945 Pine AveAlbany, GA 31701

  • Retail properties
  • 9,742 SF
For Sale
$650,000 View listing

Property Details for 945 Pine Ave

Year built
1930
Construction
WOOD
Lot size
1.27 AC
Property size (Sq ft)
9,742 SF
Zone code
C3
Property type
Retail properties
Property subtype
Retail space
APN
0000D/00030/003
APU
0000D00030003

Description

This exceptional 23,000-square-foot distribution warehouse, located at 945 Pine Ave in Albany, Georgia (31701), presents a unique investment opportunity. Priced at $650,000 ($28.26/sq ft), this property boasts a rich history, originally constructed in 1930 as a peach processing facility. Subsequently, it served as a building and supply retail store. Undergoing extensive renovations in 2018, the property now offers modern functionality within a historically significant structure. The warehouse sits on a 2.4-acre lot and is currently vacant, providing immediate occupancy for a new tenant. The property features five buildings and is zoned C-2 General Business, offering flexibility for various commercial uses. With a net rentable area of 23,000 square feet, this property is ideal for businesses seeking a substantial and well-maintained space in a thriving Midtown Albany location. The property's APN is 000/0030/003. This is a rare opportunity to acquire a versatile and strategically located industrial property in Dougherty County, Georgia. The property's size, location, and recent renovations make it an attractive investment for both owner-occupiers and investors seeking strong rental potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,446,472
    6.5%
    $1,335,205
    7%
    $1,239,833
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,745,248
    Geo Method
    $1,745,248
  • Alternative Use

    Use
    Valuation
    Residential
    $1,126,295
    Hospitality
    $1,031,680
    Educational
    $858,346
    Medical
    $887,866
    Retail
    $1,335,205
945 Pine Ave, Albany, Georgia

Location Insight

City
Albany
County
Dougherty
State
Georgia
Latitude
31.5806
Longitude
-84.1736
CBSA code
10500
CBSA name
ALBANY, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$11,299
$78,920
$163,600
$242,520
-
$197,300
$409,000
$606,300

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