Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1607 Patterson St Valdosta, GA 31602-3826

    • Office Properties & Spaces
    • 3,679 SF
    • 0.63 lot acres
    OFF-MARKET
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2030696
    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

    • Stevens & Keesling / Tax Preparation Service
    • Dean's Heating and Air LLC / Hvac Contractor / Appliance Parts Supplier
    • Stevens Joseph G CPA / Accountant
    • Lyons Holly CPA / Accountant

    Property Details for 1607 Patterson St

    Year built
    1930
    Construction
    WOOD FRAME
    Lot size
    0.63 lot acres
    Property size
    3,679 SF
    Zone code
    R-10
    Property type
    Office Properties & Spaces
    APN
    0115B-071
    APU
    0115B071

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $505,000
      6.5%
      $465,000
      7%
      $435,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $738,000
      Market price range: $381k - $924k
      AI Estimate
      $604,000
      Market price range: $294k - $807k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $665,000
      Current use
      MEDICAL BUILDING
      $565,000
      Change: -15% Conversion: Easy
      RETAIL STORES
      $535,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Valdosta
    County
    Lowndes
    State
    Georgia
    Longitude
    -83.2874
    Latitude
    30.8512
    CBSA code
    46660
    CBSA name
    VALDOSTA, GA 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
    2023
    $5,000
    $75,600
    $92,240
    $167,840
    -
    $189,000
    $230,600
    $419,600

    Comparable in this City

    • Value Estimation by Request
      2,728 SF

      2262 Jaycee Shack Rd

      OFFICE (GENERAL) • 2,728 SF
      2262 Jaycee Shack Rd, Valdosta, GA 31602-6474
      View Details
    • Value Estimation by Request
      1,500 SF

      1801 Park Ave

      OFFICE (GENERAL) • 1,500 SF
      1801 Park Ave, Valdosta, GA 31602-4417
      View Details
    • Value Estimation by Request
      1,839 SF

      1706 Ashley St

      OFFICE (GENERAL) • 1,839 SF
      1706 Ashley St, Valdosta, GA 31602-3023
      View Details
    • Value Estimation by Request
      990 SF

      606 Baytree Rd

      OFFICE (GENERAL) • 990 SF
      606 Baytree Rd, Valdosta, GA 31602-2811
      View Details
    • Value Estimation by Request
      1,859 SF

      2218 Patterson St

      OFFICE (GENERAL) • 1,859 SF
      2218 Patterson St, Valdosta, GA 31602-2578
      View Details
    • Value Estimation by Request
      1,337 SF

      103 Wayne Ave

      OFFICE (GENERAL) • 1,337 SF
      103 Wayne Ave, Valdosta, GA 31602-2582
      View Details

    Similar Nearby for Sale

    • $579,900
      4,406 SF

      Valdosta Commercial Building on Baytree

      Spacious commercial building with offices, parking, and modern amenities.
      1216 Baytree Rd, Valdosta, GA 31602
      View Details
    • $499,000
      2,688 SF

      Valdosta Commercial Property For Sale

      Large corner lot property near SGMC, suitable for office conversion.
      2316 Toombs St, Valdosta, GA 31602
      View Details
    • $725,000
      4,842 SF

      Valdosta Office Building For Sale

      Professional office building with functional space in a stable location.
      1108 Gornto Rd, Valdosta, GA 31602
      View Details
    • $549,000
      3,789 SF

      Valdosta Professional Office Near Hospital

      Move-in ready office near South Georgia Medical Center.
      2301 Bemiss Rd, Valdosta, GA 31602
      View Details
    • $845,000
      6,216 SF

      Stabilized Multi-Tenant Office Investment

      Multi-tenant office property near SGMC & Moody AFB.
      411-415 Cowart Ave, Valdosta, GA 31602
      View Details
    • $141,000
      9.68 Acres

      Valdosta Commercial Land - $141K

      9.68 Acres, R-10 Zoning, Development Ready
      2900 Barack Obama Blvd, Valdosta, GA 31602
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      3,400 SF

      Prime Office Space, Lowndes County

      Move-in ready, large office space available.
      3141 Ashley St, Valdosta, GA 31602
      View Details
    • Contact for pricing
      1,845 SF

      Renovated Office Space Available

      Move-in ready, renovated office space with modern amenities.
      101 C Northside Dr, Valdosta, GA 31602
      View Details
    • New
      Contact for pricing
      1,140 SF

      Move-in Ready Valdosta Office Space

      Professional office space in well-maintained complex, ideal for various uses.
      2935-115 Ashley St, Valdosta, GA 31602
      View Details
    • Contact for pricing
      2,000 SF

      Valdosta Office Retail Hybrid Space

      2000 SF office-retail space for lease on Inner Perimeter Rd.
      3971 Inner Perimeter Rd, Valdosta, GA 31602
      View Details
    • Contact for pricing
      1,200 SF

      Modern Flex Space Near I-75

      Three-year-old office/warehouse flex building with modern amenities and highway visibility.
      19358 Valdosta Hwy, Valdosta, GA 31602
      View Details
    • Contact for pricing
      1,600 SF

      Valdosta Office Space For Lease

      Well-maintained office building with functional space in a high-visibility location.
      2914 Oak St, Valdosta, GA 31602
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1607 Patterson St
    Valdosta, GA 31602-3826
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.