526 Oglethorpe BlvdAlbany, GA 31701

Property Details for 526 Oglethorpe Blvd

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.25 AC

Property size (Sq ft)

2,009 SF

Zone code

C3

Property type

Office buildings

APN

0000B/00003/023

APU

0000B00003023

Description

This exceptional mixed-use commercial property, located at 526 W Oglethorpe Blvd in Albany, Georgia (31701), presents a unique investment opportunity. Boasting 2,000 square feet of space on a 0.25-acre lot, this storefront property is situated in a high-visibility area with over 13,500 vehicles passing daily. The property features two buildings: a main structure with a spacious interior including a lobby, reception area, two offices, and two additional rooms suitable for offices or storage. The charming architecture includes beautiful reclaimed hardwood floors. A significant upgrade was completed in September 2023 with the installation of a new roof. Additional storage is provided by a 20' x 10' utility building located behind the main structure. The property is conveniently located within blocks of downtown Albany and government offices, offering numerous potential uses. The property is fenced on three sides and benefits from alley access in the rear. Zoned C-3, this property is ideal for business owners seeking a well-maintained space or investors looking for rental income potential. The asking price is $165,000 ($82.50/sq ft).

• CAP approach

  CAP return

  Valuation

  6%

  $202,920

  6.5%

  $187,311

  7%

  $173,931

• Comparable approach

  Method

  Valuation

  Relative Method

  $142,820

  Geo Method

  $142,820

• Alternative Use

  Use

  Valuation

  Residential

  $232,265

  Hospitality

  $212,754

  Educational

  $177,009

  Medical

  $183,096

  Retail

  $275,347

Location Insight

City

Albany

County

Dougherty

State

Georgia

Latitude

31.5749

Longitude

-84.1613

CBSA code

10500

CBSA name

ALBANY, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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