Multi-Unit Retail and Office
507 S Slappey Blvd Albany, GA 31707
507 S Slappey Blvd, Albany, GA, 31707
$749,900
For Sale
$749,900
9 fully leased units across three contiguous parcels along S Slappey Blvd with approximately 265 feet of frontage.
Property Size9,376 SF
Lot Size1.10 Acres
Price / SF$79.98
Days on Market126
Property Features for 507 S Slappey Blvd
General Information
- Standard status
- Active
- Size
- 9,376 SF
- Lot size
- 1.10 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1966
Listing agency
(229) 900-7900
Listed by
Compass Georgia
(229) 900-7900
Source
Xome
Added: Mar 18 Updated: Jul 21 at 11:53AM Checked: Jul 21 at 11:53AM
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 Compass Georgia
Investment Insights
Based on property information with market context.
This for-sale portfolio includes 9 units across three contiguous parcels totaling approximately 9,376 square feet on about 1.1 acres. The property is fully occupied and consists of a diversified mix of service, retail, and professional office users.
The buildings are positioned along S Slappey Boulevard, with approximately 265 feet of road frontage and an estimated 19,100 vehicles per day, supporting strong visibility and convenient access. The tenant mix includes a barber shop, formal event center, BBQ restaurant, photography studio, party supply retailer, non-profit organization, hair salon, and professional office users.
The property’s configuration also presents operational flexibility, including a potential drive-thru conversion for the far-left unit and adjacent land that may allow for expansion and/or supplemental income opportunities.
The buildings are positioned along S Slappey Boulevard, with approximately 265 feet of road frontage and an estimated 19,100 vehicles per day, supporting strong visibility and convenient access. The tenant mix includes a barber shop, formal event center, BBQ restaurant, photography studio, party supply retailer, non-profit organization, hair salon, and professional office users.
The property’s configuration also presents operational flexibility, including a potential drive-thru conversion for the far-left unit and adjacent land that may allow for expansion and/or supplemental income opportunities.
Key Highlights
- 9 units with 100% occupancy and reported $6,715/month in income
- Three contiguous parcels totaling 9,376 sqft on approximately 1.1 acres; built in 1966
- Approximately 265 ft of road frontage along S Slappey Blvd
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.6k | $10.20 |
| − Vacancy | −$6.5k | −$0.69 |
| EGI | $89.1k | $9.51 |
| − OpEx | −$22.3k | −$2.38 |
| NOI | $66.8k | $7.13 |
9,376 SF · lease $10.20/SF/yr · vacancy 6.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.37M
NOI $82,274 @ 7.0% cap · market cap 10.97%
Second Best
Retail
$1.01M
$881.1K – $1.17M
NOI $70,489 @ 7.0% cap · market cap 9.40%
Theoretical Best
Office A
$1.85M
$1.61M – $2.15M
NOI $129,164 @ 7.0% cap · market cap 17.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
South Side Tax
Accounting Firm
Krazià Swagg Beutiqueé
Clothing Store
Neki Nails
Nail Salon
Tax of America
Tax Preparation
Similar For Sale Nearby
Similar Off Market Nearby
- Southgate Plaza — 317 s slappey blvd, albany, ga 31701
- south slappey village — 1030 W Gordon Ave, Albany, GA 31701
- Eice Store — 300-318 william jr st, albany, ga 31707
FAQs
What type of property is this?
Shopping center - 9 fully leased units across three contiguous parcels along S Slappey Blvd with approximately 265 feet of frontage.
Where is this shopping center located?
The property is located at 507 S Slappey Blvd Albany, GA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 9 units with 100% occupancy and reported $6,715/month in income; Three contiguous parcels totaling 9,376 sqft on approximately 1.1 acres; built in 1966; Approximately 265 ft of road frontage along S Slappey Blvd
