Medical Office
For Sale
Contact for pricing
506 N Patterson St, Valdosta, GA 31601
For-sale medical office building with a stated 9% cap rate.
Property Size6,122 SF
Price / SF$245.02
Days on Market127
Property Features for 506 N Patterson St
General Information
Standard status
Active
Size
6,122 SF
Class
B
Property subtype
Office
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$134,893
Additional Details
Cap Rate
9%
Building Details
Year Built
1984
Year Renovated
2011
Tenancy
Single
Listing Agency:
Marcus & Millichap - Orlando
Listed By:
Christopher Biuso · License #Fl SL3424071
(407) 557-3841
Source:
Crexi
Added: Jun 17
Changed: Oct 12
Last Checked: Oct 20 at 7:44PM
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 Marcus & Millichap - Orlando
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale medical office building is presented as an office/healthcare asset totaling 6,122 square feet, with a stated 9% cap rate in the listing remarks.
The property is located at 506 N Patterson St, Valdosta, GA 31601.
The property is located at 506 N Patterson St, Valdosta, GA 31601.
Key Highlights
- Medical office building built in 1984
- 6,122 SF medical/office building
- Stated 9.00% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,436
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,068,720
$1.1M
Cap Rate 7%
$763,371
$763.4K
Cap Rate 9%
$593,733
$593.7K
Market Conditions
NOI Build-Up for 6,122 SF
Gross rent
$99.2K $16.20/SF
− Vacancy
−$10.1K −$1.65/SF
EGI
$89.1K $14.55/SF
− OpEx
−$35.6K −$5.82/SF
NOI
$53.4K $8.73/SF
Area
Lowndes County, GA
Vacancy
10.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,068,720
Cap Rate 7%
$763,371
Cap Rate 9%
$593,733
Alternative Uses
Best Use
Healthcare Medical
$763.4K
$668.0K – $890.6K
NOI $53,436 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$929.4K
$813.3K – $1.08M
NOI $65,060 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Medical center - For-sale medical office building with a stated 9% cap rate.
Where is this medical center located?
The property is located at 506 N Patterson St Valdosta, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Medical office building built in 1984; 6,122 SF medical/office building; Stated 9.00% cap rate
