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    Property profile & analytics

    1908 Memorial Dr Waycross, GA 31501

    • Drive through restaurants
    • 5,206 SF
    • 0.96 lot acres
    For Lease
    View listing
    Last Sale
    Jan 28, 2020
    $1,100,000
    Value Estimations
    $1,135,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2514976
    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

    • Starbucks / Coffee Shop / Breakfast Restaurant

    Property Details for 1908 Memorial Dr

    Year built
    1995
    Lot size
    0.96 lot acres
    Property size
    5,206 SF
    Zone code
    COMMERCIAL
    Property type
    Drive through restaurants
    APN
    WA24-01-025
    APU
    WA2401025

    Description

    This exceptional retail space, located at 1908 Memorial Drive in Waycross, Georgia, offers a fantastic opportunity for a single-tenant business. The property boasts a total of 2,487 square feet of readily available space, making it ideal for a variety of retail ventures. Situated in Ware County, with a convenient zip code of 31501, this property enjoys excellent visibility and accessibility. The entire building is currently vacant, presenting a blank canvas for a new tenant to customize and design their ideal retail environment. The property's single-tenant occupancy ensures complete control and flexibility for the lessee. This is a rare opportunity to establish a presence in a thriving Waycross community. The property's location offers easy access to major roadways and ample parking, ensuring convenient access for customers. With its generous square footage and prime location, this retail space is poised for success. Interested parties are encouraged to act quickly to secure this exceptional opportunity. The property is available for lease and is ready for immediate occupancy. Further details regarding lease terms and conditions are available upon request. This property is listed as a commercial retail space in Ware County, Georgia.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,200,000
      ML approach
      $1,345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $862,000
      Market price range: $390k - $945k

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

    Location Insight

    • Map
    • Local Demand
    City
    Waycross
    County
    Ware
    State
    Georgia
    Longitude
    -82.3336
    Latitude
    31.203
    CBSA code
    48180
    CBSA name
    WAYCROSS, GA MICROPOLITAN 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
    $9,486
    $83,636
    $154,394
    $238,030
    -
    $209,090
    $385,986
    $595,076

    Comparable in this City

    • Value Estimation by Request
      3,613 SF

      601 Memorial Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,613 SF
      601 Memorial Dr, Waycross, GA 31501-2910
      View Details
    • Value Estimation by Request
      2,432 SF

      2409 Plant Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,432 SF
      2409 Plant Ave, Waycross, GA 31501
      View Details
    • Value Estimation
      $865,000
      2,336 SF

      2609 Plant Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,336 SF
      2609 Plant Ave, Waycross, GA 31501-6062
      View Details
    • Value Estimation by Request
      874 SF

      768 Ossie Davis Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 874 SF
      768 Ossie Davis Pkwy, Waycross, GA 31501-4656
      View Details
    • Value Estimation by Request
      1,452 SF

      727 Knight Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,452 SF
      727 Knight Ave, Waycross, GA 31501-1943
      View Details
    • Value Estimation
      $685,000
      1,800 SF

      1767 Memorial Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,800 SF
      1767 Memorial Dr, Waycross, GA 31501
      View Details

    Similar Nearby for Sale

    • $2,000,000
      9,091 SF

      Waycross Commercial Property on Memorial

      Versatile commercial property in Waycross, Georgia, with high visibility.
      1506 Memorial Dr, Waycross, GA 31501
      View Details
    • New
      $325,000
      0.06 Acres

      Waycross Business Opportunity For Sale

      Established food service property with potential for Air B&B.
      311 Pendleton St, Waycross, GA 31501
      View Details
    • $260,000
      5,390 SF

      Downtown Waycross Retail Gem

      High-visibility corner retail space, huge potential.
      300 Mary St, Waycross, GA 31501
      View Details
    • $825,000
      4,122 SF

      Waycross Commercial Property For Sale

      Recently renovated retail property with established business opportunity in Waycross.
      816 Memorial Dr, Waycross, GA 31501
      View Details
    • $149,900
      3,227 SF

      Waycross Retail Space - High Potential

      Prime Retail Location, Ample Parking, Two Entrances
      901 Albany Ave, Waycross, GA 31501
      View Details
    • $1,500,000

      Prime Waycross Auto Shop

      High-traffic auto shop; excellent investment.
      447 Ossie Davis Pkwy, Waycross, GA 31501
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    Similar Nearby for Lease

    • Contact for pricing
      41,066 SF

      Office and Retail Space Available

      Office, retail, and restaurant spaces for lease near shopping mall.
      1912 Memorial Dr, Waycross, GA 31501
      View Details
    • Contact for pricing
      51,352 SF

      Waycross Mall Retail Space Available

      High-traffic retail space in Waycross, GA.
      2209 Memorial Dr, Waycross, GA 31501
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space in Waycross, GA

      3,200 SF retail space available for rent.
      1803 Knight Ave, Waycross, GA 31501
      View Details
    • $8 SF/Yr
      2,400 SF

      Retail Space in Waycross, GA

      Retail spaces available for lease in Waycross, Georgia.
      701 Riverside Ave, Waycross, GA 31501
      View Details
    • Contact for pricing
      2,487 SF

      Retail Space Near Starbucks

      2,487 SF retail space available next to Starbucks.
      1908 Memorial Dr, Waycross, GA 31501
      View Details
    • Contact for pricing
      12,000 SF

      Waycross Medical Office Building

      Prime Medical Office, High Visibility
      0 Tebeau St, Waycross, GA 31501
      View Details
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    1908 Memorial Dr
    Waycross, GA 31501
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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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