Commercial Land with Existing
For Sale
$299,900
4041 Mike Padgett Hwy, Augusta, GA 30906
Highway-fronting acreage includes an existing home suited to office, rental, or live-work use.
Property Size1,836 SF
Price / SF$163.34
Days on Market24
Property Features for 4041 Mike Padgett Hwy
General Information
Standard status
Active
Size
1,836 SF
Building Details
Year Built
1968
Listing Agency:
Forth & Bound Real Estate Company
(706) 955-3392
Listed By:
Rebecca McGinty · License #76782
Source:
Thebradleyrealestategroup
Added: Aug 8
Changed: Aug 30
Last Checked: Aug 30 at 8:34PM
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 Forth & Bound Real Estate Company
Investment Insights
Based on property information with market context.
This commercial land holding spans over 5 acres along Mike Padgett Highway and includes an existing residential home. The home was built in 1968 and is identified as 1,836 in property size. Its existing improvements provide a structure that can serve office, rental, or live-work purposes, subject to applicable requirements.
The property is located at 4041 Mike Padgett Hwy in Augusta, Georgia, with direct highway frontage and convenient access. The site offers substantial land area for parking, expansion, or additional structures. The source information also identifies potential commercial applications including retail, office, automotive services, storage, restaurants, and event venues; specific permitted uses are not stated.
The property is located at 4041 Mike Padgett Hwy in Augusta, Georgia, with direct highway frontage and convenient access. The site offers substantial land area for parking, expansion, or additional structures. The source information also identifies potential commercial applications including retail, office, automotive services, storage, restaurants, and event venues; specific permitted uses are not stated.
Key Highlights
- Over 5 acres of commercial land
- Frontage on Mike Padgett Highway
- Existing home on the property
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
$22,307
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
7.44%
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%
$446,140
$446.1K
Cap Rate 7%
$318,671
$318.7K
Cap Rate 9%
$247,856
$247.9K
Market Conditions
NOI Build-Up for 1,836 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
$39.7K $21.60/SF
− Vacancy
−$4.0K −$2.16/SF
EGI
$35.7K $19.44/SF
− OpEx
−$13.4K −$7.29/SF
NOI
$22.3K $12.15/SF
Area
Augusta, GA
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$446,140
Cap Rate 7%
$318,671
Cap Rate 9%
$247,856
Alternative Uses
Best Use
Office B
$401.3K
$351.1K – $468.2K
NOI $28,091 @ 7.0% cap · market cap 9.37%
Second Best
Mixed Use
$318.7K
$278.8K – $371.8K
NOI $22,307 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$579.5K
$507.1K – $676.1K
NOI $40,566 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
49
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Highway-fronting acreage includes an existing home suited to office, rental, or live-work use.
Where is this commercial land located?
The property is located at 4041 Mike Padgett Hwy Augusta, GA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Over 5 acres of commercial land; Frontage on Mike Padgett Highway; Existing home on the property
