945 Pine AveAlbany, GA 31701

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 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.

• 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

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

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