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Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Warehouses
421 Hodges Ave Albany, GA 31701-1613
Entity Owned
3-yr Hold
Free & Clear
Property ID
US22-3509906
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,100 SF
Lot
1.92 ac (83,635 SF)
Zoning code
M1
APN
000LL/00011/001
UPID
US22-3509906
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$910k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$795k
Blend (final)
Blend
$805k
Owner & transaction history
Phoebe Putney Health System INC · 3 yrs held
Phoebe Putney Health System INC
since 2023
Last sale
$750,000
4 recorded transactions
Zoning & alternative use
M1 · Albany, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+156.3%
Neighborhood: shopping center
$1.2M
+155.9%
Office building
$900,000
+96.1%
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
$830,000
ML approach
$910,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,180,000
Change: +156% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,175,000
Change: +156% · Conversion: Moderate
OFFICE BUILDING
$900,000
Change: +96% · Conversion: Difficult
RETAIL STORES
$600,000
Change: +31% · Conversion: Moderate
Blend value · Realmo final
$805k
Range $725k – $886k · ±10% · vs last sale $750k (May 1 2023)
Last sale anchor
$750k
May 1 2023
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
$53 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$9,426
Tax year 2024
Assessed value
$202,320
Assessed 2024
Previous assessed
$129,060
+56.8% YoY
Effective rate
4.66%
On assessed value
Assessed land
$6,520
Assessed improvement
$195,800
Land market value
$16,300
Improvement market value
$489,500
Total market value
$505,800
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Buildings
2
Total area
15,100 SF
Lot
1.92 ac (83,635 SF)
Zoning code
M1
APN
000LL/00011/001
UPID
US22-3509906
Jurisdiction
DOUGHERTY
Zoning & alternative use
M1 · Albany, GA
Zoning M1 · permitted uses
M1 · Albany, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Albany. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
OFFICE BUILDING
Est. value
$900,000
RETAIL STORES
Est. value
$600,000
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
RETAIL STORES
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
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Buildings
2
Lot
1.92 ac
Current owner
From public records · entity-resolved
Phoebe Putney Health System INC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 3770, ALBANY, GA 31706-3770
Ownership since
2023
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
May 1, 2023
$750,000
Phoebe Putney Health System INC
421 Hodges Avenue LLC
Warranty Deed
—
Nov 4, 2021
$154,000
421 Hodges Avenue LLC
Richard Allen Wingate
Warranty Deed
—
Oct 2, 2017
$154,000
Richard Allen Wingate
Linda Louise Griffin
Warranty Deed
—
Jul 17, 2015
—
Linda Louise Griffin
Wallace F Griffin
Warranty Deed
related
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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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