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    Mixed-Use Building in Downtown Lagrange Title is generated by Realmo AI

    119 Ridley Avenue, Lagrange, GA 30240

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    For Sale
    $3,750,000

    COMMERCIAL - Lagrange, GA

    Property size:
    22,651 SF
    Lot size:
    0.52 Acres
    Price / SF:
    $165/SF
    Added:
    Sep 23, 2025
    Days on Market:
    236
    Last Refresh:
    May 16 at 2:06 pm

    Property Features for 119 Ridley Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    0614W002017
    Size
    22,651 SF
    Lot size
    0.52 Acres

    Taxes and HOA fees

    Tax Year
    24
    Tax Annual Amount
    15166

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas, Electric (Heating)
    Cooling system
    Gas (Cooling), Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1900
    Flooring type
    Hardwood, Tile, Carpet
    Building materials
    Brick, Concrete
    Roof type
    Composition

    We can help!

    Listing Contact
    Jared T Jones
    Jared T Jones

    Listing agent Jared T Jones License #134913

    Listing office J.T. Jones & Associates Realty 211 Church Street, LaGrange, GA

    Listing date Sep 23, 2025

    MLS# 10619296

    Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown LaGrange location directly across from the courthouse and government center.
    • Substantial leasable space of approximately 18,600 SF in a three‑story mixed‑use building.
    • Meticulously renovated with premium office suites, elegant finishes, and a modern interior design.
    • Excellent visibility and strong pedestrian traffic on historic Ridley Avenue.
    • Convenient access to all three floors via elevator and multiple staircases.
    • Blend of historic charm and modern function appealing to both investors and tenants.

    Overview

    This three-story mixed-use building, with approximately 18,600 square feet of leasable space, is located in downtown Lagrange on Ridley Avenue, across from the courthouse and government center. The property has been renovated in recent years and features premium office suites and elegant finishes. The main lobby includes an elevator and multiple staircases for access to all three floors. The exterior architecture combines historic charm with modern function. The interiors are designed for professional and retail tenants. The property benefits from visibility, pedestrian traffic, and proximity to downtown institutions. This building offers a blend of character and modern performance.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $3.07M
    NOI $275,904 @ 9.00% cap · cautious / downside scenario
    Moderate
    $3.94M
    NOI $275,904 @ 7.00% cap · market / base-case scenario
    Aggressive
    $5.52M
    NOI $275,904 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $413.2k $18.24
    − Vacancy −$19.0k −$0.84
    EGI $394.1k $17.40
    − OpEx −$118.2k −$5.22
    NOI $275.9k $12.18
    22,651 SF · lease $18.24/SF/yr · vacancy 4.60% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $3.94M
    $3.45M – $4.60M (±1% cap)
    NOI $275,904 @ 7.0% cap · market cap 7.36%
    Second Best
    Office B
    $3.78M
    $3.31M – $4.41M (±1% cap)
    NOI $264,874 @ 7.0% cap · market cap 7.06%
    Theoretical Best
    Office A
    $5.07M
    $4.43M – $5.91M (±1% cap)
    NOI $354,773 @ 7.0% cap · market cap 9.46%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pro Wheels USA ... Freight Service Baker Wealth Group, ... Financial Advisor Forte HealthForce Employment Agency Amanda Eiland Hair Hair Salon Styles by XLG Hair Salon

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lagrange
    County
    Troup
    State
    Georgia
    Longitude
    -85.031389
    Latitude
    33.040232

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    FAQs

    What type of property is this?
    Office building - Three-story mixed-use building in the heart of downtown Lagrange.
    Where is this office building located?
    The property is located at 119 Ridley Avenue Lagrange, GA.
    What is the asking price?
    The asking price for this property is $3,750,000.
    What are key features of this property?
    This property features: Prime downtown LaGrange location directly across from the courthouse and government center.; Substantial leasable space of approximately 18,600 SF in a three‑story mixed‑use building.; Meticulously renovated with **premium office suites, elegant finishes, and a modern interior design.**
    (706) 333-7202
    We can help!
    Listing Contact
    Jared T Jones
    Jared T Jones
    Real Estate License ID: 134913
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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