Office Condo with Reception
New
For Sale
$249,900
2935 N Ashley St Unit D-113, Valdosta, GA 31602
Commercial Sale, Valdosta, GA
Property Size1,140 SF
Lot Size0.03 Acres
Price / SF$219.21
Days on Market4
Property Features for 2935 N Ashley St Unit D-113
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-H
Subdivision
N Ashley Professional Center
Standard status
Active
APN
0111B 148
Size
1,140 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Bldg D Unit 113
Tax Annual Amount
1887
HOA Fee
$425 Quarterly
Legal Description
Bldg D Unit 113
Building Details
Year built
2008
Listing Agency:
Canopy Realty Group
(229) 630-2400
Listed By:
Tony Barker
(229) 560-3691
Added: Aug 27
Last Checked: Aug 30 at 5:06PM
MLS# 154857
Copyright © 2026 South Georgia MLS (Valdosta). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office condominium provides 1,140 square feet of commercial space within a 2008-built property. The interior includes three large offices, a lobby, a restroom, a breakroom with a small sink and storage, and a substantial reception area that may also serve as an additional office. The property is zoned C-H and occupies a 0.026-acre parcel.
The unit is positioned within North Ashley Professional Center in Valdosta, surrounded by restaurants, retail stores, and other offices. Its configuration combines private work areas with shared reception and support space, offering a practical layout for an office user or owner-occupant.
The unit is positioned within North Ashley Professional Center in Valdosta, surrounded by restaurants, retail stores, and other offices. Its configuration combines private work areas with shared reception and support space, offering a practical layout for an office user or owner-occupant.
Key Highlights
- 1,140 square feet of office condominium space
- Three large offices plus a lobby and reception area
- Breakroom includes a small sink and storage
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
$8,803
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
3.52%
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%
$176,060
$176.1K
Cap Rate 7%
$125,757
$125.8K
Cap Rate 9%
$97,811
$97.8K
Market Conditions
NOI Build-Up for 1,140 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
$15.0K $13.20/SF
− Vacancy
−$3.3K −$2.90/SF
EGI
$11.7K $10.30/SF
− OpEx
−$2.9K −$2.57/SF
NOI
$8.8K $7.72/SF
Area
Lowndes County, GA
Vacancy
22.00%
Lease Rate
$13.20 /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%
$176,060
Cap Rate 7%
$125,757
Cap Rate 9%
$97,811
Alternative Uses
Best Use
Office B
$125.8K
$110.0K – $146.7K
NOI $8,803 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$173.1K
$151.4K – $201.9K
NOI $12,115 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,194
Businesses Nearby
Explore this area
Business Placement
Demographics for 31602, GA
35,999
Population
15,201
Households
2.4
Avg Household Size
33
Median Age
32%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
902
Density / Sq Mi
$55,980
Median Household Income
$34,919
Median Earnings
$1,046
Median Rent
$197,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Multiple private offices, a lobby, breakroom, restroom, and storage create a functional workplace layout.
Where is this office units located?
The property is located at 2935 N Ashley St Unit D-113 Valdosta, GA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,140 square feet of office condominium space; Three large offices plus a lobby and reception area; Breakroom includes a small sink and storage
