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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2403 Milledgeville Rd Augusta, GA 30904

    • Commercial land
    • 31,720 SF
    • 1.97 lot acres
    For Lease
    View listing
    $5 SF/Yr
    Last Sale
    Nov 15, 2021
    $200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1376981
    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

    • Ghost Riders Auto Paint and Body - Uhaul Authorized Dealer / Car Repair And Maintenance
    • Greater Faith of Augusta, International / Church
    • Simply Roofing / Roofing Contractor

    Property Details for 2403 Milledgeville Rd

    Year built
    1959
    Lot size
    1.97 lot acres
    Property size
    31,720 SF
    Zone code
    B-2
    Property type
    Commercial land
    APN
    071-4-020-00-0
    APU
    714020000

    Description

    This exceptional industrial property, located on Milledgeville Road in South Augusta, Georgia, offers a versatile flex space solution. The single-story building, totaling 32,741 square feet, comprises five individual suites, with one currently available at 5,739 square feet. Minimum divisible space starts at 5,040 square feet, providing flexibility for various business needs. Built in 1959 and extensively renovated in 2022, the property boasts a Class B rating and features 12-foot ceiling heights, enhancing storage and operational efficiency. Access is provided by one loading dock, one dock-high door, and five drive-in doors, ensuring convenient loading and unloading. The 1.97-acre site is secured and includes valuable rear vehicle storage space. The property's zoning is LI (Light Industrial), and its convenient location offers easy access to major thoroughfares including Deans Bridge Road, Gordon Highway, and Wrightsboro Road. Surrounding businesses are primarily industrial and commercial, creating a synergistic environment. This well-maintained property presents a compelling opportunity for businesses seeking functional and strategically located warehouse or flex space in a thriving South Augusta area. The property's features include a single building on one story, and no elevators are present. The Richmond County location is identified by APN 071-4-020-00-0. Each unit offers approximately 70 feet of width.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Augusta
    County
    Richmond
    State
    Georgia
    Longitude
    -82.0121
    Latitude
    33.4475
    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
    $3,596
    $20,080
    $147,700
    $167,780
    -
    $50,200
    $369,250
    $419,450

    Comparable in this City

    • Value Estimation by Request
      0.37 Acres

      1119 Hickman Rd

      VACANT COMMERCIAL LAND • 0.37 Acres
      1119 Hickman Rd, Augusta, GA 30904
      View Details
    • Value Estimation by Request
      0.81 Acres

      1866 Kissingbower Rd

      VACANT COMMERCIAL LAND • 0.81 Acres
      1866 Kissingbower Rd, Augusta, GA 30904-6503
      View Details
    • Value Estimation by Request
      0.44 Acres

      2243 Martin Luther King Jr Blvd

      VACANT COMMERCIAL LAND • 0.44 Acres
      2243 Martin Luther King Jr Blvd, Augusta, GA 30904-4925
      View Details
    • Value Estimation by Request
      0.44 Acres

      2250 Martin Luther King Jr Blvd

      VACANT COMMERCIAL LAND • 0.44 Acres
      2250 Martin Luther King Jr Blvd, Augusta, GA 30904-4926
      View Details
    • Value Estimation by Request
      0.13 Acres

      1820 Wrightsboro Rd

      VACANT COMMERCIAL LAND • 0.13 Acres
      1820 Wrightsboro Rd, Augusta, GA 30904-4086
      View Details
    • Value Estimation by Request
      0.17 Acres

      1700 Slaton St

      VACANT COMMERCIAL LAND • 0.17 Acres
      1700 Slaton St, Augusta, GA 30904-4065
      View Details

    Similar Nearby for Sale

    • $90,000

      2.44 Acre Office/Retail Lot

      2.44 acre lot suitable for office/retail development.
      2809 Regency Blvd, Augusta, GA 30904
      View Details
    • $1,000,000

      Development Ready Land For Sale

      Level commercial land ready for development with high traffic volume.
      1632 Walton Way, Augusta, GA 30904
      View Details
    • Contact for pricing
      0.39 Acres

      Prime Augusta Commercial Land

      0.39-Acre Lot Near Augusta University
      916 Druid Park Ave, Augusta, GA 30904
      View Details
    • Contact for pricing
      0.53 Acres

      Augusta Canal Commercial Land

      Prime Augusta, GA land: Residential/Commercial potential.
      212 Tuttle St, Augusta, GA 30904
      View Details
    • $3,000,000
      60.00 Acres

      2631 Tobacco Road

      Land • 60.00 Acres
      2631 Tobacco Rd, Augusta, GA 30904
      View Details
    • $100,000
      0.52 Acres

      Augusta Multifamily Land Site

      Prime Augusta development land, R-3C zoned.
      1711 Hicks St, Augusta, GA 30904
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo

      Paved Land Tract For Rent

      14.61-acre fenced tract with concrete and asphalt paving.
      1775 Essie Mcintyre Blvd, Augusta, GA 30904
      View Details
    • $5 SF/Yr
      32,741 SF

      Milledgeville Road Industrial Flex Space

      South Augusta Flex Warehouse, 5,040+ SF Available
      2403 Milledgeville Rd, Augusta, GA 30904
      View Details
    • $5 SF/Yr
      5,357 SF

      Walton Way Retail Center

      Augusta, GA Strip Center - 1,906 SF Available
      1712 Walton Way, Augusta, GA 30904
      View Details
    • $10 SF/Yr
      11,760 SF

      Industrial Warehouse Space Available

      11,760 SF warehouse with dock and drive-in doors.
      1827 Killingsworth Rd, Augusta, GA 30904
      View Details
    • Contact for pricing
      1,080 SF

      Retail and Restaurant Space Available

      Retail and restaurant spaces available with ample parking.
      1944 Walton Way, Augusta, GA 30904
      View Details
    • Contact for pricing
      2,000 SF

      Commercial Space with Ample Parking

      Commercial space for rent with ample parking and low utility costs.
      1701 Goodrich St, Augusta, GA 30904
      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.
    2403 Milledgeville Rd
    Augusta, GA 30904
    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.