Two-Story Brick Medical Office
For Sale
Contact for pricing
410 Society Avenue W, Albany, GA 31701
Two-story brick building offers multiple offices and bathrooms, with updated central HVAC and a new roof.
Property Size2,822 SF
Price / SF$111.62
Days on Market157
Property Features for 410 Society Avenue W
General Information
Standard status
Active
Size
2,822 SF
Total Parking Spaces
6
Property subtype
Office
Zoning
C5
Building Details
Year Built
1948
Stories
2
Units
1
Listing Agency:
RE/MAX OF ALBANY
Listed By:
Karen Richter · License #213956
(229) 317-4290
Source:
Crexi
Added: Apr 2
Changed: Aug 27
Last Checked: Sep 4 at 11:24PM
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
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.
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 = 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
$24,763
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
7.86%
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%
$495,260
$495.3K
Cap Rate 7%
$353,757
$353.8K
Cap Rate 9%
$275,144
$275.1K
Market Conditions
NOI Build-Up for 2,822 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
$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 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%
$495,260
Cap Rate 7%
$353,757
Cap Rate 9%
$275,144
Alternative Uses
Best Use
Office B
$353.8K
$309.5K – $412.7K
NOI $24,763 @ 7.0% cap · market cap 7.86%
Second Best
Healthcare Medical
$350.7K
$306.9K – $409.2K
NOI $24,550 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$555.4K
$486.0K – $647.9K
NOI $38,876 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
