Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Commercial Land in Albany Title is generated by Realmo AI

    0 Spanish Ct. Lot #8, Albany, GA 31707

    View on Map
    Claim this Listing
    For Sale
    $475,000

    0.73 acre site near Albany Mall with flexible zoning.

    Type:Land
    Added:
    Nov 25, 2025
    Days on Market:
    189
    Last Refresh:
    May 8 at 8:14 pm

    Property Features for 0 Spanish Ct. Lot #8

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Perry Hayes
    Perry Hayes

    Listing agent Perry Hayes License #GEORGIARELICENSE:216005

    Listing office Bull Realty, Inc. - Atlanta

    Listing date Nov 25, 2025

    Source Bullrealty

    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 Bull Realty, Inc. - Atlanta

    HighLights

    • Across from a 150+ acre potential mixed‑use development site (retail, residences, restaurants).
    • Flexible C‑2 zoning allowing numerous uses.
    • Ideal for fast food or single tenant applications.
    • Over 100k residents within a 20‑minute drive.
    • Near Albany Mall and national retailers.
    • Located in a strong and rapidly expanding submarket.

    Overview

    This 0.73-acre commercial land is located in a growing market with expansive development and construction underway in Albany, Georgia. The site benefits from flexible C-2 zoning, allowing for numerous uses, making it ideal for fast food or single-tenant applications. The property is near Albany Mall and national retailers. A potential mixed-use development spanning over 150 acres, which may include retail, residences, and restaurants, is planned across from the site. The location benefits from a strong submarket with over 100,000 residents within a 20-minute drive. Numerous new projects are underway in the surrounding area, including expanding roads, constructing new single-family communities, and a potential senior living facility. Many national retailers have expressed interest in this rapidly expanding market.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Albany
    County
    Dougherty
    State
    Georgia
    Longitude
    -84.2034
    Latitude
    31.6242

    Nearby Similar for Sale

    • $1,150,000
      11,400 SF

      Albany Office Building on 5.5 Acres

      Large one-level office building in northwest Albany with ample parking.
      3005 Old Dawson Road, Albany, GA 31721
      View Details
    • $699,999
      1,942 SF

      Restaurant Opportunity on Oglethorpe Boulevard

      Restaurant with drive-thru, equipment, and parking on busy highway.
      1716 E Oglethorpe blvd, Albany, GA 31705
      View Details
    • $1,200,000
      10,428 SF

      Albany Commercial Strip For Sale

      Prime commercial strip with leasing opportunities and high traffic exposure.
      2820 Meredyth Dr, Albany, GA 31707
      View Details
    • $3,000,000
      6,384 SF

      Hospitality Asset with Expansion Potential

      Operating motel with development-ready land in a desirable commercial corridor.
      1201 Schley Avenue, Albany, GA 31707
      View Details
    • $325,000
      2,822 SF

      Restored Albany Commercial Building

      Two-story brick building suitable for office, medical, or professional use.
      410 Society Avenue W, Albany, GA 31701
      View Details
    • $169,900
      1,962 SF

      Versatile Commercial Property in Albany

      Well-suited commercial property with recent updates and flexible layout.
      700 Slappey Blvd N, Albany, GA 31707
      View Details
    • $99,000

      Albany Commercial Land For Sale

      2.57 acre commercial land with high visibility and accessibility.
      1434 South Mock Road, Albany, GA 31708
      View Details
    • $599,900
      1,390 SF

      Prime Albany Commercial Corner Lot

      Established auto dealership, ideal for redevelopment or continued use.
      1307 Slappey Blvd N, Albany, GA 31707
      View Details
    • $325,000
      4,478 SF

      Albany Office/Meeting Space For Sale

      4,478 SF mixed-use commercial space in growing historical district.
      310 Tift Avenue, Albany, GA 31701
      View Details
    • $205,000
      2,041 SF

      Turn-Key Day Care Center

      Profitable day care center ready for its next owner.
      1002 Tenth Ave, Albany, GA 31701
      View Details
    • $1,495,000
      8,050 SF

      Remodeled Commercial Building, High Visibility

      Remodeled 8,300 SF commercial building on high-traffic corner.
      1600 E Oglethorpe Blvd, Albany, GA 31705
      View Details
    • $149,900

      Prime Commercial Acreage For Sale

      6.85-acre commercial site with frontage and income potential.
      S Mock Road, Albany, GA 31705
      View Details

    FAQs

    What type of property is this?
    Commercial land - 0.73 acre site near Albany Mall with flexible zoning.
    Where is this commercial land located?
    The property is located at 0 Spanish Ct. Lot #8 Albany, GA.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Across from a 150+ acre potential mixed‑use development site (retail, residences, restaurants).; Flexible C‑2 zoning allowing numerous uses.; Ideal for fast food or single tenant applications.
    (404) 876-1640
    We can help!
    Listing Contact
    Perry Hayes
    Perry Hayes
    Real Estate License ID: GEORGIARELICENSE:216005
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    0 Spanish Ct. Lot #8, Albany, GA 31707
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!