Retail Storefront
For Sale
Contact for pricing
2416C Westgate Dr, Albany, GA 31707
Commercially zoned space suited to retail or specialty-service use within a shopping village setting.
Property Size2,500 SF
Price / SF$119.60
Days on Market55
Property Features for 2416C Westgate Dr
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Office, Retail
Zoning
Commercial
Building Details
Year Built
1995
Year Renovated
2011
Buildings
1
Units
1
Listing Agency:
Webb Properties Inc
Listed By:
William A. Hancock · License #GA 151422
Source:
Crexi
Added: Jul 7
Changed: Aug 30
Last Checked: Aug 30 at 4:47AM
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 Webb Properties Inc
Investment Insights
Based on property information with market context.
This storefront property provides 2,500 square feet of commercial space in a building completed in 1995. The layout is positioned for retail or specialty-service operations, with a customer-facing configuration appropriate for a range of storefront concepts. Commercial zoning supports the property’s stated use profile.
The property is located at 2416C Westgate Drive in Northwest Albany, within Place on the Point shopping village. Ample parking serves visitors, while surrounding complementary businesses contribute to an established retail setting. The address is in Albany, Georgia, 31707.
The property is located at 2416C Westgate Drive in Northwest Albany, within Place on the Point shopping village. Ample parking serves visitors, while surrounding complementary businesses contribute to an established retail setting. The address is in Albany, Georgia, 31707.
Key Highlights
- 2,500‑square‑foot storefront property
- Commercial zoning
- Retail or specialty‑service use profile
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
$18,795
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
6.29%
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%
$375,900
$375.9K
Cap Rate 7%
$268,500
$268.5K
Cap Rate 9%
$208,833
$208.8K
Market Conditions
NOI Build-Up for 2,500 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
$30.0K $12.00/SF
− Vacancy
−$3.2K −$1.26/SF
EGI
$26.9K $10.74/SF
− OpEx
−$8.1K −$3.22/SF
NOI
$18.8K $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%
$375,900
Cap Rate 7%
$268,500
Cap Rate 9%
$208,833
Alternative Uses
Best Use
Retail
$268.5K
$234.9K – $313.3K
NOI $18,795 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$492.0K
$430.5K – $574.0K
NOI $34,440 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
165k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 26%
Superstores 23%
Office Supplies 4%
Big Lots
Superstores
37,170 visits/mo
0.5 miles
Burger King
Dining
18,066 visits/mo
0.3 miles
Taco Bell
Dining
15,654 visits/mo
0.3 miles
BP
Shops & Services
14,428 visits/mo
0.2 miles
Dunkin' Donuts
Dining
10,869 visits/mo
0.3 miles
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.
Similar Off Market Nearby
- Cedars Plant Rentals — 2243 Dawson Rd, Albany, GA 31707, United States
- The Flower Basket — 2243 Dawson Rd, Albany, GA 31707
Frequently Asked Questions
What type of property is this?
Storefront property - Commercially zoned space suited to retail or specialty-service use within a shopping village setting.
Where is this storefront property located?
The property is located at 2416C Westgate Dr Albany, GA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,500‑square‑foot storefront property; Commercial zoning; Retail or specialty‑service use profile
