Two-Story Brick
For Sale
Contact for pricing
Pending
132 N Patterson St, Valdosta, GA 31602
Restaurant property with rooftop dining, a private event room, multiple bar areas, and front and rear entrances.
Property Size4,656 SF
Days on Market844
Property Features for 132 N Patterson St
General Information
Standard status
Pending
Size
4,656 SF
Property subtype
Retail
Zoning
C-D
Additional Details
Business Included
Yes
Equipment Included
Yes
Amenities
rooftop bar
private dining room
second floor bar
Building Details
Year Built
1900
Buildings
1
Stories
2
Construction
brick
Listing Agency:
REAL LIVING REALTY ADVISORS
(229) 560-5889
Listed By:
Tammy Borders · License #207186
Source:
Crexi
Added: May 9, 2024
Changed: Aug 29
Last Checked: Aug 29 at 6:36PM
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 REAL LIVING REALTY ADVISORS
Investment Insights
Based on property information with market context.
Built in 1900, this 4,656-square-foot, two-story restaurant property features interior brick construction and a finished rooftop deck. The layout includes a main dining room, a private room for larger parties, a second-floor bar, and rooftop bar and dining areas. Building and restaurant equipment are included in the offering, supporting continued restaurant use. Interior walls have been recently painted, and the rooftop deck has also been painted.
The property is located in downtown Valdosta and offers views toward the historic downtown courthouse. Access is provided through both front and rear entrances. Parking is available on the street and in the rear Toombs St parking lot. The property is zoned C-D.
The property is located in downtown Valdosta and offers views toward the historic downtown courthouse. Access is provided through both front and rear entrances. Parking is available on the street and in the rear Toombs St parking lot. The property is zoned C-D.
Key Highlights
- 4,656 SF two‑story restaurant building constructed in 1900
- Main dining room plus private room for larger parties
- Second‑floor bar and rooftop bar with dining
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
$42,960
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
7.47%
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%
$859,200
$859.2K
Cap Rate 7%
$613,714
$613.7K
Cap Rate 9%
$477,333
$477.3K
Market Conditions
NOI Build-Up for 4,656 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
$61.5K $13.20/SF
− Vacancy
−$4.2K −$0.90/SF
EGI
$57.3K $12.30/SF
− OpEx
−$14.3K −$3.08/SF
NOI
$43.0K $9.23/SF
Area
Lowndes County, GA
Vacancy
6.80%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
25.00%
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%
$859,200
Cap Rate 7%
$613,714
Cap Rate 9%
$477,333
Alternative Uses
Best Use
Specialty Retail
$613.7K
$537.0K – $716.0K
NOI $42,960 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$706.9K
$618.5K – $824.7K
NOI $49,480 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,157
Businesses Nearby
34k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 37%
Home Improvements & Furnishings 13%
Electronics 2%
Church's Chicken
Dining
9,867 visits/mo
0.2 miles
Family Dollar
Shops & Services
5,195 visits/mo
0.4 miles
Langdale Ford
Shops & Services
4,086 visits/mo
0.3 miles
SUBWAY
Dining
2,656 visits/mo
0.4 miles
True Value Hardware
Home Improvements & Furnishings
2,323 visits/mo
0.1 miles
Demographics for 31602, GA
35,999
Population
15,201
Households
2.4
Avg Household Size
33
Median Age
32%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
902
Density / Sq Mi
$55,980
Median Household Income
$34,919
Median Earnings
$1,046
Median Rent
$197,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with rooftop dining, a private event room, multiple bar areas, and front and rear entrances.
Where is this conventional restaurant located?
The property is located at 132 N Patterson St Valdosta, GA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 4,656 SF two‑story restaurant building constructed in 1900; Main dining room plus private room for larger parties; Second‑floor bar and rooftop bar with dining
