Albany Mixed-Use Investment
For Sale
$599,900
1806 Oakridge Drive, Albany, GA 31721
COMMERCIAL - Albany, GA
Property Size6,692 SF
Lot Size5.98 Acres
Price / SF$89.64
Days on Market539
Property Features for 1806 Oakridge Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Take Westover toward Oakridge and turn left Property is on the right
Subdivision
Southwest Albany
Standard status
Active
APN
00308/00001/15H
Size
6,692 SF
Lot size
5.98 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
parcel 00308/000001/016 and 00308/000001/15H
Tax Annual Amount
3967
Legal Description
parcel 00308/000001/016 and 00308/000001/15H
Building Details
Year built
1969
Floors in Building
1
Number of units
5
Listing Agency:
RE/MAX OF ALBANY · RE/MAX International
(229) 434-1600
Listed By:
Linda C. Turpin · License #162005
(229) 881-1529
Added: Feb 14, 2025
Changed: Aug 4
Last Checked: Aug 7 at 12:06PM
MLS# 164389
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 offering includes two properties totaling 5.98 acres, with 4.67 acres and an additional 1.31 acres. The properties are located in an M1 zoning area and include a 6,692 square foot office building facing Oakridge Drive and a rental home that is currently occupied. The property also features barns and a shop suitable for storage or other uses. Recent improvements have been made. This property presents an opportunity for business expansion or investment.
Key Highlights
- Two properties being sold together totaling 5.98 acres.
- M1 zoning, suitable for business expansion or investment.
- Includes a large office building and a rental home.
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
$40,987
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
6.83%
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%
$819,740
$819.7K
Cap Rate 7%
$585,529
$585.5K
Cap Rate 9%
$455,411
$455.4K
Market Conditions
NOI Build-Up for 6,692 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
$80.3K $12.00/SF
− Vacancy
−$5.8K −$0.86/SF
EGI
$74.5K $11.14/SF
− OpEx
−$33.5K −$5.01/SF
NOI
$41.0K $6.12/SF
Area
Dougherty County, GA
Vacancy
7.20%
Lease Rate
$12.00 /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%
$819,740
Cap Rate 7%
$585,529
Cap Rate 9%
$455,411
Alternative Uses
Best Use
Office B
$838.9K
$734.0K – $978.7K
NOI $58,722 @ 7.0% cap · market cap 9.79%
Second Best
Apartment 5plus
$585.5K
$512.3K – $683.1K
NOI $40,987 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,189 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 31721, GA
19,652
Population
8,508
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
94%
High-School Grad
220.7 sq mi
ZIP Area
89
Density / Sq Mi
$78,314
Median Household Income
$45,758
Median Earnings
$1,174
Median Rent
$209,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Mixed-use property - Two properties totaling 5.98 acres with office, home, barns.
Where is this mixed-use property located?
The property is located at 1806 Oakridge Drive Albany, GA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two properties being sold together totaling 5.98 acres.; M1 zoning, suitable for business expansion or investment.; Includes a large office building and a rental home.
