Historic Two-Story Office
For Sale
$315,000
410 Society Avenue W, Albany, GA 31701
Commercial Sale, Albany, GA
Property Size2,822 SF
Lot Size0.36 Acres
Price / SF$111.62
Days on Market185
Property Features for 410 Society Avenue W
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Jefferson, turn West onto W Society. Property on the left.
Subdivision
Northeast Albany
Standard status
Active
APN
000cc/00021/015
Size
2,822 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Deed Book/Page - 780/683
Tax Annual Amount
1381
Legal Description
Deed Book/Page - 780/683
Amenities
marble fireplace
sun room
Building Details
Year built
1948
Floors in Building
2
Number of units
1
Listing Agency:
RE/MAX OF ALBANY · RE/MAX International
(229) 434-1600
Listed By:
Karen Richter · License #213956
(229) 854-3730
Added: Apr 3
Changed: Sep 5
Last Checked: Oct 4 at 6:06AM
MLS# 168857
Copyright © 2026 Albany Board of Realtors and Southwest Georgia 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.
Built in 1948, this 2,822-square-foot office building occupies a 0.36-acre lot at 410 Society Avenue W in Albany. The two-story brick structure includes spacious office rooms, high ceilings with crown molding, original hardwood flooring on both levels, multiple bathrooms, a marble fireplace, and a sunroom used as an employee break area. Its layout supports office, medical, dental, and other professional uses.
Recent improvements include a new roof, updated central HVAC, and professional landscaping. The property also features a carport, ample parking, and an original stone fence along the rear lot. Zoned C5, it is designated for office-institutional-residential use and is located near Phoebe Putney Memorial Hospital and downtown Albany.
Recent improvements include a new roof, updated central HVAC, and professional landscaping. The property also features a carport, ample parking, and an original stone fence along the rear lot. Zoned C5, it is designated for office-institutional-residential use and is located near Phoebe Putney Memorial Hospital and downtown Albany.
Key Highlights
- 2,822‑square‑foot office building on a 0.36‑acre lot
- Two‑story brick construction completed in 1948
- C5 zoning for office‑institutional‑residential use
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,453
Businesses Nearby
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - C5-zoned commercial property with updated HVAC, parking, and a carport.
Where is this office building 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: 2,822‑square‑foot office building on a 0.36‑acre lot; Two‑story brick construction completed in 1948; C5 zoning for office‑institutional‑residential use
