Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    840 Thomas St Milledgeville, GA 31061-2674

    • Medical offices
    • 2,609 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    May 03, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2255828
    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

    • Vickie M. Brown, M.D. / Dermatologist
    • Hyunji Schneibel / Internist
    • Skin Care Physicians of Georgia - Milledgeville / Dermatologist
    • Lynne Garrard Electrolysis / Hair Removal Service

    Property Details for 840 Thomas St

    Year built
    1991
    Construction
    WOOD
    Lot size
    0.25 lot acres
    Property size
    2,609 SF
    Zone code
    RESIDENTIAL
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    M39 108B
    APU
    M39108B

    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
    Milledgeville
    County
    Baldwin
    State
    Georgia
    Longitude
    -83.2408
    Latitude
    33.0827
    CBSA code
    33300
    CBSA name
    MILLEDGEVILLE, GA MICROPOLITAN 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
    $3,403
    $11,800
    $83,700
    $95,500
    -
    $29,500
    $209,251
    $238,751

    Comparable in this City

    • Value Estimation by Request
      3,912 SF

      1011 Fernwood Dr

      MEDICAL BUILDING • 3,912 SF
      1011 Fernwood Dr, Milledgeville, GA 31061-5425
      View Details
    • Value Estimation by Request
      2,794 SF

      1015 Fernwood Dr

      MEDICAL BUILDING • 2,794 SF
      1015 Fernwood Dr, Milledgeville, GA 31061-5416
      View Details
    • Value Estimation by Request
      2,054 SF

      163 Roberson Ml NE Rd

      MEDICAL BUILDING • 2,054 SF
      163 Roberson Ml NE Rd, Milledgeville, GA 31061-4916
      View Details
    • Value Estimation by Request
      4,541 SF

      850 Thomas St

      MEDICAL BUILDING • 4,541 SF
      850 Thomas St, Milledgeville, GA 31061-2674
      View Details
    • Value Estimation by Request
      5,846 SF

      800 Thomas St

      MEDICAL BUILDING • 5,846 SF
      800 Thomas St, Milledgeville, GA 31061-2674
      View Details
    • Value Estimation by Request
      4,140 SF

      240 Wayne St

      MEDICAL BUILDING • 4,140 SF
      240 Wayne St, Milledgeville, GA 31061-3438
      View Details

    Similar Nearby for Sale

    • $1,800,000

      Upgraded Medical Office Building For Sale

      Turn-key medical facility near the hospital, fully modernized and move-in ready.
      600 N Cobb St, Milledgeville, GA 31061
      View Details
    • $350,000
      1,932 SF

      Prime Milledgeville Office Space

      1,932 SF Office Building - Vacant
      112 Wright Dr, Milledgeville, GA 31061
      View Details
    • $499,000
      4,560 SF

      Milledgeville Medical Office Building

      Vacant Medical Office, High Traffic Area
      1217 Columbia Dr, Milledgeville, GA 31061
      View Details
    • $599,000
      4,523 SF

      Freestanding Office Building in Milledgeville

      Prime Medical/General Office Space, 4,523 SF
      112 C Wright Dr, Milledgeville, GA 31061
      View Details
    • $1,100,000
      7,524 SF

      Medical Building on Corner Lot

      Two-tenant medical building in high-traffic area, Milledgeville, GA.
      1201 Columbia Dr, Milledgeville, GA 31061
      View Details
    • $575,000
      2.23 Acres

      Milledgeville Commercial Property with Income

      Commercial property with income and development potential in Milledgeville, GA.
      114 Wrights Dr, Milledgeville, GA 31061
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      79,025 SF

      Old Capitol Square: Prime Retail Space

      Milledgeville, GA: Medical & Retail Opportunity
      2485 Columbia St, Milledgeville, GA 31061
      View Details
    • $12 SF/Yr
      13,093 SF

      Medical Office Space in Milledgeville, GA

      4,700 SF Medical Office Available
      811 Cobb St, Milledgeville, GA 31061
      View Details
    • Contact for pricing
      98,640 SF

      Renaissance Park Industrial Space

      Versatile warehouse/office space available. Ideal for multiple tenants.
      311 Lawrence Rd, Milledgeville, GA 31061
      View Details
    • Contact for pricing
      2,000 SF

      Milledgeville Office Space Available

      Office spaces with conference rooms and training facilities for lease.
      1827 N Columbia St, Milledgeville, GA 31061
      View Details
    • $12 SF/Yr
      4,200 SF

      Prime Milledgeville Creative Office Space

      3,200 SF Available in Baldwin Plaza
      1841 Columbia St, Milledgeville, GA 31061
      View Details
    • $12,000 /Mo
      14,540 SF

      Prime Milledgeville Office Space

      Executive suites, 99-4,000 sq ft available
      2930 Heritage Pl, Milledgeville, GA 31061
      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.
    840 Thomas St
    Milledgeville, GA 31061-2674
    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.