Commercial Property on Busy
For Sale
$1,500,000
3416 Mike Padgett Hwy, Augusta, GA 30906
Versatile commercial property with high visibility and easy accessibility.
Property Size8,349 SF
Price / SF$179.66
Days on Market236
Property Features for 3416 Mike Padgett Hwy
General Information
Standard status
Active
Size
8,349 SF
Building Details
Year Built
1957
Listing Agency:
VanderMorgan Realty
Listed By:
Justin Bolin · License #285108
(706) 627-2726
Source:
Bradberrygarnerrealestate
Added: Jan 26
Changed: Sep 8
Last Checked: Sep 19 at 2:36PM
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 VanderMorgan Realty
Investment Insights
Based on property information with market context.
This commercial property is located in Richmond County, offering visibility and accessibility. Situated on a busy highway, the property experiences a high volume of daily traffic, making it suitable for various business ventures, including a restaurant, retail space, or office. The property provides space for customization and includes on-site parking for customers and employees. This property is suitable for expanding an existing business or starting a new venture.
Key Highlights
- High visibility location on a busy highway ensures a high volume of daily traffic.
- Versatile property suitable for a restaurant, retail, or office space.
- Ample space for customization to suit various business needs.
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
$127,740
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
8.52%
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%
$2,554,800
$2.6M
Cap Rate 7%
$1,824,857
$1.8M
Cap Rate 9%
$1,419,333
$1.4M
Market Conditions
NOI Build-Up for 8,349 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
$200.4K $24.00/SF
− Vacancy
−$30.1K −$3.60/SF
EGI
$170.3K $20.40/SF
− OpEx
−$42.6K −$5.10/SF
NOI
$127.7K $15.30/SF
Area
Augusta, GA
Vacancy
15.00%
Lease Rate
$24.00 /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%
$2,554,800
Cap Rate 7%
$1,824,857
Cap Rate 9%
$1,419,333
Alternative Uses
Best Use
Office B
$1.82M
$1.60M – $2.13M
NOI $127,740 @ 7.0% cap · market cap 8.52%
Second Best
Specialty Retail
$1.40M
$1.23M – $1.63M
NOI $98,095 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$2.64M
$2.31M – $3.07M
NOI $184,469 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 30906, GA
58,458
Population
24,663
Households
2.4
Avg Household Size
37
Median Age
12%
College-Educated
85%
High-School Grad
86.7 sq mi
ZIP Area
674
Density / Sq Mi
$46,159
Median Household Income
$29,218
Median Earnings
$1,051
Median Rent
$115,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Versatile commercial property with high visibility and easy accessibility.
Where is this retail space located?
The property is located at 3416 Mike Padgett Hwy Augusta, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High visibility location on a busy highway ensures a high volume of daily traffic.; Versatile property suitable for a restaurant, retail, or office space.; Ample space for customization to suit various business needs.
