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    1208 Broad St Augusta, GA 30901

    Sponsored
    For Lease
    $16 SF/Yr ($12,572 /Mo)

    Historic Broad Street retail, multiple spaces available

    Lot size:
    9,429 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    This exceptional three-story mixed-use building, located at 1208 Broad Street in Augusta, Georgia (30901), presents a unique investment opportunity. Boasting a total of 9,429 square feet, the property sits on a 0.19-acre lot and was constructed in 1965. Currently, there are three retail spaces available, ranging from 3,079 to 3,175 square feet, totaling 6,000 square feet of vacant space. The building's prime location at the corner of 12th and Broad Street places it within easy walking distance of the Augusta Riverwalk, Augusta Common, and the Convention Center, ensuring high visibility and foot traffic. This vibrant area is the heart of Augusta's dining, shopping, and entertainment district. The building is zoned COMMERCIAL (APN: 036-4-214-00-0) and features separate accesses for each tenant, making it ideal for multiple businesses. Its historic character adds to its charm and appeal, while its multi-tenant design offers flexibility and potential for diverse income streams. The building's three stories provide ample space for a variety of uses, making it a versatile and attractive option for investors seeking a strong presence in a thriving downtown location. This is a rare opportunity to acquire a well-situated, established property in a high-demand area.

    Property Features for 1208 Broad St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    9,429 SF
    Total Rate
    12572

    Building Details

    Year Built
    1965
    Stories
    3

    Spaces For Lease

    at 1208 Broad St, Augusta, GA 30901 Contact us
    Unit 3rd Floor Suite

    $16 /Mo

    Size
    3,079 SF
    Contact us
    Unit 1st Floor Suite

    $16 /Mo

    Size
    3,175 SF
    Contact us
    Unit 2nd Floor Suite

    $16 /Mo

    Size
    3,175 SF
    Contact us

    We can help!

    Listing Contact
    Liam Welch
    Liam Welch

    Learn more

    Property Insight Report

    HighLights

    • First floor: 3,175 SF of versatile space suitable for restaurant, retail, or office use.
    • Second floor: 3,175 SF of office space.
    • Third floor: 3,079 SF of office space.
    • Historic building featuring a skylight.
    • Rear freight elevator.
    • Interior stairwell.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Garden City Solar ... Solar Energy Company

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Augusta
    County
    Columbia
    State
    Georgia
    Longitude
    -81.97299970775
    Latitude
    33.477761087824

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    FAQs

    What type of property is this?
    Individual retail property - Historic Broad Street retail, multiple spaces available
    Where is this individual retail property located?
    The property is located at 1208 Broad St Augusta, GA.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: First floor: 3,175 SF of versatile space suitable for restaurant, retail, or office use.; Second floor: 3,175 SF of office space.; Third floor: 3,079 SF of office space.
    (706) 736-1031
    Request Owner's contact information
    1208 Broad St Augusta, GA 30901
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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
    1208 Broad St Augusta, GA 30901
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    We can help!
    Listing Contact
    Liam Welch
    Liam Welch
    Real Estate License ID: 425517
    (706) 736-1031
    Learn more
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