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    The Largest CRE Database in the US with Over 1 Million Listings

    1001 Slappey Blvd Albany, GA 31701

    Sponsored
    For Sale
    $799,900

    Albany, GA: 58,401 SF, High Potential

    Property size:
    58,401 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    416
    This exceptional mixed-use property, located at 1001 S Slappey Blvd in Albany, Georgia, presents a compelling investment opportunity. The 10.097-acre site boasts 58,401 square feet of building space, strategically situated near the airport, major industrial areas, and key trucking routes. The property includes a main building encompassing 43,795 square feet, featuring 28,000 square feet of garage/warehouse space and 15,795 square feet of climate-controlled office, showroom, and parts room areas. Three additional buildings provide further versatility: a 12,040-square-foot former body shop, a 1,890-square-foot storage building, and a 676-square-foot sales office. The property's infrastructure is robust, featuring seven fenced acres, five acres of asphalt paving, and 2.9 acres of open land. Two commercial entrances, ample pole lighting, and gated alley access enhance functionality and security. The property is currently 50% occupied, generating a monthly income stream from several tenants. A car lot leases one side for $3,000 per month, a secondary mechanic shop pays $500 per month, a Wallace Shop in the back leases for $1,000 per month, and a newly leased warehouse brings in an additional $3,000 monthly. Built in 1972 with renovations in 1980 and 1985, this Class C property is zoned C4 and offers 14,606 square feet of net rentable space, priced at $13.70 per square foot. This property offers significant upside potential for a savvy investor.

    Property Features for 1001 Slappey Blvd

    General Information

    Property type
    Mixed-use properties
    Square Feet
    58,401 SF
    Class
    C

    Building Details

    Year Built
    1972
    Buildings
    5
    Stories
    1

    We can help!

    Listing Contact
    Tambi Wingate Williams
    Tambi Wingate Williams

    Learn more

    Property Insight Report

    HighLights

    • Strong existing cash flow with $7,500 monthly rental income from four tenants.
    • High‑visibility corner lot with existing car dealership sales office.
    • Secondary income streams from a mechanic shop and warehouse.
    Property Profile Location Intelligence

    Current Use by Public Records

    higi Health Consultant Beauty Depot super ... Beauty Supply Store Third Avenue Shopping ... Shopping Mall Car Nation Auto ... Used Car Dealer

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Dougherty
    State
    Georgia
    Longitude
    -84.1772687
    Latitude
    31.5639683

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    FAQs

    What type of property is this?
    Mixed-use property - Albany, GA: 58,401 SF, High Potential
    Where is this mixed-use property located?
    The property is located at 1001 Slappey Blvd Albany, GA.
    What is the asking price?
    The asking price for this property is $799,900.
    What are key features of this property?
    This property features: Strong existing cash flow with $7,500 monthly rental income from four tenants.; High-visibility corner lot with existing car dealership sales office.; Secondary income streams from a mechanic shop and warehouse.
    Request Owner's contact information
    1001 Slappey Blvd Albany, GA 31701
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1001 Slappey Blvd Albany, GA 31701
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    Listing Contact
    Tambi Wingate Williams
    Tambi Wingate Williams
    Learn more
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