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    97 Ivey St Richmond Hill, GA 31324

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    97 Ivey St Richmond Hill, GA 31324

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    • Garden apartment buildings
    • 7,800 SF
    • 0.46 lot acres
    For Sale
    $2,500,000
    View Listing →
    Richmond Hill Multi-Family Investment Property For Sale
    $2,500,000
    15,600 SF

    Richmond Hill Multi-Family Investment Property

    16-unit multi-family property in Richmond Hill, GA for sale.

    97 & 115 Ivey Street, Richmond Hill, GA 31324
    View Listing
    Property ID
    US22-3370512
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 97 Ivey St

    Year built
    1977
    Construction
    STEEL FRAME
    Lot size
    0.46 lot acres
    Property size
    7,800 SF
    Zone code
    CITY
    Property type
    Garden apartment buildings
    APN
    0532 148
    APU
    532148

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,025,000
      RESTAURANT
      $970,000
      AUTO REPAIR, GARAGE
      $810,000
      RETAIL STORES
      $780,000
      WAREHOUSE, STORAGE
      $540,000
      NEIGHBORHOOD: SHOPPING CENTER
      $530,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond Hill
    County
    Bryan
    State
    Georgia
    Longitude
    -81.3057
    Latitude
    31.9381
    CBSA code
    42340
    CBSA name
    SAVANNAH, 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
    $4,249
    $48,000
    $100,400
    $148,400
    -
    $120,000
    $251,000
    $371,000

    Comparable in this City

    • Value Estimation by Request
      1,050 SF

      3772 Us Hwy 17

      GARDEN APT, COURT APT (5+ UNITS) • 1,050 SF
      3772 Us Hwy 17, Richmond Hill, GA 31324-3378
      View Details
    • Value Estimation
      $1,175,000
      11,640 SF

      Casey Dr

      GARDEN APT, COURT APT (5+ UNITS) • 11,640 SF
      Casey Dr, Richmond Hill, GA 31324
      View Details
    • Value Estimation
      $1,430,000
      14,634 SF

      Casey Dr

      GARDEN APT, COURT APT (5+ UNITS) • 14,634 SF
      Casey Dr, Richmond Hill, GA 31324
      View Details
    • Value Estimation
      $990,000
      9,904 SF

      Casey Dr

      GARDEN APT, COURT APT (5+ UNITS) • 9,904 SF
      Casey Dr, Richmond Hill, GA 31324
      View Details
    • Value Estimation
      $780,000
      7,800 SF

      97 Ivey St

      GARDEN APT, COURT APT (5+ UNITS) • 7,800 SF
      97 Ivey St, Richmond Hill, GA 31324-3947
      View Details
    • Value Estimation
      $7,740,000
      94,446 SF

      201 Kroger Dr

      GARDEN APT, COURT APT (5+ UNITS) • 94,446 SF
      201 Kroger Dr, Richmond Hill, GA 31324-6578
      View Details

    Similar Nearby for Sale

    • $2,500,000
      15,600 SF

      Richmond Hill Multifamily Investment Opportunity

      16-unit multifamily property in Richmond Hill, GA with 100% occupancy.
      97 Ivey St, Richmond Hill, GA 31324
      View Details
    • $2,500,000
      Pending

      Richmond Hill Multi-Family Investment Property

      16-unit multi-family property in Richmond Hill, GA for sale.
      97 Ivey St, Richmond Hill, GA 31324
      View Details
    • $345,000
      1.73 Acres

      Richmond Hill Multi-Family Acreage

      Spacious property with accessory unit near Richmond Hill.
      236 Frugality Hall Rd, Richmond Hill, GA 31324
      View Details
    • $250,000

      Richmond Hill Estate Lot

      2.78 acre wooded estate lot near Ogeechee River.
      217 Mcallister Lndg, Richmond Hill, GA 31324
      View Details
    • Contact for pricing

      Richmond Hill Land For Sale

      Land available for sale in Richmond Hill, Georgia.
      4035 Us Highway 17, Richmond Hill, GA 31324
      View Details
    • $179,000
      0.52 Acres

      Richmond Hill Corner Lot

      Rare 0.52-acre corner lot in Richmond Hill's premier community.
      21 Ossabaw Ct, Richmond Hill, GA 31324
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Warehouse Space For Lease

      Light industrial warehouse space available for lease in Richmond Hill.
      80 Shelby Ln, Richmond Hill, GA 31324
      View Details
    • $15 SF/Yr

      Richmond Hill Neighborhood Shopping Center

      Anchored shopping center in the heart of Richmond Hill, Georgia.
      9701 Ford Ave, Richmond Hill, GA 31324
      View Details
    • $3,000 /Mo
      23,522 SF

      High-Visibility Commercial Site For Lease

      Cleared, shovel-ready commercial pad site near I-95 Exit 90.
      8805 Ford Ave, Richmond Hill, GA 31324
      View Details
    • Contact for pricing
      1,371 SF

      Retail Space in Richmond Hill

      Retail space available for lease in Richmond Hill, GA.
      53 Exchange St, Richmond Hill, GA 31324
      View Details
    • $2,500 /Mo
      1,200 SF

      Spacious Office Suite in Richmond

      Upstairs commercial office suite in the heart of Richmond Hill.
      10385 Ford Ave, Richmond Hill, GA 31324
      View Details
    • $3,800 /Mo
      2,000 SF

      Richmond Hill Second-Floor Office Suite

      Second-floor office suite perfect for administrative or consulting businesses.
      111 Market St, Richmond Hill, GA 31324
      View Details
    View Listing
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    97 Ivey St
    Richmond Hill, GA 31324
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    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
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