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Property profile & analytics
FOR LEASE
Drug stores
300 N Slappey Blvd Albany, GA 31701
Entity Owned
3-yr Hold
Free & Clear
Property ID
US22-2994053
For Lease
1 / 3
Contact for pricing
300 N Slappey Blvd, Albany, GA 31701
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Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2007
Construction
STEEL FRAME
Total area
14,708 SF
Lot
2.3 ac (100,188 SF)
Zoning code
C2
APN
0000D/00034/002
UPID
US22-2994053
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Rite Aid Pharmacy Pharmacy
-
Andrea P. Main, RPh Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$470k
Owner & transaction history
Realty Income Properties 25 LLC · 3 yrs held
Realty Income Properties 25 LLC
since 2022
4 recorded transactions
Zoning & alternative use
C2 · Albany, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
TITLE II
Top alternative use upside
Medical building
$1.4M
+130.9%
Commercial (general)
$1.3M
+127.0%
Auto repair, garage
$1.2M
+95.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Albany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albany submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,355,000
Change: +131% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,330,000
Change: +127% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,150,000
Change: +96% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,145,000
Change: +95% · Conversion: Moderate
OFFICE BUILDING
$880,000
Change: +50% · Conversion: Easy
Blend value · Realmo final
$470k
Range $423k – $517k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$32 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$36,018
Tax year 2023
Assessed value
$773,082
Assessed 2023
Previous assessed
$773,082
+0.0% YoY
Effective rate
4.66%
On assessed value
Assessed land
$227,680
Assessed improvement
$545,402
Land market value
$569,200
Improvement market value
$1,363,504
Total market value
$1,932,704
Applied tax rate
1.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
For Lease
Year built
2007
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Rooms
7
Total area
14,708 SF
Lot
2.3 ac (100,188 SF)
Zoning code
C2
APN
0000D/00034/002
UPID
US22-2994053
Jurisdiction
DOUGHERTY
Zoning & alternative use
C2 · Albany, GAZoning C2 · permitted uses
C2 · Albany, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
TITLE II
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
OFFICE BUILDING
Est. value
$880,000
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Rooms
7
Lot
2.3 ac
Current owner
From public records · entity-resolved
Realty Income Properties 25 LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 21, 2022
$6,831,239
Realty Income Properties 25 LLC
300 South Slappey LLC
Warranty Deed
—
Mar 26, 2020
$800,000
300 South Slappey LLC
Pharmacy Griffin LP
Warranty Deed
—
Jun 11, 2008
$4,600,000
Cole Wgalbany LLC
Fog Alban Y LLC
Deed
—
May 23, 2007
$1,312,500
Fog Alban Y LLC
Bank Of America NA Trustee
Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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