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    Historic Satsuma Hotel Multi-Use Property Title is generated by Realmo AI

    1748 Georgia Street, Alford, FL 32420

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    For Sale
    $600,000

    Unique 5,076 sq ft property ideal for various uses.

    Property size:
    5,076 SF
    Price / SF:
    $118/SF
    Added:
    May 27, 2025
    Days on Market:
    365
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 1748 Georgia Street

    General Information

    Standard status
    Active
    Size
    5,076 SF

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    JOELLE E ROBERTS

    Listing agent JOELLE E ROBERTS

    Listing office FLORIDA SHOWCASE REALTY, LLC

    Listing date May 27, 2025

    Source Corcoran

    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 FLORIDA SHOWCASE REALTY, LLC

    HighLights

    • Grandfathered commercial/residential multi‑use status in downtown Alford.
    • Significant infrastructure upgrades including a commercial sewage system (Sept 2025) and a modern water system (Dec 2024).
    • Sustainable features including solar panels with Tesla battery backup (2020) and a tin roof (2018).
    • Spacious 5,076 sq ft building with 18+ rooms, 8 bedrooms, 3 full baths, and 2 half baths.
    • Unique historic details such as heart pine floors and a large entertainment hall with antique sliding doors.
    • Secure and private outdoor space with a fenced yard and two electric gates.

    Overview

    The historic Satsuma Hotel, a 5,076 sq ft property on a 0.64-acre lot in downtown Alford, Florida, is grandfathered in as a commercial/residential multi-use building. Currently used as a private residence, this versatile space features over 18 rooms, including 8 bedrooms, 3 full modern baths, and 2 half baths. It is suitable for use as a boutique inn, event venue, private residence, or live/work setup. The interior includes heart pine floors, restored original cabinetry, a large 15'x46' entertainment hall with antique sliding doors, a spacious pantry, laundry room, modern stainless appliances, and negotiable vintage kitchen pieces. Upgrades include a tin roof (2018), solar panels with Tesla battery backup (2020), central HVAC on each floor, Berber commercial carpet, bead board insulation, shotgun-style hallways, and 11' ceilings. The third floor serves as an art studio with additional attic storage potential. Outdoor features include a fenced yard with two electric gates, a 2-car garage, three porches, ample guest parking, an equipment shed with attached guest bath, and an exterior staircase with a wench for lifting items to upper floors. Federal grants have funded major infrastructure improvements including a commercial sewage system (to be completed Sept 2025), a city water tower and modern water system (completed Dec 2024), freshly paved roads, and updated street signage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bed & breakfasts

    Suggested Use

    Restaurant Spa & Massage Center Big Box & Wholesale Store Hair Salon Nail Salon Department Store Grocery & Convenience Store Electronics & Wireless Store Grocery & Convenience Store Computer & Electronic Repair

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

    Location Insight

    • Map
    • Local Demand
    City
    Alford
    County
    Jackson
    State
    Florida
    Longitude
    -85.3918
    Latitude
    30.6933

    FAQs

    What type of property is this?
    Bed & breakfast - Unique 5,076 sq ft property ideal for various uses.
    Where is this bed & breakfast located?
    The property is located at 1748 Georgia Street Alford, FL.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Grandfathered commercial/residential multi‑use status in downtown Alford.; Significant infrastructure upgrades including a commercial sewage system (Sept 2025) and a modern water system (Dec 2024).; Sustainable features including solar panels with Tesla battery backup (2020) and a tin roof (2018).
    (850) 557-0120
    We can help!
    Listing Contact
    JOELLE E ROBERTS
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    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.

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