Individually Owned Property summary
AI-generated overview
This 6,366 square foot former Red Lobster restaurant in Albany, GA, is offered for sale at $1,145,000. Located on 1.64 acres of land at 2403 N Slappey Blvd (APN: 0000N/00003/020), this fee simple property boasts a prime location with high visibility on a road with 21,200 vehicles passing daily. Built in 1971 and renovated in 1992, the single-story building sits on a C3 zoned lot and offers ample parking. Its proximity to Highway 82 ensures easy access. The property presents a significant value-add opportunity for investors seeking to capitalize on its location within a vibrant city. Albany, GA, has a population of approximately 66,000, a median age of 34.7 years, and an average household income of approximately $72,000. The city's economy is diverse, with major employers including Phoebe Putney Health System, Procter & Gamble, and Molson Coors Brewery. This location offers excellent potential for a variety of restaurant or retail concepts. The property's size and location make it an attractive investment for those seeking a high-traffic, easily accessible site in a growing community.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1971
Construction
STEEL FRAME
Total area
6,366 SF
Lot
1.64 ac (71,438 SF)
Zoning code
C3
APN
0000N/00003/020
UPID
US22-3332167
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$811k
Blend (final)
Blend
$320k
Owner & transaction history
since 2025
3 recorded transactions
Zoning & alternative use
C3 · Albany, GA
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$320k
Value range
$288k – $352k
±10% around blend
Estimated value / SF
$50 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$288k
blend $320k
$352k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
6,366 SF
Lot area
1.64 ac
Year built
1971
Stories
1
APN
0000N/00003/020
Zoning
C3
Assessed value
$353,640
Annual tax
$16,476
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$811k
Range $412k – $890k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$320k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 24 sales
$206
-76%
County 24 sales
$206
-76%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $50/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$354k
Move the market yield to see immediate price impact.
Value / SF
$56
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$22k
$446k
$318k
$248k
$25k
$495k
$354k
$275k
$27k
$545k
$389k
$303k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$16,476
Tax year 2023
Assessed value
$353,640
Assessed 2023
Previous assessed
$353,640
+0.0% YoY
Effective rate
4.66%
On assessed value
Assessed land
$141,000
Assessed improvement
$212,640
Land market value
$352,500
Improvement market value
$531,600
Total market value
$884,100
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1971
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Rooms
6
Total area
6,366 SF
Lot
1.64 ac (71,438 SF)
Zoning code
C3
APN
0000N/00003/020
UPID
US22-3332167
Jurisdiction
DOUGHERTY
Zoning & alternative use
C3 · Albany, GAZoning C3 · permitted uses
C3 · Albany, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1971
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Rooms
6
Lot
1.64 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C3
Jurisdiction
Albany, GA
Recorded code
C3
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C3 in Albany, GA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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