Brick Mixed-Use Commercial
For Sale
$295,000
810 N Slappey Blvd, Albany, GA 31701
Office and retail improvements include central air and an established veterinary-office layout.
Property Size3,000 SF
Price / SF$88.94
Days on Market614
Property Features for 810 N Slappey Blvd
General Information
Standard status
Active
Size
3,000 SF
Property subtype
General Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,995
Amenities
Central Air
3
Commercial
Other.
Building Details
Year Built
1951
Buildings
1
Building Size
3,000 SF
Construction
brick
Listing Agency:
COLDWELL BANKER WALDEN & KIRKLAND
(229) 886-0422
Listed By:
Woody Watson
(229) 886-0422
Source:
Xome
Added: Dec 25, 2024
Changed: Aug 30
Last Checked: Aug 31 at 1:58PM
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 COLDWELL BANKER WALDEN & KIRKLAND
Investment Insights
Based on property information with market context.
This 3,317-square-foot mixed-use commercial building combines office and retail functionality within a brick structure built in 1951. The property currently operates as a veterinary office and includes central air conditioning, providing an existing professional-service configuration.
The building fronts N. Slappey Drive and is described as having strong visibility. Its combination of office and retail space supports continued use as a service-oriented commercial property, subject to applicable approvals and configuration needs.
The building fronts N. Slappey Drive and is described as having strong visibility. Its combination of office and retail space supports continued use as a service-oriented commercial property, subject to applicable approvals and configuration needs.
Key Highlights
- 3,317‑square‑foot mixed‑use office and retail building
- Brick commercial construction completed in 1951
- Currently configured and used as a veterinary office
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
$24,937
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
8.45%
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%
$498,740
$498.7K
Cap Rate 7%
$356,243
$356.2K
Cap Rate 9%
$277,078
$277.1K
Market Conditions
NOI Build-Up for 3,317 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
$39.8K $12.00/SF
− Vacancy
−$4.2K −$1.26/SF
EGI
$35.6K $10.74/SF
− OpEx
−$10.7K −$3.22/SF
NOI
$24.9K $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%
$498,740
Cap Rate 7%
$356,243
Cap Rate 9%
$277,078
Alternative Uses
Best Use
Office B
$415.8K
$363.8K – $485.1K
NOI $29,107 @ 7.0% cap · market cap 9.87%
Second Best
Healthcare Medical
$412.2K
$360.7K – $480.9K
NOI $28,856 @ 7.0% cap · market cap 9.78%
Theoretical Best
Office A
$652.8K
$571.2K – $761.6K
NOI $45,695 @ 7.0% cap · market cap 15.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
615
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 - Office and retail improvements include central air and an established veterinary-office layout.
Where is this mixed-use property located?
The property is located at 810 N Slappey Blvd Albany, GA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 3,317‑square‑foot mixed‑use office and retail building; Brick commercial construction completed in 1951; Currently configured and used as a veterinary office
