C-C Zoned Office
For Sale
$349,900
706 N PATTERSON ST, Valdosta, GA 31601
Commercial Sale, Valdosta, GA
Property Size3,183 SF
Lot Size0.41 Acres
Price / SF$109.93
Days on Market271
Property Features for 706 N PATTERSON ST
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-C
Subdivision
PATTERSON ST
Standard status
Active
APN
0118A-101
Size
3,183 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LT 4 BLK 215
Tax Annual Amount
4032
Legal Description
LT 4 BLK 215
Building Details
Year built
1968
Listing Agency:
eXp Realty, LLC
(888) 959-9461
Listed By:
Beth Haun · License #3462350
(229) 560-4402
Added: Nov 26, 2025
Changed: Aug 20
Last Checked: Aug 24 at 7:06AM
MLS# 146924
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.
Investment Insights
Based on property information with market context.
This office building contains 3,183 square feet on a 0.41-acre parcel and was constructed in 1968. The property carries C-C zoning and is situated within a historic professional office district. Its position along N Patterson St places the building in a visible commercial setting suited to office-oriented occupancy.
The property is approximately 3 minutes from the Lowndes County Courthouse, 2 minutes from Valdosta State University, and 5 minutes from South Georgia Medical Center. Reported traffic volume is approximately 8,000–12,000 vehicles per day, providing measurable exposure along the corridor. The surrounding area is associated with professional offices and established civic activity in Valdosta.
The property is approximately 3 minutes from the Lowndes County Courthouse, 2 minutes from Valdosta State University, and 5 minutes from South Georgia Medical Center. Reported traffic volume is approximately 8,000–12,000 vehicles per day, providing measurable exposure along the corridor. The surrounding area is associated with professional offices and established civic activity in Valdosta.
Key Highlights
- 3,183‑square‑foot office building on 0.41 acres
- C‑C zoning designation
- Constructed in 1968
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
$24,579
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
7.02%
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%
$491,580
$491.6K
Cap Rate 7%
$351,129
$351.1K
Cap Rate 9%
$273,100
$273.1K
Market Conditions
NOI Build-Up for 3,183 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
$42.0K $13.20/SF
− Vacancy
−$9.2K −$2.90/SF
EGI
$32.8K $10.30/SF
− OpEx
−$8.2K −$2.57/SF
NOI
$24.6K $7.72/SF
Area
Lowndes County, GA
Vacancy
22.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
25.00%
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%
$491,580
Cap Rate 7%
$351,129
Cap Rate 9%
$273,100
Alternative Uses
Best Use
Office B
$351.1K
$307.2K – $409.7K
NOI $24,579 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$483.2K
$422.8K – $563.8K
NOI $33,826 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 31601, GA
32,331
Population
14,345
Households
2.3
Avg Household Size
33
Median Age
15%
College-Educated
82%
High-School Grad
159.0 sq mi
ZIP Area
203
Density / Sq Mi
$34,846
Median Household Income
$28,878
Median Earnings
$872
Median Rent
$112,600
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?
Office building - Established office setting near civic, university, and medical destinations with a professional commercial context.
Where is this office building located?
The property is located at 706 N PATTERSON ST Valdosta, GA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 3,183‑square‑foot office building on 0.41 acres; C‑C zoning designation; Constructed in 1968
