410 Broad AveAlbany, GA 31701

Property Details for 410 Broad Ave

Year built

1977

Construction

CONCRETE

Lot size

3.14 AC

Property size (Sq ft)

45,360 SF

Zone code

C2

Property type

Office buildings

APN

0000B/00001/014

APU

0000B00001014

Description

This exceptional investment opportunity presents a 47,759 square foot Class B office building situated on a sizable 4.13-acre lot in Albany, Georgia. Known as The Truist Building, this multi-tenant property boasts 46,565 square feet of net rentable space, currently at 40% occupancy. The building, constructed in 1977, comprises four stories and features a total of fifteen units. The property includes a separate detached drive-thru facility and offers ample parking with 165 spaces, presenting potential for expansion. Strategically located on West Broad Avenue, North Monroe Street, and North Jefferson Street, the building benefits from high visibility and convenient access. The asking price is $2,250,000, translating to $47.11 per square foot. The property is currently leased to a credit-rated tenant, SunTrust Bank, and is situated within designated Federal and State Opportunity Zones, enhancing its investment appeal. This presents a substantial value-add opportunity for a discerning investor seeking a well-located, multi-tenant office building in a growing market. The property consists of one building across four parcels.

• CAP approach

  CAP return

  Valuation

  6%

  $5,192,480

  6.5%

  $4,793,060

  7%

  $4,450,700

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,224,640

  Geo Method

  $3,224,640

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $11,458,000

  Retail / Commercial

  $5,479,860

  Mixed-Use / Specialty

  $5,148,470

  Hospitality / Lodging

  $3,371,240

  Institutional / Educational

  $5,240,870

  Residential Income

  $6,131,820

  Multifamily

  $9,083,040

  Automotive / Energy

  $4,492,180

  Parking / Income-Based Land

  $1,858,300

  Restaurant / Food Service

  $2,012,200

  Healthcare / Senior Housing

  $5,599,460

Location Insight

City

Albany

County

Dougherty

State

Georgia

Latitude

31.5764

Longitude

-84.1573

CBSA code

10500

CBSA name

ALBANY, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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