Mixed-Use Building with Loading
For Sale
$1,100,000
610 W Oglethorpe Blvd, Albany, GA 31701
Versatile commercial building with multiple offices, classrooms, multipurpose rooms, and central air.
Property Size12,975 SF
Price / SF$84.78
Days on Market132
Property Features for 610 W Oglethorpe Blvd
General Information
Standard status
Active
Size
12,975 SF
Property subtype
General Commercial
Amenities
Loading Dock
Multiple Offices & Classrooms
Numerous Multi-Purpose Rooms
Central Air
3
Business
45 Parking Spaces.
Dock. Other, City Road, Paved Road.
Building Details
Year Built
1972
Buildings
1
Listing Agency:
The 11th Hour Realty Brokerage Group
(229) 485-7091
Listed By:
Shamine Daniels
(229) 485-7091
Source:
Xome
Added: Apr 22
Changed: Aug 30
Last Checked: Aug 30 at 3:07PM
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 The 11th Hour Realty Brokerage Group
Investment Insights
Based on property information with market context.
The property includes a 12,975-square-foot commercial building constructed in 1972 and positioned across three adjoining parcels. Interior improvements include multiple offices, classrooms, and multipurpose rooms, along with central air conditioning and a loading dock. The configuration supports medical use and a range of commercial, institutional, and community-oriented applications.
The parcels are located at 610 W Oglethorpe Blvd, 606 W Oglethorpe Blvd, and 207 S Madison St in Albany, Georgia. The property lies within a historic district and provides 45 parking spaces, with access from paved city roads. Together, the building and additional land create a unified multi-parcel commercial property.
The parcels are located at 610 W Oglethorpe Blvd, 606 W Oglethorpe Blvd, and 207 S Madison St in Albany, Georgia. The property lies within a historic district and provides 45 parking spaces, with access from paved city roads. Together, the building and additional land create a unified multi-parcel commercial property.
Key Highlights
- 12,975‑square‑foot commercial building constructed in 1972
- Three adjoining parcels included in the property
- 45 on‑site parking spaces
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
$72,790
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
6.62%
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%
$1,455,800
$1.5M
Cap Rate 7%
$1,039,857
$1.0M
Cap Rate 9%
$808,778
$808.8K
Market Conditions
NOI Build-Up for 12,975 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
$132.3K $10.20/SF
− Vacancy
−$15.9K −$1.22/SF
EGI
$116.5K $8.98/SF
− OpEx
−$43.7K −$3.37/SF
NOI
$72.8K $5.61/SF
Area
Dougherty County, GA
Vacancy
12.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
37.50%
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%
$1,455,800
Cap Rate 7%
$1,039,857
Cap Rate 9%
$808,778
Alternative Uses
Best Use
Office B
$1.63M
$1.42M – $1.90M
NOI $113,856 @ 7.0% cap · market cap 10.35%
Second Best
Mixed Use
$1.04M
$909.9K – $1.21M
NOI $72,790 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$2.55M
$2.23M – $2.98M
NOI $178,744 @ 7.0% cap · market cap 16.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,206
Businesses Nearby
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile commercial building with multiple offices, classrooms, multipurpose rooms, and central air.
Where is this mixed-use property located?
The property is located at 610 W Oglethorpe Blvd Albany, GA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 12,975‑square‑foot commercial building constructed in 1972; Three adjoining parcels included in the property; 45 on‑site parking spaces
