Current Use by Public Records
- Downtown Development Authority / County Government Office
- Anagen Salon / Hair Salon
Property Details for 1101 Greene St
- Year built
- 1931
- Lot size
- 0.17 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Office Spaces
Description
This exceptional mixed-use investment opportunity presents a 4,952 square foot, two-story building situated on a 0.17-acre lot in the heart of Augusta, Georgia. The Cartledge Building, constructed in 1931 and renovated in 2002 and 2019, boasts a desirable B-Class designation and offers a blend of creative office, medical office, and storefront spaces, currently housing four tenants. With a stabilized investment profile, the property features a strong 8.80% cap rate and a net operating income (NOI) of $44,356. The asking price is $504,000, translating to $101.78 per square foot. The 4,467 square feet of net rentable space enjoys a current occupancy rate of 64%, projected to reach full occupancy by September 18, 2024. Twelve parking spaces are available, including an adjoining lot at 305 Eleventh St. The property is zoned B1 and benefits from a high-visibility corner location, easily accessible by vehicle and within walking distance of downtown commercial and residential areas. Rent bumps are in place, and the property has a proven track record of long-term rentals. Detailed financial statements, pro forma, and capital equipment lists are available upon request. The information provided is believed to be accurate but should be independently verified.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Augusta
- County
- Richmond
- State
- Georgia
- Longitude
- -81.9718
- Latitude
- 33.4757
