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    Property profile & analytics

    1505 Leg Rd Augusta, GA 30909

    • Commercial land
    • 23,160 SF
    • 1.23 lot acres
    For Sale
    View listing
    $1,500,000
    Last Sale
    Feb 01, 2021
    $850,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1046865
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • AUG Ceaning Service / Commercial Cleaning Service
    • OAK Restaurant and Lounge / Restaurant

    Property Details for 1505 Leg Rd

    Year built
    1971
    Lot size
    1.23 lot acres
    Property size
    23,160 SF
    Zone code
    B-2
    Property type
    Commercial land
    APN
    041-4-202-00-0
    APU
    414202000

    Description

    This 23,160 sq ft shopping center in Augusta, GA, presents a compelling value-add investment opportunity. Located on a 1.23-acre lot with excellent visibility and high traffic counts (35,800 VPD), this single-story, 1971-built property offers three units and convenient access to major highways (I-520) and retail centers (Augusta Mall). The property boasts a prominent location near a Walmart Supercenter and other national retailers, ensuring high foot traffic and strong potential for lease or redevelopment. The B2 zoning allows for a variety of uses. The site features right-in, right-out access on Wrightsboro Road and full motion ingress/egress on North Leg Road. The 3-mile radius boasts a population of 60,000 with a median household income of $61,200. This property is situated on a highly visible corner with 200 feet of road frontage. An adjacent 1.15-acre parcel is also available for purchase, creating a larger redevelopment opportunity. The property is ideally situated near Augusta University and Forest Hills Golf Course. This is a rare opportunity to acquire a well-located retail center with significant upside potential. The asking price is $1,500,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $800,000
      ML approach
      $1,000,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $752,000
      Market price range: $752k - $3.41M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Augusta
    County
    Richmond
    State
    Georgia
    Longitude
    -82.0685
    Latitude
    33.4687
    CBSA code
    12260
    CBSA name
    AUGUSTA-RICHMOND COUNTY, GA-SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $9,355
    $97,300
    $212,144
    $309,444
    -
    $243,250
    $530,360
    $773,610

    Comparable in this City

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      1.26 Acres

      1337 Interstate Pkwy

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      2.63 Acres

      1159 Interstate Pkwy

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    • Value Estimation by Request
      0.67 Acres

      4125 Madeline Dr

      VACANT COMMERCIAL LAND • 0.67 Acres
      4125 Madeline Dr, Augusta, GA 30909-9115
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    • Value Estimation by Request
      0.57 Acres

      3525 Wrightsboro Rd

      VACANT COMMERCIAL LAND • 0.57 Acres
      3525 Wrightsboro Rd, Augusta, GA 30909-2434
      View Details
    • Value Estimation by Request
      0.17 Acres

      3945 Wrightsboro Rd

      VACANT COMMERCIAL LAND • 0.17 Acres
      3945 Wrightsboro Rd, Augusta, GA 30909-9545
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Corner Development Property For Sale

      Corner development property with visibility and accessibility.
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      1.03 Acres in West Augusta

      1.03 acres zoned B-2 in West Augusta for development.
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      20 SF

      Multifamily Development Land Opportunity

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    Similar Nearby for Lease

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      Prime Land in Retail Corridor

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      2.46 acre parcel suitable for medical, office, or retail.
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      Prime Redevelopment Opportunity in Augusta

      1.15-acre site with high visibility and excellent connectivity.
      1501 N Leg Rd, Augusta, GA 30909
      View Details
    • $25 SF/Yr
      900 SF

      Augusta Flex Space: Office & Yard

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    • Contact for pricing
      112,385 SF

      West Augusta Retail Land Opportunity

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      View Details
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    1505 Leg Rd
    Augusta, GA 30909
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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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