Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    701 Patterson St Valdosta, GA 31601-4526

    • Office properties & Spaces
    • 2,810 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    Aug 27, 2024
    $72,255
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2558734
    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

    • Dover Miller Stone / Law Firm
    • Dover J Michael / Law Firm
    • Dover Miller Karras Langdale & Brantley, P.C. / Law Firm
    • Jackson R. Langdale / Law Firm
    • Patricia M. Karras / Law Firm

    Property Details for 701 Patterson St

    Year built
    1971
    Construction
    WOOD FRAME
    Lot size
    0.43 lot acres
    Property size
    2,810 SF
    Zone code
    C-C
    Property type
    Office properties & Spaces
    APN
    0118A-115
    APU
    0118A115

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Valdosta
    County
    Lowndes
    State
    Georgia
    Longitude
    -83.2822
    Latitude
    30.8379
    CBSA code
    46660
    CBSA name
    VALDOSTA, 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
    $4,099
    $77,669
    $59,910
    $137,579
    -
    $194,173
    $149,775
    $343,948

    Comparable in this City

    • Value Estimation by Request
      6.93 Acres

      2577 Rocky Frd Rd

      OFFICE (GENERAL) • 6.93 Acres
      2577 Rocky Frd Rd, Valdosta, GA 31601-1575
      View Details
    • Value Estimation by Request
      3.10 Acres

      7071 Ousley Rd

      OFFICE (GENERAL) • 3.10 Acres
      7071 Ousley Rd, Valdosta, GA 31601-7813
      View Details
    • Value Estimation by Request
      1,020 SF

      Patterson St

      OFFICE (GENERAL) • 1,020 SF
      Patterson St, Valdosta, GA 31601
      View Details
    • Value Estimation by Request
      1,892 SF

      1008 Slater St

      OFFICE (GENERAL) • 1,892 SF
      1008 Slater St, Valdosta, GA 31601-3937
      View Details
    • Value Estimation by Request
      1,682 SF

      703 Toombs St

      OFFICE (GENERAL) • 1,682 SF
      703 Toombs St, Valdosta, GA 31601-4532
      View Details
    • Value Estimation by Request
      768 SF

      301 Webster St

      OFFICE (GENERAL) • 768 SF
      301 Webster St, Valdosta, GA 31601-4740
      View Details

    Similar Nearby for Sale

    • $2,895,000
      24,300 SF

      Historic Mixed-Use Landmark in Valdosta

      Iconic 24,300 SF historic building in downtown Valdosta.
      105-111 Central Ave, Valdosta, GA 31601
      View Details
    • $359,900
      3,183 SF

      Valdosta Commercial Office For Sale

      High-visibility commercial property in historic Valdosta office district.
      706 Patterson St, Valdosta, GA 31601
      View Details
    • $799,900
      4,388 SF

      Turn-Key Commercial Property in Remerton

      High-visibility commercial property in Remerton's retail district near Valdosta.
      1305 Baytree Rd, Valdosta, GA 31601
      View Details
    • $369,900
      7,560 SF

      Historic Downtown Valdosta Commercial Building

      Two-story commercial building in thriving downtown district, built in 1890.
      201 Ashley St, Valdosta, GA 31601
      View Details
    • $449,900
      3,600 SF

      Charming Brick Office Building

      Prime location near courthouse, ideal for professional services.
      502 Ashley St, Valdosta, GA 31601
      View Details
    • $949,000
      9,258 SF

      Valdosta Commercial Office For Sale

      Two-story office building with multi-use secondary building and ample parking.
      3185 Madison Hwy, Valdosta, GA 31601
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Valdosta Commercial Property with Acreage

      Commercial property with a building and large lot for lease.
      1820 Patterson St, Valdosta, GA 31601
      View Details
    • Contact for pricing
      4,907 SF

      Versatile Commercial Space in Remerton

      Former restaurant suitable for restaurant, retail, or office uses.
      1903 Baytree Pl, Valdosta, GA 31601
      View Details
    • New
      Contact for pricing
      3,120 SF

      Versatile Commercial Building in Valdosta

      3120-sf building suitable for office, retail, or daycare.
      1709 River St, Valdosta, GA 31601
      View Details
    • Contact for pricing
      1,000 SF

      Downtown Valdosta Commercial Space

      Versatile 1,000 SF space in the heart of Valdosta.
      304 Oak Street Ext, Valdosta, GA 31601
      View Details
    • Contact for pricing

      New Construction Commercial/Industrial Spec Buildings

      New construction commercial/industrial buildings for lease with build-out options.
      1805 Madison Hwy, Valdosta, GA 31601
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space on Ashley Street

      2400-SF retail or office space for lease.
      1306 Ashley St, Valdosta, GA 31601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    701 Patterson St
    Valdosta, GA 31601-4526
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!