Licensed Personal Care
511 N Monroe St, Albany, GA 31701
For Sale
$165,000
Commercial Sale, Albany, GA
Property Size2,064 SF
Lot Size0.50 Acres
Price / SF$79.94
Days on Market93
Property Features for 511 N Monroe St
General Information
Property type
Property subtype
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Floors in Building
Number of units
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: Oct 20
Last Checked: Nov 7 at 2:06PM
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.
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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 / 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
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
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
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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
