Commercial Land with Existing
For Sale
$299,900
4041 Mike Padgett Highway, Augusta, GA 30906
Commercial Sale, Augusta, GA
Property Size1,836 SF
Lot Size5.32 Acres
Price / SF$163.34
Days on Market58
Property Features for 4041 Mike Padgett Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Industrial
Parking features
Paved or Surfaced
Directions
off of Mike Padgett hwy in Augusta Ga
Standard status
Active
APN
1990001000
Size
1,836 SF
Lot size
5.32 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2773
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1968
Building materials
Brick, Vinyl Siding
Roof type
Composition
Listing Agency:
Forth & Bound Real Estate
(706) 955-3392
Listed By:
Rebecca McGinty · License #76782
(706) 955-3392
Added: Jun 26
Changed: Aug 19
Last Checked: Aug 22 at 7:06PM
MLS# 100584570
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.
Investment Insights
Based on property information with market context.
This industrial-zoned commercial land covers 5.32 acres and includes an existing 1,836-square-foot building constructed in 1968. The structure has brick and vinyl siding, central air, and a composition roof. Paved or surfaced parking is present, while public water and public sewer serve the property.
The site is located at 4041 Mike Padgett Highway in Augusta, Georgia, providing highway frontage and access along the corridor. The property combines a substantial land component with an existing improvement that may support office, rental, or live-work use as described for the site.
The site is located at 4041 Mike Padgett Highway in Augusta, Georgia, providing highway frontage and access along the corridor. The property combines a substantial land component with an existing improvement that may support office, rental, or live-work use as described for the site.
Key Highlights
- 5.32‑acre commercial land parcel
- Existing 1,836‑square‑foot building constructed in 1968
- Industrial zoning
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Industrial-zoned commercial land with an existing building, paved parking, public utilities, and direct access along Mike Padgett Highway.
Where is this commercial land located?
The property is located at 4041 Mike Padgett Highway 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: 5.32‑acre commercial land parcel; Existing 1,836‑square‑foot building constructed in 1968; Industrial zoning
