Freestanding Retail with
For Sale
$850,000
2801 N Slappey Blvd, Albany, GA 31763
Freestanding building on a corner lot with a flexible open layout, refrigeration, and a six-lane drive-thru.
Property Size4,500 SF
Lot Size1.34 Acres
Price / SF$188.89
Days on Market214
Property Features for 2801 N Slappey Blvd
General Information
Standard status
Active
Size
4,500 SF
Lot size
1.34 Acres
Property subtype
General Commercial
Site & Location
Traffic Count
19,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$11,849
Amenities
flexible open layout
glass-door coolers
walk-in refrigeration
six-lane drive-thru
A/C - Other
3
Business,Commercial,General Commercial
Other, City Road.
Building Details
Year Built
1993
Listing Agency:
Southeastern Land Group
(256) 825-4331
Listed By:
Guy Joiner
(229) 869-5541
Source:
Xome
Added: Feb 3
Changed: Sep 2
Last Checked: Sep 4 at 4:02AM
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.
Freestanding commercial building on a corner-style lot with a flexible open layout and multiple glass-door coolers. The property includes walk-in refrigeration and a drive-thru configured for six lanes. The building is currently operating as Drip Drop Liquors and is described as highly adaptable based on a prior bank use.
The site offers strong road frontage and visibility with exposure to approximately 19,000 vehicles per day, per the seller’s remarks. Located near US-19 and US-82, it is described as minutes from Albany Mall and downtown Albany.
With the existing configuration for retail and service access, the property is positioned for a range of commercial uses as noted in the remarks, including retail, restaurant, medical, office, or redevelopment.
The site offers strong road frontage and visibility with exposure to approximately 19,000 vehicles per day, per the seller’s remarks. Located near US-19 and US-82, it is described as minutes from Albany Mall and downtown Albany.
With the existing configuration for retail and service access, the property is positioned for a range of commercial uses as noted in the remarks, including retail, restaurant, medical, office, or redevelopment.
Key Highlights
- 7,169 SF freestanding commercial building on a 1.34‑acre corner‑style lot
- Approx. 19,000 vehicles per day on N Slappey Blvd for visibility and exposure
- Flexible open layout with multiple glass‑door coolers and walk‑in refrigeration
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
$33,831
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
3.98%
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%
$676,620
$676.6K
Cap Rate 7%
$483,300
$483.3K
Cap Rate 9%
$375,900
$375.9K
Market Conditions
NOI Build-Up for 4,500 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
$54.0K $12.00/SF
− Vacancy
−$5.7K −$1.26/SF
EGI
$48.3K $10.74/SF
− OpEx
−$14.5K −$3.22/SF
NOI
$33.8K $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%
$676,620
Cap Rate 7%
$483,300
Cap Rate 9%
$375,900
Alternative Uses
Best Use
Retail
$483.3K
$422.9K – $563.9K
NOI $33,831 @ 7.0% cap · market cap 3.98%
Second Best
Specialty Retail
$458.3K
$401.1K – $534.7K
NOI $32,084 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$885.6K
$774.9K – $1.03M
NOI $61,992 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
110k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Groceries 37%
Shops & Services 11%
Hotels & Casinos 1%
Walmart Neighborhood Market
Groceries
40,757 visits/mo
0.5 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
20,673 visits/mo
0.1 miles
Wendy's
Dining
19,007 visits/mo
0.3 miles
Burger King
Dining
17,149 visits/mo
0.1 miles
Dollar General
Shops & Services
7,213 visits/mo
0.3 miles
Demographics for 31763, GA
27,963
Population
10,984
Households
2.5
Avg Household Size
38
Median Age
34%
College-Educated
91%
High-School Grad
247.9 sq mi
ZIP Area
113
Density / Sq Mi
$84,593
Median Household Income
$45,057
Median Earnings
$1,146
Median Rent
$224,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding building on a corner lot with a flexible open layout, refrigeration, and a six-lane drive-thru.
Where is this retail space located?
The property is located at 2801 N Slappey Blvd Albany, GA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 7,169 SF freestanding commercial building on a 1.34‑acre corner‑style lot; Approx. 19,000 vehicles per day on N Slappey Blvd for visibility and exposure; Flexible open layout with multiple glass‑door coolers and walk‑in refrigeration
