24-Unit Apartment
New
For Sale
$2,150,000
170 Westwood Drive, Thomson, GA 30824
Commercial Sale, Thomson, GA
Property Size21,584 SF
Lot Size1.70 Acres
Price / SF$99.61
Days on Market3
Property Features for 170 Westwood Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R2
Parking features
Parking Lot
Directions
From I-20, take Exit 172 (US-78/GA-17 toward Thomson/Washington) and travel south toward Thomson on Washington Road. Continue toward downtown Thomson, then turn onto Westwood Drive. The property, Seymour West Apartments, 170 Westwood Drive, will be located just off Thomson's primary retail corridor with convenient access back to I-20.
Standard status
Active
APN
0t08a054
Size
21,584 SF
Lot size
1.70 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
0T08A054
Legal Description
0T08A054
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
community laundry facility
Building Details
Year built
1991
Building materials
Block, Brick, Wood Frame
Roof type
Composition
Listing Agency:
Meybohm Commercial Properties
(706) 736-0700
Listed By:
Danielle Meikrantz · License #401159
(706) 284-8359
Added: Aug 26
Last Checked: Aug 28 at 10:06PM
MLS# 100599015
Copyright © 2026 Hive 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.
Seymour West is a 24-unit apartment property arranged across three buildings on 1.7 acres. The 21,584-square-foot asset includes 16 two-bedroom, two-bath units, four two-bedroom units with 1.5 baths, and four one-bedroom, one-bath units. Several apartments have been updated. Construction includes block, brick, and wood framing, with composition roofing, electric and natural gas heating, central air, public water, public sewer, and a parking lot. Built in 1991, the property is zoned R2 and currently reports 100% occupancy.
The property is located at 170 Westwood Drive in Thomson, Georgia, near Interstate 20 and downtown Thomson. Augusta is approximately 35 miles east, with Fort Gordon and other employment centers also identified in the surrounding regional context. Management is handled by a local management company, and the property includes a shared laundry facility with washer and dryer units.
The property is located at 170 Westwood Drive in Thomson, Georgia, near Interstate 20 and downtown Thomson. Augusta is approximately 35 miles east, with Fort Gordon and other employment centers also identified in the surrounding regional context. Management is handled by a local management company, and the property includes a shared laundry facility with washer and dryer units.
Key Highlights
- 24‑unit apartment property across 3 buildings
- Unit mix includes 16 two‑bedroom, 2‑bath units; 4 two‑bedroom, 1.5‑bath units; and 4 one‑bedroom, one‑bath units
- 100% occupied with several updated units
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
$195,519
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%
$3,910,380
$3.9M
Cap Rate 7%
$2,793,129
$2.8M
Cap Rate 9%
$2,172,433
$2.2M
Market Conditions
NOI Build-Up for 21,584 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%
$3,910,380
Cap Rate 7%
$2,793,129
Cap Rate 9%
$2,172,433
Alternative Uses
Best Use
Apartment 5plus
$2.79M
$2.44M – $3.26M
NOI $195,519 @ 7.0% cap · market cap 9.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.81M
$5.96M – $7.95M
NOI $476,894 @ 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
Location Intelligence
Trade Area within ½ mile
125
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Three-building multifamily property with varied apartment layouts, central air, public utilities, and on-site parking.
Where is this apartment building located?
The property is located at 170 Westwood Drive 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‑unit apartment property across 3 buildings; Unit mix includes 16 two‑bedroom, 2‑bath units; 4 two‑bedroom, 1.5‑bath units; and 4 one‑bedroom, one‑bath units; 100% occupied with several updated units
