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    Harlem Mixed-Use Conversion Opportunity Title is generated by Realmo AI

    350 W Milledgeville Road, Harlem, GA

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    Claim this Listing
    For Sale
    $220,000

    MULTI_FAMILY - Harlem, GA

    Property size:
    2,482 SF
    Lot size:
    0.43 Acres
    Price / SF:
    $88/SF
    Added:
    Jan 6, 2026
    Days on Market:
    125
    Last Refresh:
    May 11 at 7:06 pm

    Property Features for 350 W Milledgeville Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    3
    Rooms
    Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 6
    Patio and Porch features
    Porch
    Standard status
    Active
    Size
    2,482 SF
    Lot size
    0.43 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1533

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Wall Furnace
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1920
    Number of units
    3
    Flooring type
    Carpet

    We can help!

    Listing Contact
    Phoebe Y Woodcock

    Listing agent Phoebe Y Woodcock License #276765

    Listing office Premier Homes Property Managment 3161 GORDON HWY, GROVETOWN, GA

    Listing date Jan 6, 2026

    MLS# 98254178 Listing URL

    Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Multifamily or Commercial Conversion Potential: Zoned P‑1, the property offers a value‑add opportunity for conversion.
    • Adaptive Reuse Potential: The existing structure has flexible square footage, making it ideal for renovation.
    • High‑Visibility Location: Generous lot with road frontage on West Milledgeville Road, convenient to local amenities and major corridors.
    • Multiple Income‑Producing Concepts: Suited for small multifamily, professional office, service‑based business, or mixed residential\/commercial use.
    • Low‑Basis Entry Point: Offers investors a low‑basis entry point with multiple upside paths in a growing submarket.
    • Proximity to Fort Gordon\/I‑20: Convenient location near Fort Gordon and the I‑20 entrance.

    Overview

    Located on West Milledgeville Road in Harlem, Georgia, this property presents a value-investment opportunity suitable for multifamily conversion, commercial use, or a live/work configuration, subject to zoning and local approvals. The property is currently zoned P-1. The existing structure offers 2482 square feet with adaptive-reuse potential, making it suitable for investors or owner-operators seeking multiple exit strategies. Positioned on a 0.43-acre lot with road frontage and visibility, the property supports a variety of income-producing concepts including small multifamily, professional office, service-based business, or mixed residential/commercial use. The site offers upside through renovation, reconfiguration, and rent optimization. Convenient to local amenities and major corridors, near Fort Gordon and the I-20 entrance, this asset is suited for investors targeting workforce housing demand or neighborhood commercial users. This property offers investors a low-basis entry point with multiple upside paths, suitable for those seeking redevelopment, adaptive reuse, or long-term income in a growing submarket. The property is being sold as-is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Harlem
    County
    Columbia
    State
    Georgia
    Longitude
    -82.318166
    Latitude
    33.416615

    Nearby Similar for Sale

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    • $360,000
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      Harlem, GA Church Property

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    • $220,000
      2,482 SF

      Harlem Mixed-Use Conversion Opportunity

      Multifamily or commercial conversion potential in Harlem, Georgia.
      350 W Milledgeville Road, Harlem, GA 30814
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Multifamily or commercial conversion potential in Harlem, Georgia.
    Where is this mixed-use property located?
    The property is located at 350 W Milledgeville Road Harlem, GA.
    What is the asking price?
    The asking price for this property is $220,000.
    What are key features of this property?
    This property features: Multifamily or Commercial Conversion Potential: Zoned P‑1, the property offers a value‑add opportunity for conversion.; Adaptive Reuse Potential: The existing structure has flexible square footage, making it ideal for renovation.; High‑Visibility Location: Generous lot with road frontage on West Milledgeville Road, convenient to local amenities and major corridors.
    (706) 951-1724
    We can help!
    Listing Contact
    Phoebe Y Woodcock
    Real Estate License ID: 276765
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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