments and rear access to public parking.
Where is this mixed-use property located?
The property is located at 114 N Patterson Street Valdosta, GA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Approximately 3,600 SF mixed‑use building with commercial space and two loft apartments; C‑D zoning supports the property's mixed‑use configuration; Two loft apartments include hardwood floors and updated kitchens and baths
