116 Patterson StValdosta, GA 31601

Property Details for 116 Patterson St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.04 AC

Property size (Sq ft)

3,408 SF

Zone code

C-D

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

0120A-138

APU

0120A138

Description

This exceptional 3,408-square-foot commercial property, located at 116 N Patterson Street in Valdosta, Georgia (31601), presents a unique opportunity for businesses seeking a prominent downtown location. The building, classified as Class B and renovated in 2008, features two suites across two stories. Currently, the entire 3,408 square feet is vacant and available for lease, offering flexibility for a single tenant or potential division into smaller spaces (minimum 1,800 sq ft). The space boasts a versatile layout suitable for various uses, including executive, traditional, creative offices, or even coworking spaces. The property benefits from high visibility on busy Patterson Street, yet offers convenient access to the ample public parking in the Toombs Street lot at the rear. The building includes mid-level storage and a private bathroom. The property features 80 total parking spaces and is served by Georgia Power. Zoned for Downtown Commercial use (APN: 0120A-138), this property offers a compelling combination of location, size, and adaptability. Annual property taxes are $0.83 per square foot. There are no elevators. This is an ideal space for businesses seeking a high-traffic location in the heart of Downtown Valdosta.

• CAP approach

  CAP return

  Valuation

  6%

  $666,186

  6.5%

  $614,941

  7%

  $571,017

• Comparable approach

  Method

  Valuation

  Relative Method

  $375,526

  Geo Method

  $375,526

• Alternative Use

  Use

  Valuation

  Residential

  $614,941

  Hospitality

  $563,283

  Educational

  $468,645

  Medical

  $484,762

  Retail

  $729,003

Location Insight

City

Valdosta

County

Lowndes

State

Georgia

Latitude

30.8312

Longitude

-83.2794

CBSA code

46660

CBSA name

VALDOSTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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