2403 Slappey BlvdAlbany, GA 31701

Property Details for 2403 Slappey Blvd

Year built

1971

Construction

STEEL FRAME

Lot size

1.64 AC

Property size (Sq ft)

6,366 SF

Zone code

C3

Property type

Retail properties

Property subtype

Turn key restaurants

APN

0000N/00003/020

APU

0000N00003020

Description

This 6,366 square foot former Red Lobster restaurant in Albany, GA, is offered for sale at $1,145,000. Located on 1.64 acres of land at 2403 N Slappey Blvd (APN: 0000N/00003/020), this fee simple property boasts a prime location with high visibility on a road with 21,200 vehicles passing daily. Built in 1971 and renovated in 1992, the single-story building sits on a C3 zoned lot and offers ample parking. Its proximity to Highway 82 ensures easy access. The property presents a significant value-add opportunity for investors seeking to capitalize on its location within a vibrant city. Albany, GA, has a population of approximately 66,000, a median age of 34.7 years, and an average household income of approximately $72,000. The city's economy is diverse, with major employers including Phoebe Putney Health System, Procter & Gamble, and Molson Coors Brewery. This location offers excellent potential for a variety of restaurant or retail concepts. The property's size and location make it an attractive investment for those seeking a high-traffic, easily accessible site in a growing community.

• CAP approach

  CAP return

  Valuation

  6%

  $945,210

  6.5%

  $872,502

  7%

  $810,180

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,140,448

  Geo Method

  $1,140,448

• Alternative Use

  Use

  Valuation

  Residential

  $735,988

  Hospitality

  $674,161

  Educational

  $560,894

  Medical

  $580,184

  Retail

  $872,502

Location Insight

City

Albany

County

Dougherty

State

Georgia

Latitude

31.6097

Longitude

-84.1764

CBSA code

10500

CBSA name

ALBANY, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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