Licensed Personal Care
New
For Sale
$195,000
511 N Monroe St, Albany, GA 31701
COMMERCIAL - Albany, GA
Property Size2,064 SF
Lot Size0.50 Acres
Price / SF$94.48
Days on Market2
Property Features for 511 N Monroe St
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Located on N Monroe
Subdivision
Northwest Albany
Standard status
Active
APN
000CC/00023/014 - 015
Size
2,064 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Deed Book Page - 3919/134, 3977/328 Dougherty Co
Tax Annual Amount
1277
Legal Description
Deed Book Page - 3919/134, 3977/328 Dougherty Co
Amenities
front porch with ceiling fans
fenced backyard
community room
Building Details
Year built
1935
Floors in Building
1
Number of units
1
Listing Agency:
RE/MAX OF ALBANY · RE/MAX International
(229) 434-1600
Listed By:
Karen Richter · License #213956
(229) 854-3730
Added: Aug 7
Last Checked: Aug 8 at 11:06PM
MLS# 169696
Copyright © 2026 Albany Board of Realtors and Southwest Georgia MLS. 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.
The 2,064-square-foot property at 511 N Monroe St is configured as a licensed Personal Care Home. Four bedrooms accommodate two residents each, with two full bathrooms supporting the existing layout. Interior features include an appliance-equipped kitchen, a small office, and a community room for resident activities and gatherings.
Recent improvements include new HVAC, updated plumbing and wiring, a sprinkler system, and a fire/alarm system. Outdoor areas include a front porch furnished with ceiling fans and seating, along with a large fenced backyard. The adjoining lot provides additional recreational space. The property is located in Albany, GA 31701.
Recent improvements include new HVAC, updated plumbing and wiring, a sprinkler system, and a fire/alarm system. Outdoor areas include a front porch furnished with ceiling fans and seating, along with a large fenced backyard. The adjoining lot provides additional recreational space. The property is located in Albany, GA 31701.
Key Highlights
- Licensed Personal Care Home configuration
- Four bedrooms accommodating two residents each
- 2,064 square feet with two full bathrooms
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
969
Businesses Nearby
Well-served
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Barbara's Haven — 908 W Oglethorpe Blvd, Albany, GA 31701
- Charm's Personal Care Home — 900 W Residence Ave, Albany, GA 31701
- Affinis Hospice — 507 N Jefferson St, Albany, GA 31701
- Integrity Hospice of Albany — 611 N Jefferson St, Albany, GA 31701
- Senior Ally Personal Care Home — 510 W Broad Ave Suites A & B, Albany, GA 31701
Frequently Asked Questions
What type of property is this?
Assisted living facility - Configured care-home property with resident bedrooms, shared gathering space, updated systems, and outdoor areas.
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; Four bedrooms accommodating two residents each; 2,064 square feet with two full bathrooms
