450 Highway 64Lakeland, GA 31635

Property Details for 450 Highway 64

Year built

1970

Construction

WOOD

Lot size

6.04 AC

Property size (Sq ft)

1,360 SF

Property type

Office properties

Property subtype

Other office properties

APN

010 0019B

APU

0100019B

Description

This exceptional Lakeland, GA property offers a unique investment opportunity. Spanning over six acres of fenced land, the property boasts a substantial 15,110 square foot building complex, ideal for a variety of businesses. The main office building, totaling 6,000 square feet, features two reception areas, twelve individual offices, two conference rooms, two restrooms, and a convenient kitchen/breakroom. This space is perfect for administrative functions and management. In addition to the main office, there are two warehouse spaces. A 5,750 square foot distribution warehouse includes shelving throughout, providing ample storage for inventory and materials. This warehouse also features a manager's office and a 16x50 rear canopy. A second workshop warehouse, measuring 80x42 feet, includes two 16-foot roll-up doors and a 13x21 foot fenced-off area within the building. Note that a large open canopy warehouse, previously located on the property, was damaged in a storm and will be removed. The property's extensive size and versatile layout, combined with its previous use as a regional supply company, make it an attractive option for businesses seeking a central location and significant space for operations in the Southeast. The property is priced at $6,995.

• CAP approach

  CAP return

  Valuation

  6%

  $191,514

  6.5%

  $176,783

  7%

  $164,155

• Comparable approach

  Method

  Valuation

  Relative Method

  $96,682

  Geo Method

  $96,682

• Alternative Use

  Use

  Valuation

  Residential

  $219,210

  Hospitality

  $200,796

  Educational

  $167,060

  Medical

  $172,805

  Retail

  $259,870

Location Insight

City

Lakeland

County

Lanier

State

Georgia

Latitude

31.1287

Longitude

-83.1152

CBSA code

46660

CBSA name

VALDOSTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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