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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1707-1729 Norman Dr Valdosta, GA 31601

    • Lifestyle centers
    • 573,788 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 1707-1729 Norman Dr

    Property size
    573,788 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Promenade Plaza Shops, located at 1707-1729 Norman Dr in Valdosta, Georgia, presents a prime retail opportunity. This multi-tenant strip center and shopping center boasts a total of 573,788 square feet of space. Currently, there are 24,363 square feet of vacant space available for lease, offering flexible options for businesses of various sizes. Units range from a minimum of 900 square feet to a maximum contiguous space of 13,163 square feet, providing ample room for expansion or smaller-scale operations. The property is situated in Lowndes County, Georgia, zip code 31601, offering convenient access for customers and employees. Nine individual spaces are currently available, providing a diverse range of leasing possibilities. This established retail center presents a strong opportunity for businesses seeking high visibility and a strategic location within a thriving community. The property's size and layout offer significant potential for a variety of retail concepts. Interested parties are encouraged to inquire about available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Valdosta
    County
    Lowndes
    State
    Georgia
    Longitude
    -83.318
    Latitude
    30.8408

    Comparable in this City

    • Value Estimation by Request
      18,095 SF

      727 Patterson St

      SHOPPING CENTER, STRIP CENTER • 18,095 SF
      727 Patterson St, Valdosta, GA 31601-6069
      View Details
    • Value Estimation by Request
      9,156 SF

      917 Baytree Dr

      SHOPPING CENTER, STRIP CENTER • 9,156 SF
      917 Baytree Dr, Valdosta, GA 31601-3641
      View Details
    • Value Estimation
      $745,000
      4,275 SF

      1709 Gornto Rd Ste C

      SHOPPING CENTER, STRIP CENTER • 4,275 SF
      1709 Gornto Rd Ste C, Valdosta, GA 31601-8407
      View Details
    • Value Estimation by Request
      5,904 SF

      824 Gordon St

      SHOPPING CENTER, STRIP CENTER • 5,904 SF
      824 Gordon St, Valdosta, GA 31601
      View Details
    • Value Estimation by Request
      3,300 SF

      1744 Gornto Rd

      SHOPPING CENTER, STRIP CENTER • 3,300 SF
      1744 Gornto Rd, Valdosta, GA 31601-8417
      View Details
    • Value Estimation by Request
      6,652 SF

      321 Saint Augustine Rd

      SHOPPING CENTER, STRIP CENTER • 6,652 SF
      321 Saint Augustine Rd, Valdosta, GA 31601-4238
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      49,800 SF

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      4,800 SF

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      Restaurant Space Near I-75

      Former restaurant space with high traffic and ample parking.
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      Retail space available for lease on Saint Augustine Road.
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      Downtown Valdosta Storefront Opportunity

      Versatile 1,608 SF space ideal for retail or office.
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      4,907 SF

      Versatile Commercial Space in Remerton

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      1903 Baytree Pl, Valdosta, GA 31601
      View Details
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    Valdosta, GA 31601
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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
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