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    600 Plant Ave Waycross, GA 31501

    For Sale
    $3,100,000

    Georgia Office Buildings, 9% Cap Rate

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a portfolio of three stabilized Class B creative office buildings in Waycross, Georgia, totaling $3,100,000 asking price and boasting a 9.00% cap rate. The portfolio enjoys 100% occupancy with a strong NOI of $278,895. The buildings are situated at 600 Plant Ave, Waycross, GA 31501. One building, occupied by the Department of Labor for over 30 years, recently underwent significant renovations including a new roof, electrical upgrades, interior and exterior painting, and new HVAC units, totaling $200,000-$250,000 in improvements. Another tenant, Diversified Resources Inc., a privately-owned corporation providing services to disabled and older adults, has occupied their three buildings for over 15 years and recently agreed to a 5-year lease renewal starting October 1st, 2024. Barnes Health, a tenant for over 10 years, recently renewed their lease for two years with a two-year option, and Lincare, a long-term tenant (lease through 2025), occupies 1650 square feet. Waycross Liquidators extended their lease until September 30th, 2026. All buildings feature new awnings. This portfolio offers a diversified tenant base with long-term leases, making it an attractive and stable investment opportunity. The modified lease structure provides additional flexibility. This is a multi-tenant property with a proven track record of success.

    Property Features for 600 Plant Ave

    General Information

    Property type
    Office space
    Class
    B

    HighLights

    • Three stabilized Class B creative office buildings in Waycross, GA, totaling $3,100,000 asking price with a 9.00% cap rate.
    • 100% occupancy with a strong NOI of $278,895.
    • Located at 600 Plant Ave, Waycross, GA 31501.
    • Recent renovations totaling $200,000-$250,000 on one building, including roof, electrical, HVAC, and paint.
    • Diversified tenant base with long‑term leases, including recent renewals and extensions.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Department of Labor City Employment Department Waycross Career Center, ... Employment Agency

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waycross
    County
    Ware
    State
    Georgia
    Longitude
    -82.3559965
    Latitude
    31.2124603

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    FAQs

    What type of property is this?
    Office space - Georgia Office Buildings, 9% Cap Rate
    Where is this office space located?
    The property is located at 600 Plant Ave Waycross, GA.
    What is the asking price?
    The asking price for this property is $3,100,000.
    What are key features of this property?
    This property features: Three stabilized Class B creative office buildings in Waycross, GA, totaling $3,100,000 asking price with a 9.00% cap rate.; 100% occupancy with a strong NOI of $278,895.; Located at 600 Plant Ave, Waycross, GA 31501.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    600 Plant Ave Waycross, GA 31501
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