Mixed-Use Property With
For Sale
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2325 Milledgeville Rd, Augusta, GA
Mixed-use property featuring warehouse, salon, and parking lot.
Property Size3,530 SF
Lot Size1.11 Acres
Price / SF$113.03
Days on Market926
Property Features for 2325 Milledgeville Rd
General Information
Standard status
Active
Size
3,530 SF
Lot size
1.11 Acres
Property subtype
OFFICE
Listing Agency:
Sherman & Hemstreet - Augusta
(706) 722-8334
Listed By:
Joe Edge
Source:
Moodyscre
Added: Jan 18, 2024
Changed: Jul 6
Last Checked: Jul 21 at 4:01AM
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 Sherman & Hemstreet - Augusta
Investment Insights
Based on property information with market context.
This mixed-use property, totaling 3,530 square feet, features three units. One unit is a warehouse in the rear, which is in high demand in the area and has a long-term tenant in place with a new multi-year lease. The front building houses a new salon that recently signed a 2-year lease. The property has undergone numerous improvements. The middle space is a parking area leased to a large medical group with locations nationwide, which purchased the building next door in 2022 for $850,000 and is investing substantially in renovations. This medical group's site has limited parking, necessitating the 10-year parking lot lease at this location, which includes renewal options. The rental rates on the warehouse and salon are below market.
Key Highlights
- Mixed‑use property offering diversified income streams from 3 units.
- Benefit from a long‑term parking lease with a large medical group (nationwide locations) for 10 years with renewal options.
- Warehouse unit with a long‑term tenant in place with a new multi‑year lease.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.7k | $9.84 |
| − Vacancy | −$3.0k | −$0.85 |
| EGI | $31.7k | $8.99 |
| − OpEx | −$4.8k | −$1.35 |
| NOI | $27.0k | $7.64 |
3,530 SF · lease $9.84/SF/yr · vacancy 8.60% · expense 15.00%
Alternative Uses
Best Use
Mixed Use
$612.7K
$536.1K – $714.8K
NOI $42,890 @ 7.0% cap · market cap 10.75%
Second Best
Retail
$561.8K
$491.6K – $655.4K
NOI $39,324 @ 7.0% cap · market cap 9.86%
Theoretical Best
Office A
$1.11M
$974.9K – $1.30M
NOI $77,995 @ 7.0% cap · market cap 19.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring warehouse, salon, and parking lot.
Where is this mixed-use property located?
The property is located at 2325 Milledgeville Rd Augusta, GA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Mixed‑use property offering diversified income streams from 3 units.; Benefit from a long‑term parking lease with a large medical group (nationwide locations) for 10 years with renewal options.; Warehouse unit with a long‑term tenant in place with a new multi‑year lease.
