580 Broad St Athens, GA 30601-2857
Property Lookup
Property profile & analytics
580 Broad St Athens, GA 30601-2857
- Commercial real estate
- 38,927 SF
- 0.68 lot acres
Property ID
US22-1391303
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.
Location Intelligence
Current Use by Public Records
- Farmer’s Exchange / Apartment Building
Property Details for 580 Broad St
- Year built
- 1890
- Lot size
- 0.68 lot acres
- Property size
- 38,927 SF
- Zone code
- C-D
- Property type
- Commercial real estate
- APN
- 17-1-B7 A-001
- APU
- 171B7A001
Description
This exceptional value-add opportunity presents a 36-unit, 119-bed student housing property ideally situated in Athens, Georgia, directly adjacent to the University of Georgia and downtown. The property, encompassing approximately 38,927 square feet on a 0.68-acre lot, boasts 29,930 square feet of net rentable space and currently enjoys 100% occupancy. Originally constructed in 1890 and converted to loft apartments in 1977, the property has undergone significant renovations between 2018 and 2024, including interior and exterior painting, common area upgrades (laundry room, study areas, game room, parcel lockers), HVAC replacements (2023 & 2024), roof resealing (2020), and energy efficiency improvements (2021). The property is zoned C-D. An assumable, non-recourse debt is available at a 4.14% interest rate, with an interest-only payment until December 1, 2026, and a maturity date of December 1, 2031. The current loan balance is $7,467,000, representing a 67% loan-to-value ratio. The property generates substantial annual rental income, currently at approximately $1,065,300 ($746 per bed), projected to increase to $1,098,000 ($768 per bed) in the coming year. This represents a significant increase from previous years and is below market rates for comparable properties, indicating substantial upside potential through further rent increases and value-add opportunities such as furnishing units and offering individual student leases. The University of Georgia's record-breaking enrollment, including a record-high freshman class, further strengthens the property's long-term prospects. This is a compelling investment opportunity in a high-demand market.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $7,710,000
- 6.5%
- $7,115,000
- 7%
- $6,605,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $4,513,000
Market price range: $1.82M - $8.49M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $9,345,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Athens
- County
- Clarke
- State
- Georgia
- Longitude
- -83.3717
- Latitude
- 33.9582
- CBSA code
- 12020
- CBSA name
- ATHENS-CLARKE COUNTY, 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
$104
$744,660
$1,783,795
$2,528,455
-
$1,861,650
$4,459,487
$6,321,137
