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    Property profile & analytics

    2820 Meredyth Dr Albany, GA 31707

    • Community centers
    • 10,428 SF
    • 0.94 lot acres
    For Sale
    View listing
    $1,200,000
    Last Sale
    Aug 17, 2022
    $800,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-3609516
    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

    • Brother's NY Style Pizza Albany / Restaurant
    • Woods Gallery / (Bike/Boat/Book/etc) Store / Home Decor Store
    • Charley B's Sport Bar & Grill / Bar & Pub

    Property Details for 2820 Meredyth Dr

    Year built
    1999
    Construction
    CONCRETE
    Lot size
    0.94 lot acres
    Property size
    10,428 SF
    Zone code
    C2
    Property type
    Community centers
    APN
    040-2/00000/121
    APU
    40200000121

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $565,000
      ML approach
      $505,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $712,000
      Market price range: $393k - $1.10M
      AI Estimate
      $733,000
      Market price range: $319k - $1.37M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $815,000
      Current use
      MEDICAL BUILDING
      $960,000
      Change: +18% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $945,000
      Change: +16% Conversion: Easy
      RETAIL STORES
      $835,000
      Change: +3% Conversion: Easy
      AUTO REPAIR, GARAGE
      $815,000
      Change: +0% Conversion: Difficult
      OFFICE BUILDING
      $775,000
      Change: -5% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Dougherty
    State
    Georgia
    Longitude
    -84.2215
    Latitude
    31.6104
    CBSA code
    10500
    CBSA name
    ALBANY, 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
    $14,909
    $56,400
    $297,800
    $354,200
    -
    $141,000
    $744,500
    $885,500

    Comparable in this City

    • Value Estimation
      $780,000
      6,720 SF

      2700 Dawson Rd

      MINI-MALL • 6,720 SF
      2700 Dawson Rd, Albany, GA 31707-1697
      View Details
    • Value Estimation
      $770,000
      10,976 SF

      2601 Stuart Ave

      MINI-MALL • 10,976 SF
      2601 Stuart Ave, Albany, GA 31707-1664
      View Details
    • Value Estimation by Request
      2,600 SF

      2345 Dawson Rd

      MINI-MALL • 2,600 SF
      2345 Dawson Rd, Albany, GA 31707-1140
      View Details
    • Value Estimation
      $1,120,000
      10,515 SF

      2630 Dawson Rd

      MINI-MALL • 10,515 SF
      2630 Dawson Rd, Albany, GA 31707-1609
      View Details
    • Value Estimation
      $1,560,000
      18,380 SF

      2526 Dawson Rd

      MINI-MALL • 18,380 SF
      2526 Dawson Rd, Albany, GA 31707-1358
      View Details
    • Value Estimation
      $560,000
      11,658 SF

      2416 Dawson Rd

      MINI-MALL • 11,658 SF
      2416 Dawson Rd, Albany, GA 31707-2344
      View Details

    Similar Nearby for Sale

    • $1,200,000
      0.94 Acres

      Commercial Strip Mall in Albany

      Northwest Albany strip mall with anchor tenant and high visibility.
      2820 Meredyth Dr, Albany, GA 31707
      View Details
    • $699,900
      2,000 SF

      Prime Commercial Location in Albany, GA

      Thriving auto dealership on a one-acre corner lot.
      1307 Slappey Blvd N, Albany, GA 31707
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    • $52,500
      1.69 Acres

      Spacious Residential Lots Near University

      Over 1.5 acre residential lots near Albany State University.
      1813 Gillionville Rd, Albany, GA 31707
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    • $5,500,000
      1,911 SF

      Albany, GA Multifamily Portfolio

      60-Unit Turnkey Rental Business, High Occupancy
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    • $572,500
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      Commercial Lot Near Albany Mall

      Commercial lot near Albany Mall, Burlington, and Outback Steakhouse.
      2601 Dawson Rd, Albany, GA 31707
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,598 SF

      Anchored Shopping Center Retail Space

      Retail space in a shopping center with major anchor tenants.
      2707 Dawson Rd, Albany, GA 31707
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Albany, GA

      Publix-anchored shopping center in a dense retail corridor.
      2713 Dawson Rd, Albany, GA 31707
      View Details
    • Contact for pricing
      30,000 SF

      Retail Space in Albany, Georgia

      30,000 square foot retail property available for rent.
      2800 Old Dawson Rd, Albany, GA 31707
      View Details
    • $3,500 /Mo
      40,946 SF

      Northwest Albany Commercial Space For Lease

      3000 sq ft commercial space available for lease.
      2820 Meredyth Dr, Albany, GA 31707
      View Details
    • $15 SF/Yr
      5,331 SF

      618 Westover Blvd

      Office Properties & Spaces • 5,331 SF
      618 Westover Blvd, Albany, GA 31707
      View Details
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    Albany, GA 31707
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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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