1001 Slappey BlvdAlbany, GA 31701

Property Details for 1001 Slappey Blvd

Year built

1963

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.33 AC

Property size (Sq ft)

19,500 SF

Zone code

C1

Property type

Outlet malls

APN

0000G/00037/003

APU

0000G00037003

Description

This exceptional 10.097-acre commercial property in Albany, Georgia, presents a significant investment opportunity. Strategically located on Slappey Boulevard, it enjoys convenient proximity to the airport, major industrial areas, and key trucking routes. The property boasts a substantial 58,401 square feet of building space, including a main structure of 43,795 square feet. This main building comprises a spacious 28,000 square foot garage/warehouse area, complemented by 15,795 square feet of climate-controlled space, ideal for offices, showrooms, or a parts room. Three additional detached buildings enhance the property's versatility: a former body shop (12,040 sq ft), a storage building (1,890 sq ft), and a sales office (676 sq ft). The site features 7 fenced acres, 5 acres of asphalt paving, and 2.9 acres of open land, providing ample space for various uses. Two commercial entrances and pole lighting throughout the lot ensure excellent visibility and accessibility. A gated alley provides secure access to the rear of the property. Currently, a portion of the property generates income through existing leases: a car lot occupying the sales office pays $3,000 per month, while a secondary mechanic shop (Wallace Shop) in the rear pays $1,200 monthly. This property offers substantial potential for a variety of commercial ventures.

• CAP approach

  CAP return

  Valuation

  6%

  $2,552,070

  6.5%

  $2,355,760

  7%

  $2,187,490

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,441,710

  Geo Method

  $1,441,710

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,925,730

  Mixed-Use / Specialty

  $2,213,300

  Hospitality / Lodging

  $1,449,280

  Office

  $2,060,510

  Institutional / Educational

  $2,253,020

  Residential Income

  $2,636,030

  Multifamily

  $3,904,750

  Automotive / Energy

  $1,931,160

  Parking / Income-Based Land

  $798,874

  Restaurant / Food Service

  $865,033

  Healthcare / Senior Housing

  $2,407,170

Location Insight

City

Albany

County

Dougherty

State

Georgia

Latitude

31.5906

Longitude

-84.1769

CBSA code

10500

CBSA name

ALBANY, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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