Building Details

Year Built 1948

Stories 2

Units 1

Listing Agency: RE/MAX OF ALBANY

Listed By: Karen Richter · License #213956 Show Phone

Source: Crexi

Added: Apr 2 Changed: Oct 3 Last Checked: Oct 20 at 6:41PM

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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 RE/MAX OF ALBANY

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Investment Insights

Based on property information with market context.

This two-story brick commercial building is designed for professional use and features multiple spacious office rooms and multiple bathrooms across both levels. Interior details include high ceilings with crown molding, original hardwood floors on both floors, and a unique marble fireplace. A sun room provides an additional break area for employees. The property is described as move-in-ready, with recent improvements including a new roof, updated central HVAC, and professional landscaping.

Zoned C5, the building is described as qualifying for an office-institutional-residential district. The property includes a carport and ample parking, along with an original stone fence along the rear of the lot for added security and privacy.

Externally, the building sits on a sizable Society Avenue lot and is presented as a restored historic structure with modern updates.

Key Highlights

• 1948 two‑story brick building with multiple office rooms and multiple bathrooms across both levels
• Zoned C5, qualifying for an office‑institutional‑residential district
• Original hardwood floors on both levels and high ceilings with crown molding

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,763

Cap Rate

7.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$495,260 $495.3K

Cap Rate 7%

$353,757 $353.8K

Cap Rate 9%

$275,144 $275.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,822 SF

Gross rent

$42.3K $15.00/SF

− Vacancy

−$9.3K −$3.30/SF

EGI

$33.0K $11.70/SF

− OpEx

−$8.3K −$2.93/SF

NOI

$24.8K $8.78/SF

Area

Dougherty County, GA

Vacancy

22.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$495,260

Cap Rate 7%

$353,757

Cap Rate 9%

$275,144

Alternative Uses

Best Use

Office B

$353.8K

$309.5K – $412.7K (±1% cap)

NOI $24,763 @ 7.0% cap · market cap 7.86%

Second Best

Healthcare Medical

$350.7K

$306.9K – $409.2K (±1% cap)

NOI $24,550 @ 7.0% cap · market cap 7.79%

Theoretical Best

Office A

$555.4K

$486.0K – $647.9K (±1% cap)

NOI $38,876 @ 7.0% cap · market cap 12.34%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Medical Office Space

Suggested Use

Top Pick Dental Office Storage Facility Parking Lot & Garage Carpet & Flooring Store (Bike/Boat/Book/etc) Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,415

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 31701, GA

18,133

Population

9,535

Households

1.9

Avg Household Size

39

Median Age

17%

College-Educated

81%

High-School Grad

21.2 sq mi

ZIP Area

855

Density / Sq Mi

$32,902

Median Household Income

$31,489

Median Earnings

$812

Median Rent

$97,400

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Two-story brick building offers multiple offices and bathrooms, with updated central HVAC and a new roof.

Where is this medical office space located?

The property is located at 410 Society Avenue W Albany, GA.

What is the asking price?

The asking price for this property is $315,000.

What are key features of this property?

This property features: 1948 two‑story brick building with multiple office rooms and multiple bathrooms across both levels; Zoned C5, qualifying for an office‑institutional‑residential district; Original hardwood floors on both levels and high ceilings with crown molding