Brick Office Building with
For Sale
$449,900
502 N Ashley, Valdosta, GA 31601
Commercial Sale, Valdosta, GA
Property Size3,600 SF
Lot Size0.36 Acres
Price / SF$124.97
Days on Market301
Property Features for 502 N Ashley
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Subdivision
Valdosta
Standard status
Active
APN
0118C167
Size
3,600 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Blk 188 City of Valdosta
Tax Annual Amount
2806
Legal Description
Blk 188 City of Valdosta
Building Details
Year built
1970
Listing Agency:
Georgia Florida Real Estate Services
(229) 560-2081
Listed By:
Melissa Sherwood
(229) 561-0232
Added: Dec 18, 2025
Changed: Aug 20
Last Checked: Oct 15 at 3:06AM
MLS# 147078
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.
This 3,600-square-foot brick office building, constructed in 1970, includes a lobby, reception area, five offices, one to two conference rooms, a loft, and storage areas. The property is currently occupied by a law firm and offers a configuration suited to professional office operations. Its roof is approximately one year old, and the property is zoned C.
Located at 502 N Ashley in Valdosta’s Art District, the building is within walking distance of the courthouse and next to the Chamber of Commerce. The central setting places professional workspace near civic and business institutions while maintaining a distinct brick-building character.
Located at 502 N Ashley in Valdosta’s Art District, the building is within walking distance of the courthouse and next to the Chamber of Commerce. The central setting places professional workspace near civic and business institutions while maintaining a distinct brick-building character.
Key Highlights
- 3,600‑square‑foot brick office building on 0.356 acres
- Five offices, reception area, lobby, and 1‑2 conference rooms
- Loft provides additional flexible workspace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,799
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,980
$556.0K
Cap Rate 7%
$397,129
$397.1K
Cap Rate 9%
$308,878
$308.9K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$47.5K $13.20/SF
− Vacancy
−$10.5K −$2.90/SF
EGI
$37.1K $10.30/SF
− OpEx
−$9.3K −$2.57/SF
NOI
$27.8K $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 Rate 5%
$555,980
Cap Rate 7%
$397,129
Cap Rate 9%
$308,878
Alternative Uses
Best Use
Office B
$397.1K
$347.5K – $463.3K
NOI $27,799 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$546.5K
$478.2K – $637.6K
NOI $38,258 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,309
Businesses Nearby
Explore this area
Business Placement
Demographics for 31601, GA
32,331
Population
14,345
Households
2.3
Avg Household Size
33
Median Age
15%
College-Educated
82%
High-School Grad
159.0 sq mi
ZIP Area
203
Density / Sq Mi
$34,846
Median Household Income
$28,878
Median Earnings
$872
Median Rent
$112,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Professional office property with reception, multiple private offices, conference areas, storage, and flexible upper-level space.
Where is this office building located?
The property is located at 502 N Ashley Valdosta, GA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 3,600‑square‑foot brick office building on 0.356 acres; Five offices, reception area, lobby, and 1‑2 conference rooms; Loft provides additional flexible workspace
