122 Forsyth St, Americus, GA 31709-3561
- Investment properties
- 9,243 SF
- 0.08 lot acres
Current Use by Public Records
- Albamonte Immigration Services / Law Firm
- Faaborg Law Office / Law Firm
Property Details for 122 Forsyth St
- Year built
- 1920
- Construction
- WOOD FRAME
- Lot size
- 0.08 lot acres
- Zone code
- 2
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 1 4 3
- APU
- 143
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 13, 2025 | $450,000 | Southwestern Historic Properties Ll | Motley Crew Investments LLC | Warranty Deed | $338k · Pinnacle Bank |
| Jul 1, 2019 | $330,000 | Motley Crew Investments LLC | Charles F Crisp | Warranty Deed | $418k · Peoples South Bank |
| Oct 29, 2009 | — | Charles F Crisp II | Henry L Crisp | Intrafamily Transfer · related | — |
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.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Americus
- County
- Sumter
- State
- Georgia
- Longitude
- -84.2334
- Latitude
- 32.073
- CBSA code
- 11140
- CBSA name
- AMERICUS, GA MICROPOLITAN STATISTICAL AREA
