122 Forsyth St Americus, GA 31709-3561

Property Details for 122 Forsyth St

Year built

1920

Construction

WOOD FRAME

Lot size

0.08 lot acres

Property size

9,243 SF

Zone code

2

Property type

Investment properties

Property subtype

Live-work space

APN

1 4 3

APU

143

Description

This stunning, fully renovated mixed-use building in Americus, Georgia's historic downtown district offers a unique investment opportunity. The 9,243 square foot property, originally constructed in 1892 and completely renovated in 2018, boasts six units: two ground-floor commercial spaces and four spacious loft apartments featuring 12-foot ceilings. Currently operating at 100% occupancy with long-term tenants, the property generates a substantial net operating income (NOI) of $40,500 annually, based on 2023 figures. Annual expenses, including insurance, taxes, water, maintenance, and management, totaled $19,500 in 2023. Tenants are responsible for their own utilities, with the landlord providing water. The building's prime location in the heart of downtown, near the Windsor Hotel and various amenities, ensures strong rental demand. The asking price is $485,000, representing a compelling cap rate of 8.35%. This property presents a rare chance to acquire a beautifully restored historic building with significant upside potential, situated in a thriving small town with strong economic indicators, including a growing university and proximity to national parks. The property is located in an Opportunity Zone, offering potential tax advantages. Undermarket rents and long-term tenants provide stability and potential for future rent increases.

Location Insight

City

Americus

County

Sumter

State

Georgia

Longitude

-84.2334

Latitude

32.073

CBSA code

11140

CBSA name

AMERICUS, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments