Remodeled Flex Space with Loading
For Sale
$599,000
1600 E Oglethorpe Blvd, Albany, GA 31705
Commercial Sale, Albany, GA
Property Size8,050 SF
Price / SF$74.41
Days on Market47
Property Features for 1600 E Oglethorpe Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Hwy 82 & Hwy 19 in East Albany
Subdivision
Northeast Albany
Standard status
Active
APN
00011
Size
8,050 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
same as in deed bk 4846 and page 245 in DoCo Cthse
Tax Annual Amount
1900
Legal Description
same as in deed bk 4846 and page 245 in DoCo Cthse
Amenities
expansive open showroom
multiple retail display areas
office space
three restrooms
employee break room
storage areas
loading dock
commercial kitchen/preparation area
flexible warehouse space
Building Details
Year built
1978
Floors in Building
1
Number of units
1
Listing Agency:
The Brokerage Real Estate Company
(229) 376-8917
Listed By:
Lisa Davis
(229) 376-8917
Added: Jul 14
Changed: Aug 28
Last Checked: Aug 29 at 11:06PM
MLS# 169540
Copyright © 2026 Albany Board of Realtors and Southwest Georgia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space property combines an open showroom with retail display areas, offices, storage, a commercial kitchen and preparation area, employee break room, three restrooms, a loading dock, and warehouse space. The building was remodeled in 2023, providing a refreshed interior within a structure originally built in 1978. The sale includes the real estate only; business operations, inventory, equipment, fixtures, and trade name are excluded unless separately negotiated.
Located at 1600 E Oglethorpe Blvd in Albany, the property provides access to US Highway 19 and the Highway 82 interchange. The site is minutes from downtown, Marine Base LC, Phoebe Putney Memorial Hospital, Miller Coors, Proctor & Gamble, and Interstate 75. Its combination of showroom, office, preparation, storage, loading, and warehouse areas supports a range of commercial configurations without assigning a specific operating use.
Located at 1600 E Oglethorpe Blvd in Albany, the property provides access to US Highway 19 and the Highway 82 interchange. The site is minutes from downtown, Marine Base LC, Phoebe Putney Memorial Hospital, Miller Coors, Proctor & Gamble, and Interstate 75. Its combination of showroom, office, preparation, storage, loading, and warehouse areas supports a range of commercial configurations without assigning a specific operating use.
Key Highlights
- 8,050 square feet of commercial space
- Remodeled in 2023; original construction dates to 1978
- Open showroom with retail display areas and flexible warehouse space
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
$44,960
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
7.51%
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%
$899,200
$899.2K
Cap Rate 7%
$642,286
$642.3K
Cap Rate 9%
$499,556
$499.6K
Market Conditions
NOI Build-Up for 8,050 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
$75.3K $9.36/SF
− Vacancy
−$6.2K −$0.77/SF
EGI
$69.2K $8.59/SF
− OpEx
−$24.2K −$3.01/SF
NOI
$45.0K $5.59/SF
Area
Dougherty County, GA
Vacancy
8.20%
Lease Rate
$9.36 /SF/Yr
Expense Ratio
35.00%
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%
$899,200
Cap Rate 7%
$642,286
Cap Rate 9%
$499,556
Alternative Uses
Best Use
Retail
$864.6K
$756.5K – $1.01M
NOI $60,520 @ 7.0% cap · market cap 10.10%
Second Best
Flex RnD
$642.3K
$562.0K – $749.3K
NOI $44,960 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$1.58M
$1.39M – $1.85M
NOI $110,897 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 31705, GA
29,858
Population
12,829
Households
2.3
Avg Household Size
35
Median Age
12%
College-Educated
80%
High-School Grad
140.4 sq mi
ZIP Area
213
Density / Sq Mi
$37,210
Median Household Income
$26,836
Median Earnings
$852
Median Rent
$101,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with showroom, warehouse, office, kitchen, storage, and multiple restrooms.
Where is this flex space located?
The property is located at 1600 E Oglethorpe Blvd Albany, GA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 8,050 square feet of commercial space; Remodeled in 2023; original construction dates to 1978; Open showroom with retail display areas and flexible warehouse space
