Building Details

Building Size 1,895 SF

Year Built 1895

Listing Agency: Madison Realty c***@gmail.com Show Phone

Listed By: Ashley Hunt · License #247464 Show Phone

Source: Blackstreaminternational

Added: Oct 16 Changed: Oct 19 Last Checked: Oct 19 at 2:27PM

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Investment Insights

Based on property information with market context.

Built in 1895, this two-story property combines potential professional or limited-commercial use on the main floor with residential living space on the second level. P-2 zoning applies, and proposed uses require City approval. Interior details include hardwood flooring, high ceilings, antique glass windows, and pocket doors. The property also has a full dirt basement and paved parking at the rear.

Restaurant and food-service uses are subject to restrictions. The property is in downtown Madison, Georgia.

Key Highlights

• 1895 construction
• P‑2 zoning; proposed uses require City approval
• Main‑floor professional or limited‑commercial use with residential space upstairs

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,376

Cap Rate

2.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$507,520 $507.5K

Cap Rate 7%

$362,514 $362.5K

Cap Rate 9%

$281,956 $282.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,895 SF

Gross rent

$45.2K $23.87/SF

− Vacancy

−$11.4K −$6.02/SF

EGI

$33.8K $17.85/SF

− OpEx

−$8.5K −$4.46/SF

NOI

$25.4K $13.39/SF

Area

Morgan County, GA

Vacancy

25.20%

Lease Rate

$23.87 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$507,520

Cap Rate 7%

$362,514

Cap Rate 9%

$281,956

Alternative Uses

Best Use

Office B

$362.5K

$317.2K – $422.9K (±1% cap)

NOI $25,376 @ 7.0% cap · market cap 2.99%

Second Best

Mixed Use

$328.9K

$287.8K – $383.7K (±1% cap)

NOI $23,024 @ 7.0% cap · market cap 2.71%

Theoretical Best

Office A

$529.7K

$463.5K – $618.0K (±1% cap)

NOI $37,081 @ 7.0% cap · market cap 4.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

SPARKL (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Auto Repair Shop Dental Office Auto Parts Store Nail Salon Furniture & Home Goods (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

459

Businesses Nearby

Explore this area Business Placement

Demographics for 30650, GA

13,631

Population

5,723

Households

2.4

Avg Household Size

43

Median Age

34%

College-Educated

93%

High-School Grad

229.9 sq mi

ZIP Area

59

Density / Sq Mi

$80,357

Median Household Income

$44,789

Median Earnings

$1,104

Median Rent

$314,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A two-level configuration offers potential for commercial use downstairs and residential space upstairs, subject to city approval.

Where is this mixed-use property located?

The property is located at 270 S Main Street Madison, GA.

What is the asking price?

The asking price for this property is $849,000.

What are key features of this property?

This property features: 1895 construction; P‑2 zoning; proposed uses require City approval; Main‑floor professional or limited‑commercial use with residential space upstairs