Established Dry Cleaning Business For
For Sale
Contact for pricing
375 Connell Rd, Valdosta, GA 31602
Turnkey dry cleaning business with real estate in Valdosta, GA.
Property Size4,550 SF
Price / SF$164.84
Days on Market202
Property Features for 375 Connell Rd
General Information
Standard status
Active
Size
4,550 SF
Class
B
Total Parking Spaces
20
Property subtype
Retail
Zoning
C-H
Occupancy
100%
Building Details
Year Built
2002
Buildings
1
Units
1
Listing Agency:
First Commercial Real Estate
(229) 561-1939
Listed By:
Scott Alderman · License #GA 109748
Source:
Crexi
Added: Jan 31
Changed: Aug 15
Last Checked: Aug 21 at 1:16PM
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 First Commercial Real Estate
Investment Insights
Based on property information with market context.
The Big B Cleaners business and real estate are available for sale. This is a complete turnkey opportunity, featuring an established, reputable, long-term (35+ years), successful, and profitable dry cleaning, laundry, and alterations business located in Valdosta, GA. The property includes an attractive and functional building in a prime location on Connell Rd, a major connector between Ashley St and Bemiss Rd. The owner is retiring. Included in the sale are all real estate and business assets, both tangible and intangible. These assets encompass furniture, fixtures, equipment, a 2001 Dodge Sprinter Van, tools, supplies, sundries, contracts, book of business, goodwill, "blue sky", trade/brand name, and phone number and website. The building features an efficient layout, a large pylon sign, a drive-up window, a front customer counter, and a large rear work area and storage. The property size is 4550 square feet. Showings are available after hours only. Note that the rear mini-storage building and lot are not included in this sale, as they are under separate ownership.
Key Highlights
- Established, reputable, and profitable dry cleaning business (35+ years)
- Complete turnkey operation including all business assets and real estate
- Attractive and functional building in a great location on Connell Rd.
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
$35,917
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
4.79%
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%
$718,340
$718.3K
Cap Rate 7%
$513,100
$513.1K
Cap Rate 9%
$399,078
$399.1K
Market Conditions
NOI Build-Up for 4,550 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
$57.3K $12.60/SF
− Vacancy
−$6.0K −$1.32/SF
EGI
$51.3K $11.28/SF
− OpEx
−$15.4K −$3.38/SF
NOI
$35.9K $7.89/SF
Area
Lowndes County, GA
Vacancy
10.50%
Lease Rate
$12.60 /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%
$718,340
Cap Rate 7%
$513,100
Cap Rate 9%
$399,078
Alternative Uses
Best Use
Retail
$513.1K
$449.0K – $598.6K
NOI $35,917 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.8K
$604.4K – $805.9K
NOI $48,354 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
79k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 31%
Home Improvements & Furnishings 3%
Electronics 1%
Circle K
Shops & Services
14,860 visits/mo
0.2 miles
SONIC Drive In
Dining
14,104 visits/mo
0.3 miles
Hardee's
Dining
10,603 visits/mo
0.4 miles
Rodeo Mexican Restaurant
Dining
10,578 visits/mo
0.4 miles
Little Caesars Pizza
Dining
5,474 visits/mo
0.5 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Turnkey dry cleaning business with real estate in Valdosta, GA.
Where is this retail space located?
The property is located at 375 Connell Rd Valdosta, GA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Established, reputable, and profitable dry cleaning business (35+ years); Complete turnkey operation including all business assets and real estate; Attractive and functional building in a great location on Connell Rd.
