360 Bay St Augusta, GA 30901-1546

Property Details for 360 Bay St

Year built

1970

Lot size

1.22 lot acres

Property size

45,148 SF

Zone code

B-1

Property type

Commercial land

APN

047-2-009-00-0

APU

472009000

Description

This exceptional investment opportunity presents a vacant, four-story office building totaling 46,938 square feet (39,835 net rentable) situated in the heart of downtown Augusta, Georgia. The property, built in 1970, is classified as Class B and features a desirable NN+ lease type. Currently vacant, it offers significant potential for redevelopment, particularly as a multifamily residential complex, hotel, mixed-use development, or medical facility. The 1.22-acre lot boasts 121 on-site parking spaces, a significant advantage in a downtown setting. The building benefits from a new roof and an existing sprinkler system. Its central location provides easy access to major roadways including Gordon Highway, Aiken/Augusta Highway, I-20, and the Bobby Jones Expressway, placing it just nine minutes from the medical district and Augusta University. The property overlooks the Savannah River, offering stunning views and proximity to the Masters Tournament, presenting additional rental opportunities. Located in an Opportunity Zone, this property presents a unique chance to acquire a substantial asset well below replacement cost. The B-1 zoning permits a variety of uses, and the property's proximity to Fort Eisenhower and cyber-related activities further enhances its investment appeal. Considerable potential incentives may include affordable housing considerations, Opportunity Zone benefits, tax abatement, historic tax credits, and green design incentives. The asking price is $1,700,000 ($41.67 per square foot). The property's address is 360 Bay St, Augusta, GA 30901. APN: 047-2-009-00-0.