Storefront Property with Drive-Up
For Sale
$750,000
375 Connell Rd, Valdosta, GA 31602
Commercial Sale, Valdosta, GA
Property Size4,550 SF
Lot Size0.51 Acres
Price / SF$164.84
Days on Market203
Property Features for 375 Connell Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-H
Subdivision
2-N of Park Ave to E Oak St (City Limits)
Standard status
Active
APN
0112A 014A
Size
4,550 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 3A-1
Tax Annual Amount
4905
Legal Description
Lot 3A-1
Amenities
front customer counter
large rear work area
storage
Building Details
Year built
2002
Listing Agency:
FIRST COMMERCIAL REAL ESTATE
(229) 561-1939
Listed By:
Scott Alderman · License #109748
(229) 561-1939
Added: Jan 29
Changed: Aug 20
Last Checked: Aug 20 at 2:06PM
MLS# 148500
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.
The 4,550-square-foot storefront was built in 2002 and is configured for a dry-cleaning, laundry, and alterations operation. The layout includes a front customer counter, drive-up service window, large rear work area, storage, and a pylon sign. The sale includes the real estate and identified business assets, including furniture, fixtures, equipment, a 2001 Dodge Sprinter Van, tools, supplies, contracts, customer accounts, trade name, phone number, and website.
The property occupies 0.51 acres on Connell Rd in Valdosta, between Ashley St and Bemiss Rd. It is zoned C-H. The rear mini-storage building and lot are excluded from the sale and are owned separately. Financial information covering the prior 3 years is available to qualified prospects who execute a Confidentiality Agreement. Showings are scheduled after hours only.
The property occupies 0.51 acres on Connell Rd in Valdosta, between Ashley St and Bemiss Rd. It is zoned C-H. The rear mini-storage building and lot are excluded from the sale and are owned separately. Financial information covering the prior 3 years is available to qualified prospects who execute a Confidentiality Agreement. Showings are scheduled after hours only.
Key Highlights
- 4,550‑square‑foot storefront on 0.51 acres
- Established dry‑cleaning, laundry, and alterations business operating for 35+ yrs
- Drive‑up window, front customer counter, rear work area, 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
$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
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
79k
Monthly Visits Nearby
Under-served
Demand for This Use
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?
Storefront property - C-H-zoned commercial building with customer-facing retail space, rear work areas, storage, and an established operating business.
Where is this storefront property 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: 4,550‑square‑foot storefront on 0.51 acres; Established dry‑cleaning, laundry, and alterations business operating for 35+ yrs; Drive‑up window, front customer counter, rear work area, and storage
