Renovated Commercial Property, Valdosta,
550 S Patterson St, Valdosta, GA 31601
COMMERCIAL - Valdosta, GA
Property size:
4,250 SFLot size:
1.29 AcresPrice / SF:
$140/SF- Added:
- Jun 27, 2025
- Days on Market:
- 331
- Last Refresh:
- May 23 at 8:06 am
Property Features for 550 S Patterson St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C-H, R-6
- Standard status
- Active
- APN
- 0120D-004,005,006
- Size
- 4,250 SF
- Lot size
- 1.29 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 3 parcels
- Tax Annual Amount
- 1589
Building Details
- Year built
- 1950
Listing agent Scott Alderman License #109748 (229) 561-1939
Listing office FIRST COMMERCIAL REAL ESTATE 5273 Bethany Dr., VALDOSTA, GA (229) 561-1939
Listing date Jun 27, 2025
MLS# 145398
Copyright © 2026 South Georgia MLS (Valdosta). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Completely renovated main building (4250 sf) in 2024 with all‑new roof, HVAC, electrical, lighting, floors, walls, ceilings, paint, and bathroom.
- Large 1.29‑acre lot (3 parcels) offering ample parking and potential for further development or redevelopment.
- High visibility location on S Patterson St with 22,900 vehicles/day traffic and significant foot traffic.
- Multi‑use zoning (C‑H and R‑6) allows for retail, grocery, restaurant, residential, and other commercial applications.
- Includes 4 small vacant rental houses on Hines St for additional income.
- All masonry construction of the main building.
Overview
This multi-use commercial-investment property offers room for expansion and is situated on a 1.29-acre lot comprising three parcels. The front main building, constructed entirely of masonry, spans 4250 square feet and has been completely renovated in 2024. Renovations include a new roof, HVAC system, electrical and lighting systems, flooring (slab), walls, ceilings, paint, and bathroom, as well as a new front counter suitable for retail sales. The property is suitable for various uses, including retail, grocery, convenience store, or restaurant. The front section of the property is zoned C-H, while the rear is zoned R-6. Included are four small vacant rental houses on Hines Street, partially renovated, offering potential for additional income. The property benefits from high visibility, with a traffic flow of 22,900 vehicles per day, as well as significant foot traffic. It is located on the main artery of S Patterson Street, just south of the downtown overpass and near several major traffic connectors.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$435.7K
NOI $39,214 @ 9.00% cap · cautious / downside scenario
Moderate
$560.2K
NOI $39,214 @ 7.00% cap · market / base-case scenario
Aggressive
$784.3K
NOI $39,214 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.1k | $13.20 |
| − Vacancy | −$3.8k | −$0.90 |
| EGI | $52.3k | $12.30 |
| − OpEx | −$13.1k | −$3.08 |
| NOI | $39.2k | $9.23 |
4,250 SF · lease $13.20/SF/yr · vacancy 6.80% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$560.2K
$490.2K – $653.6K
NOI $39,214 @ 7.0% cap · market cap 6.59%
Second Best
Retail
$479.3K
$419.4K – $559.2K
NOI $33,549 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$645.2K
$564.6K – $752.8K
NOI $45,166 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Valdosta
- County
- Lowndes
- State
- Georgia
- Longitude
- -83.2757103
- Latitude
- 30.8242193
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Multi-use commercial-investment property with room to grow.
Where is this retail space located?
The property is located at 550 S Patterson St Valdosta, GA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Completely renovated main building (4250 sf) in 2024 with all‑new roof, HVAC, electrical, lighting, floors, walls, ceilings, paint, and bathroom.; Large 1.29‑acre lot (3 parcels) offering ample parking and potential for further development or redevelopment.; High visibility location on S Patterson St with 22,900 vehicles/day traffic and significant foot traffic.
