Building Details

Year Built 1935

Units 1

Listing Agency: RE/MAX OF ALBANY

Listed By: Karen Richter · License #213956 Show Phone

Source: Crexi

Added: Aug 8 Changed: Oct 3 Last Checked: Oct 15 at 12:07AM

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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 RE/MAX OF ALBANY

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Investment Insights

Based on property information with market context.

This 2,064-square-foot assisted living property is configured as a licensed Personal Care Home. The floor plan includes four bedrooms, two full bathrooms, a kitchen with appliances, a small office, and a large community room. A front porch adds covered outdoor space, while the fenced backyard and adjoining lot provide additional recreational area.

The 1935 building has received functional system improvements, including new HVAC, updated plumbing and wiring, a sprinkler system, and a fire and alarm system. The existing configuration supports continued personal-care-home use, with the source information also identifying conversion as an option.

Key Highlights

• Licensed Personal Care Home configuration
• 2,064‑square‑foot building with four bedrooms and two full bathrooms
• Bedrooms accommodate two residents each

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,642

Cap Rate

7.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$252,840 $252.8K

Cap Rate 7%

$180,600 $180.6K

Cap Rate 9%

$140,467 $140.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,064 SF

Gross rent

$24.8K $12.00/SF

− Vacancy

−$1.8K −$0.86/SF

EGI

$23.0K $11.14/SF

− OpEx

−$10.3K −$5.01/SF

NOI

$12.6K $6.12/SF

Area

Dougherty County, GA

Vacancy

7.20%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$252,840

Cap Rate 7%

$180,600

Cap Rate 9%

$140,467

Alternative Uses

Best Use

Apartment 5plus

$180.6K

$158.0K – $210.7K (±1% cap)

NOI $12,642 @ 7.0% cap · market cap 7.66%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$406.2K

$355.4K – $473.9K (±1% cap)

NOI $28,434 @ 7.0% cap · market cap 17.23%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Abundant Living Personal ... Church

Suggested Use

Top Pick Locksmith Parking Lot & Garage Bakery Catering Service Storage Facility Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Sprinkler system

Location Intelligence

Trade Area within ½ mile

962

Businesses Nearby

Balanced

Demand for This Use

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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Frequently Asked Questions

What type of property is this?

Assisted living facility - Established care-home layout with resident accommodations, shared gathering space, and updated building systems.

Where is this assisted living facility located?

The property is located at 511 N Monroe St Albany, GA.

What is the asking price?

The asking price for this property is $165,000.

What are key features of this property?

This property features: Licensed Personal Care Home configuration; 2,064‑square‑foot building with four bedrooms and two full bathrooms; Bedrooms accommodate two residents each