C-3 Zoned
For Sale
$169,900
1933 George Road, Augusta, GA 30904
Residential Income, Augusta, GA
Property Size1,174 SF
Lot Size0.26 Acres
Price / SF$144.72
Days on Market141
Property Features for 1933 George Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1
Subdivision
Gordon Highway
Elementary school
Bayvale
Middle school
Murphy
Directions
From Interstate 20 & U.S. Route 1: Take US-1 S (Deans Bridge Rd) toward Augusta Continue on Deans Bridge Rd for approximately 6-7 miles Turn right onto George Road Continue for about 0.5 miles 1933 George Road will be on your left
Standard status
Active
APN
0713052020
Size
1,174 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
684
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1936
Number of units
2
Building materials
Asbestos, Brick
Listing Agency:
Listwithfreedom.com
(855) 456-4945
Listed By:
Ralph Harvey · License #338742
(855) 455-4945
Added: May 3
Changed: Sep 16
Last Checked: Sep 20 at 4:06AM
MLS# 98257117
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.
This 1,174-square-foot property was built in 1936 and is situated on a 0.26-acre lot. The current layout provides 2 bedrooms and 2 bathrooms, while the property was previously rented as a duplex with a 1-bedroom/1-bath arrangement on each side. Two separate power meters support the potential for distinct living areas or other reconfiguration of the existing improvements.
C-3 commercial zoning broadens the property’s documented use framework beyond a conventional single-family residence. Public water and sewer serve the site, and construction includes brick and asbestos materials. Cooling is provided by wall/window and window units. The property is located at 1933 George Road in Augusta, Georgia.
C-3 commercial zoning broadens the property’s documented use framework beyond a conventional single-family residence. Public water and sewer serve the site, and construction includes brick and asbestos materials. Cooling is provided by wall/window and window units. The property is located at 1933 George Road in Augusta, Georgia.
Key Highlights
- C‑3 commercial zoning
- 1,174 square feet on a 0.26‑acre lot
- 2 bedrooms and 2 bathrooms in the current layout
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
$11,514
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
6.78%
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%
$230,280
$230.3K
Cap Rate 7%
$164,486
$164.5K
Cap Rate 9%
$127,933
$127.9K
Market Conditions
NOI Build-Up for 1,174 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
$17.9K $15.24/SF
− Vacancy
−$1.4K −$1.23/SF
EGI
$16.4K $14.01/SF
− OpEx
−$4.9K −$4.20/SF
NOI
$11.5K $9.81/SF
Area
Augusta, GA
Vacancy
8.07%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
30.00%
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%
$230,280
Cap Rate 7%
$164,486
Cap Rate 9%
$127,933
Alternative Uses
Best Use
Multifamily LT 5
$164.5K
$143.9K – $191.9K
NOI $11,514 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$151.9K
$132.9K – $177.3K
NOI $10,635 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$370.6K
$324.2K – $432.3K
NOI $25,939 @ 7.0% cap · market cap 15.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Explore this area
Business Placement
Demographics for 30904, GA
24,145
Population
12,558
Households
1.9
Avg Household Size
38
Median Age
31%
College-Educated
87%
High-School Grad
11.0 sq mi
ZIP Area
2,195
Density / Sq Mi
$45,636
Median Household Income
$29,101
Median Earnings
$953
Median Rent
$185,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate power meters and commercial zoning support flexible residential, live/work, or small-business configurations.
Where is this duplex located?
The property is located at 1933 George Road Augusta, GA.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: C‑3 commercial zoning; 1,174 square feet on a 0.26‑acre lot; 2 bedrooms and 2 bathrooms in the current layout
