Grocery-Convenience Retail
For Sale
$400,000
707 W Highland Avenue, Albany, GA 31701
Commercial Sale, Albany, GA
Property Size4,151 SF
Lot Size0.80 Acres
Price / SF$96.36
Days on Market12
Property Features for 707 W Highland Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
Business Park
Directions
From US-19/US-82, take the exit toward Albany and continue onto W Highland Avenue. Follow W Highland Avenue to 707 W Highland Ave; the property is located along the main road.
Standard status
Active
APN
000DD/00007/022
Size
4,151 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2019
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1952
Building materials
Brick, Concrete
Listing Agency:
Market South Properties Inc.
(770) 898-4899
Listed By:
Israt Liju
(678) 704-1279
Added: Sep 23
Changed: Oct 3
Last Checked: Oct 4 at 7:06AM
MLS# 10866638
Copyright © 2026 Georgia Multiple Listing Service. 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 one-story retail property at 707 W Highland Avenue in Albany contains approximately 4,151 square feet. Constructed in 1952, the building has brick and concrete materials, central heating and central air conditioning, and a parking lot. It has been used for convenience and grocery retail, and is zoned C3 for food-store use.
The site has approximately 165 feet of frontage along W Highland Avenue and about 13 parking spaces.
The site has approximately 165 feet of frontage along W Highland Avenue and about 13 parking spaces.
Key Highlights
- Approximately 4,151 square feet in a single‑story building
- C3 zoning for food‑store use
- Approximately 165 feet of frontage on W Highland Avenue
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
$31,207
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
7.80%
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%
$624,140
$624.1K
Cap Rate 7%
$445,814
$445.8K
Cap Rate 9%
$346,744
$346.7K
Market Conditions
NOI Build-Up for 4,151 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
$49.8K $12.00/SF
− Vacancy
−$5.2K −$1.26/SF
EGI
$44.6K $10.74/SF
− OpEx
−$13.4K −$3.22/SF
NOI
$31.2K $7.52/SF
Area
Dougherty County, GA
Vacancy
10.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$624,140
Cap Rate 7%
$445,814
Cap Rate 9%
$346,744
Alternative Uses
Best Use
Retail
$445.8K
$390.1K – $520.1K
NOI $31,207 @ 7.0% cap · market cap 7.80%
Second Best
Specialty Retail
$422.8K
$370.0K – $493.3K
NOI $29,596 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$816.9K
$714.8K – $953.1K
NOI $57,184 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
10k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 22%
Hotels & Casinos 10%
Krystal
Dining
6,903 visits/mo
0.2 miles
U-Haul
Shops & Services
2,262 visits/mo
0.2 miles
Days Inn Albany-Oglethorpe Blvd.
Hotels & Casinos
1,014 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- International Food Mart — 500 S Jefferson St, Albany, GA 31701
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - C3 zoning supports food-store use, with central heating and air conditioning.
Where is this grocery and convenience store located?
The property is located at 707 W Highland Avenue Albany, GA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Approximately 4,151 square feet in a single‑story building; C3 zoning for food‑store use; Approximately 165 feet of frontage on W Highland Avenue
