For Sale
$1,700,000

360 Bay StAugusta, GA 30901

Prime Augusta location, multifamily potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a vacant, four-story office building totaling 46,938 square feet (39,835 net rentable) situated in the heart of downtown Augusta, Georgia. The property, built in 1970, is classified as Class B and features a desirable NN+ lease type. Currently vacant, it offers significant potential for redevelopment, particularly as a multifamily residential complex, hotel, mixed-use development, or medical facility. The 1.22-acre lot boasts 121 on-site parking spaces, a significant advantage in a downtown setting. The building benefits from a new roof and an existing sprinkler system. Its central location provides easy access to major roadways including Gordon Highway, Aiken/Augusta Highway, I-20, and the Bobby Jones Expressway, placing it just nine minutes from the medical district and Augusta University. The property overlooks the Savannah River, offering stunning views and proximity to the Masters Tournament, presenting additional rental opportunities. Located in an Opportunity Zone, this property presents a unique chance to acquire a substantial asset well below replacement cost. The B-1 zoning permits a variety of uses, and the property's proximity to Fort Eisenhower and cyber-related activities further enhances its investment appeal. Considerable potential incentives may include affordable housing considerations, Opportunity Zone benefits, tax abatement, historic tax credits, and green design incentives. The asking price is $1,700,000 ($41.67 per square foot). The property's address is 360 Bay St, Augusta, GA 30901. APN: 047-2-009-00-0.

Highlights

  • $1,700,000 asking price for a vacant, 46,938 SF, four-story Class B office building in downtown Augusta, GA.
  • Excellent redevelopment opportunity overlooking the Savannah River, suitable for multifamily, hotel, mixed-use, or medical uses.
  • Prime downtown Augusta location, nine minutes from the medical district and Augusta University.
  • Strong market fundamentals support growth.
  • Proximity to the Masters Tournament offers potential rental income.
  • Located in an Opportunity Zone; purchase price is below replacement cost.

Property Details for 360 Bay St

Property type
Office properties
Square Feet
46,938 SF
Class
B
Year Built
1970
Buildings
1
Stories
4
Lot Size (sq. ft)
53,143 SF

Location Insight

City
Augusta
County
Richmond
State
Georgia
Latitude
33.473661165467
Longitude
-81.954970094261
360 Bay St, Augusta, Georgia

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360 Bay St
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