Multi-Tenant Office
For Sale
Under Contract
$785,000
411-415 Cowart Avenue, Valdosta, GA 31602
Commercial Sale, Valdosta, GA
Property Size6,216 SF
Lot Size0.58 Acres
Price / SF$126.29
Days on Market282
Property Features for 411-415 Cowart Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-H
Subdivision
*
Standard status
Active Under Contract
APN
0114A 168, 169
Size
6,216 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
in listing office
Tax Annual Amount
9022
Legal Description
in listing office
Building Details
Year built
2005
Listing Agency:
COLDWELL BANKER PREMIER REAL E
(229) 244-3535
Listed By:
John Courson · License #342868
(229) 251-4632
Added: Nov 15, 2025
Changed: Aug 21
Last Checked: Aug 24 at 2:06AM
MLS# 146826
Copyright © 2026 South Georgia MLS (Valdosta). 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.
Azalea Business Center comprises two office buildings with 10 suites totaling 6,216 square feet on 0.583 acres. Built in 2005, the property is configured for multi-tenant professional use, with each 620-square-foot suite offering two private offices, a reception or waiting area, break room, storage, and private restroom. Individually metered utilities allow tenant-level billing. On-site parking and convenient vehicle circulation support daily operations.
The property is located at 411-415 Cowart Avenue in Valdosta, near SGMC Health and within reach of Moody Air Force Base and Valdosta State University. The zoning designation is C-H. Existing occupants include salons, tax preparers, financial professionals, and service-oriented businesses. The property carries an 8.5% proforma cap rate and a 30% operating expense ratio, with established tenants in place.
The property is located at 411-415 Cowart Avenue in Valdosta, near SGMC Health and within reach of Moody Air Force Base and Valdosta State University. The zoning designation is C-H. Existing occupants include salons, tax preparers, financial professionals, and service-oriented businesses. The property carries an 8.5% proforma cap rate and a 30% operating expense ratio, with established tenants in place.
Key Highlights
- 10‑suite, two‑building office property totaling 6,216 SF
- Each suite measures 620 SF and includes two private offices
- Individually metered utilities support direct tenant billing
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
$48,000
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
6.11%
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%
$960,000
$960.0K
Cap Rate 7%
$685,714
$685.7K
Cap Rate 9%
$533,333
$533.3K
Market Conditions
NOI Build-Up for 6,216 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
$82.1K $13.20/SF
− Vacancy
−$18.1K −$2.90/SF
EGI
$64.0K $10.30/SF
− OpEx
−$16.0K −$2.57/SF
NOI
$48.0K $7.72/SF
Area
Lowndes County, GA
Vacancy
22.00%
Lease Rate
$13.20 /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%
$960,000
Cap Rate 7%
$685,714
Cap Rate 9%
$533,333
Alternative Uses
Best Use
Office B
$685.7K
$600.0K – $800.0K
NOI $48,000 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$943.7K
$825.7K – $1.10M
NOI $66,059 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 31602, GA
35,999
Population
15,201
Households
2.4
Avg Household Size
33
Median Age
32%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
902
Density / Sq Mi
$55,980
Median Household Income
$34,919
Median Earnings
$1,046
Median Rent
$197,100
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?
Office building - Two office buildings provide individually metered suites, private offices, reception areas, break rooms, storage, and restrooms.
Where is this office building located?
The property is located at 411-415 Cowart Avenue Valdosta, GA.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 10‑suite, two‑building office property totaling 6,216 SF; Each suite measures 620 SF and includes two private offices; Individually metered utilities support direct tenant billing
