Albany Commercial Property Package
For Sale
$599,000
2007 SW Gillionville Road, Albany, GA 31707
Commercial building and vacant lots with redevelopment potential in Albany.
Property Size4,024 SF
Price / SF$148.86
Days on Market192
Property Features for 2007 SW Gillionville Road
General Information
Standard status
Active
Size
4,024 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$11,974
Amenities
Central Air
3
Commercial
City Road, Paved Road, State Road.
Building Details
Year Built
2007
Listing Agency:
Southeastern Land Group
(229) 869-5541
Listed By:
Guy Joiner · License #GEORGIA437459
(229) 869-5541
Source:
Xome
Added: Feb 13
Changed: Aug 23
Last Checked: Aug 24 at 5:02AM
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 Southeastern Land Group
Investment Insights
Based on property information with market context.
This commercial property package in Albany, GA, features an existing commercial building at 2007 Gillionville Rd, currently leased to a church on a month-to-month basis. The sale includes a deed restriction prohibiting its use as a convenience store or gas station. Previously operated as a grocery store with a pharmacy, the building offers flexible potential for retail, service, or redevelopment. The sale also encompasses two adjacent vacant commercial parcels at 2001 and 2003 Gillionville Rd, providing opportunities for expansion, redevelopment, or additional income. The properties are sold as a package deal only, including three parcels: 2007 Gillionville Rd (Parcel: 000PP/00023/001), 2001 Gillionville Rd (Parcel: 000PP/00023/004), and 2003 Gillionville Rd (Parcel: 000PP/00023/003). The existing building has a size of 4024 square feet. The property benefits from excellent visibility and commercial zoning, making it suitable for investors, owner-operators, or redevelopment projects.
Key Highlights
- Three commercial parcels included in the sale: 2007, 2001, and 2003 Gillionville Rd.
- Excellent visibility and commercial zoning.**
- Existing commercial building (built in 2007) formerly operated as a grocery store with a pharmacy.
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
$30,252
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
5.05%
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%
$605,040
$605.0K
Cap Rate 7%
$432,171
$432.2K
Cap Rate 9%
$336,133
$336.1K
Market Conditions
NOI Build-Up for 4,024 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
$48.3K $12.00/SF
− Vacancy
−$5.1K −$1.26/SF
EGI
$43.2K $10.74/SF
− OpEx
−$13.0K −$3.22/SF
NOI
$30.3K $7.52/SF
Area
Dougherty County, GA
Vacancy
10.50%
Lease Rate
$12.00 /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%
$605,040
Cap Rate 7%
$432,171
Cap Rate 9%
$336,133
Alternative Uses
Best Use
Retail
$432.2K
$378.2K – $504.2K
NOI $30,252 @ 7.0% cap · market cap 5.05%
Second Best
Specialty Retail
$409.9K
$358.6K – $478.2K
NOI $28,690 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$791.9K
$692.9K – $923.9K
NOI $55,435 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31707, GA
24,623
Population
12,652
Households
1.9
Avg Household Size
38
Median Age
27%
College-Educated
88%
High-School Grad
18.4 sq mi
ZIP Area
1,338
Density / Sq Mi
$49,179
Median Household Income
$37,878
Median Earnings
$934
Median Rent
$131,900
Median Home Value
Market
Vacancy Rate% for Retail 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?
Grocery and convenience store - Commercial building and vacant lots with redevelopment potential in Albany.
Where is this grocery and convenience store located?
The property is located at 2007 SW Gillionville Road Albany, GA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three commercial parcels included in the sale: 2007, 2001, and 2003 Gillionville Rd.; Excellent visibility and commercial zoning.**; Existing commercial building (built in 2007) formerly operated as a grocery store with a pharmacy.
