Licensed Assisted Living
For Sale
Contact for pricing
511 N Monroe St, Albany, GA 31701
Established care-home layout with resident accommodations, shared gathering space, and updated building systems.
Property Size2,064 SF
Price / SF$94.48
Days on Market23
Property Features for 511 N Monroe St
General Information
Standard status
Active
Size
2,064 SF
Total Parking Spaces
4
Property subtype
Office
Additional Details
Sprinkler System
Yes
Amenities
front porch
fenced backyard
recreational lot
community room
office
Building Details
Year Built
1935
Units
1
Listing Agency:
RE/MAX OF ALBANY
(229) 317-4290
Listed By:
Karen Richter · License #213956
Source:
Crexi
Added: Aug 8
Changed: Aug 30
Last Checked: Aug 30 at 5:54AM
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
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.
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 = 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
$12,642
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
6.48%
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%
$252,840
$252.8K
Cap Rate 7%
$180,600
$180.6K
Cap Rate 9%
$140,467
$140.5K
Market Conditions
NOI Build-Up for 2,064 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
$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 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%
$252,840
Cap Rate 7%
$180,600
Cap Rate 9%
$140,467
Alternative Uses
Best Use
Apartment 5plus
$180.6K
$158.0K – $210.7K
NOI $12,642 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$406.2K
$355.4K – $473.9K
NOI $28,434 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $195,000.
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
