Conversion-Ready Office and Medical
For Sale
Contact for pricing
2302 Village Green Court, Albany, GA 31707
Brick-and-stucco building with a flexible open layout, multiple entrances, and parking for office or medical use.
Property Size4,581 SF
Price / SF$130.95
Days on Market58
Property Features for 2302 Village Green Court
General Information
Standard status
Active
Size
4,581 SF
Total Parking Spaces
15
Property subtype
Retail, Special Purpose
Additional Details
Business Included
Yes
Building Details
Year Built
1975
Year Renovated
2019
Listing Agency:
Kunes Real Estate & Appraisals Inc
Listed By:
Brandon Johnson · License #374627
Source:
Crexi
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 6 at 8:52AM
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 Kunes Real Estate & Appraisals Inc
Investment Insights
Based on property information with market context.
This large commercial building is currently operated as a daycare with capacity for approximately 100. The structure features brick and stucco exterior construction and a TPO roof installed in 2019. The building includes an open floor plan and two covered entrances along the frontage on Village Green Court, with additional access doors along the sides and rear of the property. An overhang along the sides connects to a neighboring building that the current owner leases. Asphalt parking is available along the front of the building with roughly 15 parking spaces, along with street parking; the parking lot has recently been resurfaced, supporting day-to-day tenant and visitor access. All contents are included with the sale.
Located in the north Albany area, the property’s frontage includes two covered entry points, supported by both on-site parking and street parking. Multiple exterior doors and the connected overhang provide operational flexibility for managing arrivals and day-to-day flow.
While the building is presently used as a daycare, the open floor plan is suited for conversion to office, medical, or other professional needs. The combination of covered entrances, side and rear access, and recently resurfaced parking can support a variety of tenant functions that benefit from easy customer or staff entry.
Located in the north Albany area, the property’s frontage includes two covered entry points, supported by both on-site parking and street parking. Multiple exterior doors and the connected overhang provide operational flexibility for managing arrivals and day-to-day flow.
While the building is presently used as a daycare, the open floor plan is suited for conversion to office, medical, or other professional needs. The combination of covered entrances, side and rear access, and recently resurfaced parking can support a variety of tenant functions that benefit from easy customer or staff entry.
Key Highlights
- Commercial building built in 1975, currently operating as a daycare with capacity of approximately 100
- Brick and stucco exterior with a TPO roof installed in 2019
- Two covered entrances along Village Green Court frontage plus multiple access doors along the sides and rear
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
$40,198
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
6.70%
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%
$803,960
$804.0K
Cap Rate 7%
$574,257
$574.3K
Cap Rate 9%
$446,644
$446.6K
Market Conditions
NOI Build-Up for 4,581 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
$68.7K $15.00/SF
− Vacancy
−$15.1K −$3.30/SF
EGI
$53.6K $11.70/SF
− OpEx
−$13.4K −$2.93/SF
NOI
$40.2K $8.78/SF
Area
Dougherty County, GA
Vacancy
22.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$803,960
Cap Rate 7%
$574,257
Cap Rate 9%
$446,644
Alternative Uses
Best Use
Office B
$574.3K
$502.5K – $670.0K
NOI $40,198 @ 7.0% cap · market cap 6.70%
Second Best
Healthcare Medical
$569.3K
$498.2K – $664.2K
NOI $39,852 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$901.5K
$788.9K – $1.05M
NOI $63,108 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
863
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Porterfield Day School — 2200 Dawson Rd, Albany, GA 31707
- Fun Villa Day Care & PreSchool — 2302 Village Green Ct, Albany, GA 31707
Frequently Asked Questions
What type of property is this?
Day care center - Brick-and-stucco building with a flexible open layout, multiple entrances, and parking for office or medical use.
Where is this day care center located?
The property is located at 2302 Village Green Court 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: Commercial building built in 1975, currently operating as a daycare with capacity of approximately 100; Brick and stucco exterior with a TPO roof installed in 2019; Two covered entrances along Village Green Court frontage plus multiple access doors along the sides and rear
