Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    135 S Wayne St Milledgeville, GA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Adaptable space suitable for restaurant, retail, or office use.

    Type:RETAIL
    Property size:
    3,450 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $134/SF
    Added:
    Jul 23, 2024
    Days on Market:
    646
    Last Refresh:
    Apr 5 at 11:17 pm

    Property Features for 135 S Wayne St

    General Information

    Standard status
    Active
    Size
    3,450 SF
    Lot size
    0.06 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Patricia Burns

    Listing agent Patricia Burns

    Listing office Fickling & Co. Commercial

    Listing date Jul 23, 2024

    Source Moodyscre

    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 Fickling & Co. Commercial

    Overview

    Versatile Building in Milledgeville, GA

    This building offers 2,450 square feet of open street-level storefront, making it suitable for a restaurant, brewery, bar, retail store, or office space. It also includes a 1,000 square foot unfurnished loft space with hardwood floors that could be developed into apartments. A full-length basement provides ample storage. Buyers have the option to add windows and outdoor access at the ground level, and an elevator can be installed for loft access. Recent upgrades include LED lighting, refinished floors, new paint, roof repairs, a new grease trap, a new freezer, and a new POS system with software. The property is located in Milledgeville, GA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    All American Porta ... Building Supply Coasties Bakery Bakery

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Milledgeville
    County
    Baldwin
    State
    Georgia
    Longitude
    -83.2271
    Latitude
    33.0803

    Nearby Similar for Sale

    • $750,000
      11,608 SF

      Milledgeville Retail/Automotive Service Facility

      11,608 SF retail/automotive facility on 0.56 acres.
      1890 N Columbia Street, Milledgeville, GA 31061
      View Details
    • $750,000
      11,608 SF

      Milledgeville Retail/Automotive Service Facility

      11,608 SF retail/automotive facility on 0.56 acres.
      1890 N Columbia Street, Milledgeville, GA 31061
      View Details
    • $399,000
      8,294 SF

      Milledgeville Retail Opportunity

      8,294 SF building on 0.52-acre lot near university.
      420 S WILKINSON STREET, Milledgeville, GA 31061
      View Details
    • $399,900
      4,311 SF

      High-Visibility Commercial Property on Columbia Street

      Prime commercial property on Milledgeville's main corridor with high visibility.
      1531 N Columbia Street, Milledgeville, GA 31061
      View Details
    • $395,000
      2,888 SF

      Downtown Milledgeville Versatile Commercial Gem

      Remodeled 2,888 sq ft property near Georgia Military College.
      121 E Baldwin Street, Milledgeville, GA 31061
      View Details
    • $349,900
      1,656 SF

      Two Income-Producing Duplex Buildings

      Two identical duplex buildings with tenants in place, great investment.
      2313 NE LAURA COURT, Milledgeville, GA 31061
      View Details
    • $299,000
      3,993 SF

      Milledgeville Retail/Warehouse Opportunity

      Corner retail/warehouse with high visibility and traffic in Milledgeville.
      1590 N Columbia Street, Milledgeville, GA 31061
      View Details
    • $1,569,210

      Premier Equestrian Estate Auction

      25-acre Milledgeville horse farm with luxury home and equestrian facilities.
      182 Corral Road NE, Milledgeville, GA 31061
      View Details
    • $298,900
      2,344 SF

      Commercial Building in Milledgeville, GA

      Commercial building with multiple rental spaces and parking.
      1013 Fernwood Drive, Milledgeville, GA 31061
      View Details
    • $299,000
      2,431 SF

      Milledgeville Multifamily Property For Sale

      Multifamily property near campus and downtown Milledgeville, Georgia.
      601 N Wayne St, Milledgeville, GA 31061
      View Details
    • $499,000
      960 SF

      Milledgeville Commercial Property For Sale

      Highly visible commercial property near Georgia Military College and Georgia College.
      111 ELBERT STREET, Milledgeville, GA 31061
      View Details
    • $499,000
      2,336 SF

      Adaptable Commercial Building in Milledgeville

      High-visibility commercial building suitable for retail, office, or service businesses.
      111 Elbert Street, Milledgeville, GA 31061
      View Details

    FAQs

    What type of property is this?
    Retail space - Adaptable space suitable for restaurant, retail, or office use.
    Where is this retail space located?
    The property is located at 135 S Wayne St Milledgeville, GA.
    What is the asking price?
    The asking price for this property is $465,000.
    What are key features of this property?
    This property features: Ideal location suitable for restaurant, brewery, bar, retail, or office space.; **2,450 SF of open street‑level storefront with potential for customization**.; 1,000 SF unfurnished loft space with hardwood floors, developable into apartment(s).
    (478) 803-4120 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Patricia Burns
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!