24-Unit Apartment
For Sale
$2,150,000
170 Westwood Dr, Thomson, GA 30824
Three-building community with a mixed unit profile, on-site laundry, and professional management.
Property Size21,586 SF
Days on Market42
Property Features for 170 Westwood Dr
General Information
Standard status
Active
Size
21,586 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
16 x 2BR/2BA, 4 x 2BR/1.5BA, 4 x 1BR/1BA
Multifamily Units
24
Amenities
on-site community laundry facility
Building Details
Building Size
21,586 SF
Year Built
1991
Buildings
3
Units
24
Listing Agency:
Meybohm Commercial Properties
(706) 736-0700
Listed By:
Danielle Meikrantz · License #401159
Source:
Commercialcafe
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 29 at 1:27PM
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 Meybohm Commercial Properties
Investment Insights
Based on property information with market context.
Seymour West Apartments comprises three residential buildings with 24 units in a varied configuration. The property includes 16 two-bedroom, two-bath apartments, four two-bedroom units with one-and-a-half baths, and four one-bedroom, one-bath apartments. Several residences have been updated, and an on-site community laundry facility provides an additional property feature. The apartments are 100% occupied and professionally managed.
The community is located at 170 Westwood Dr in Thomson, Georgia, near Cobbham Road and GA-150. Interstate 20 is less than two miles away, providing access toward Augusta and Fort Eisenhower. Downtown Thomson, Thomson-McDuffie Regional Medical Center, retailers, schools, and local employers are also located nearby. Augusta is approximately 35 miles east of the property.
The community is located at 170 Westwood Dr in Thomson, Georgia, near Cobbham Road and GA-150. Interstate 20 is less than two miles away, providing access toward Augusta and Fort Eisenhower. Downtown Thomson, Thomson-McDuffie Regional Medical Center, retailers, schools, and local employers are also located nearby. Augusta is approximately 35 miles east of the property.
Key Highlights
- 24 units across three apartment buildings
- Unit mix includes 16 two‑bedroom, two‑bath units; 4 two‑bedroom, one‑and‑a‑half‑bath units; and 4 one‑bedroom, one‑bath units
- 100% occupied and professionally managed
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
$195,537
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
9.09%
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%
$3,910,740
$3.9M
Cap Rate 7%
$2,793,386
$2.8M
Cap Rate 9%
$2,172,633
$2.2M
Market Conditions
NOI Build-Up for 21,586 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
$388.5K $18.00/SF
− Vacancy
−$33.0K −$1.53/SF
EGI
$355.5K $16.47/SF
− OpEx
−$160.0K −$7.41/SF
NOI
$195.5K $9.06/SF
Area
McDuffie County, GA
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$3,910,740
Cap Rate 7%
$2,793,386
Cap Rate 9%
$2,172,633
Alternative Uses
Best Use
Apartment 5plus
$2.79M
$2.44M – $3.26M
NOI $195,537 @ 7.0% cap · market cap 9.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.81M
$5.96M – $7.95M
NOI $476,938 @ 7.0% cap · market cap 22.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Explore this area
Business Placement
Demographics for 30824, GA
16,832
Population
7,548
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
87%
High-School Grad
191.7 sq mi
ZIP Area
88
Density / Sq Mi
$54,214
Median Household Income
$35,804
Median Earnings
$810
Median Rent
$158,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-building community with a mixed unit profile, on-site laundry, and professional management.
Where is this apartment building located?
The property is located at 170 Westwood Dr Thomson, GA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 24 units across three apartment buildings; Unit mix includes 16 two‑bedroom, two‑bath units; 4 two‑bedroom, one‑and‑a‑half‑bath units; and 4 one‑bedroom, one‑bath units; 100% occupied and professionally managed
