Licensed Personal Care
For Sale
$165,000
511 N Monroe St, Albany, GA 31701
Commercial Sale, Albany, GA
Property Size2,064 SF
Lot Size0.50 Acres
Price / SF$79.94
Days on Market48
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
Size
2,064 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Deed Book Page - 3919/134 Dougherty Co
Tax Annual Amount
1277
Legal Description
Deed Book Page - 3919/134 Dougherty Co
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
Changed: Sep 22
Last Checked: Sep 23 at 6:06AM
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.
This 2,064-square-foot assisted living property was built in 1935 and is currently configured as a licensed Personal Care Home. The layout includes four bedrooms designed for two residents each, two full bathrooms, a kitchen with appliances, a small office, and a community room. A front porch with ceiling fans and furnishings extends the usable resident area, while the fenced backyard provides additional outdoor space.
Recent capital improvements include new HVAC, updated plumbing and wiring, a sprinkler system, and a fire and alarm system. The property occupies 0.5 acres at 511 N Monroe St in Albany, Georgia, and the adjoining lot is available for purchase to expand recreational space.
Recent capital improvements include new HVAC, updated plumbing and wiring, a sprinkler system, and a fire and alarm system. The property occupies 0.5 acres at 511 N Monroe St in Albany, Georgia, and the adjoining lot is available for purchase to expand recreational space.
Key Highlights
- Licensed Personal Care Home configuration
- Four bedrooms designed for two residents each
- 2,064 square feet on 0.5 acres
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
7.66%
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 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$406.2K
$355.4K – $473.9K
NOI $28,434 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,632
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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
- Senior Ally Personal Care Home — 510 W Broad Ave Suites A & B, 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
Frequently Asked Questions
What type of property is this?
Assisted living facility - Configured care-home property with resident bedrooms, shared spaces, updated systems, and outdoor areas in Albany.
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; Four bedrooms designed for two residents each; 2,064 square feet on 0.5 acres
