122 Forsyth StAmericus, GA 31709

Property Details for 122 Forsyth St

Year built

1920

Construction

WOOD FRAME

Lot size

0.08 AC

Property size (Sq ft)

9,243 SF

Zone code

2

Property type

Investment properties

Property subtype

Live-work space

APN

1 4 3

APU

143

Description

This stunning, fully renovated mixed-use building in Americus, Georgia's historic downtown district offers a unique investment opportunity. The 9,243 square foot property, originally constructed in 1892 and completely renovated in 2018, boasts six units: two ground-floor commercial spaces and four spacious loft apartments featuring 12-foot ceilings. Currently operating at 100% occupancy with long-term tenants, the property generates a substantial net operating income (NOI) of $40,500 annually, based on 2023 figures. Annual expenses, including insurance, taxes, water, maintenance, and management, totaled $19,500 in 2023. Tenants are responsible for their own utilities, with the landlord providing water. The building's prime location in the heart of downtown, near the Windsor Hotel and various amenities, ensures strong rental demand. The asking price is $485,000, representing a compelling cap rate of 8.35%. This property presents a rare chance to acquire a beautifully restored historic building with significant upside potential, situated in a thriving small town with strong economic indicators, including a growing university and proximity to national parks. The property is located in an Opportunity Zone, offering potential tax advantages. Undermarket rents and long-term tenants provide stability and potential for future rent increases.

• CAP approach

  CAP return

  Valuation

  6%

  $933,593

  6.5%

  $861,778

  7%

  $800,222

• Comparable approach

  Method

  Valuation

  Relative Method

  $657,085

  Geo Method

  $657,085

• Alternative Use

  Use

  Valuation

  Residential

  $1,068,605

  Hospitality

  $978,836

  Educational

  $814,380

  Medical

  $842,388

  Retail

  $1,266,814

Location Insight

City

Americus

County

Sumter

State

Georgia

Latitude

32.073

Longitude

-84.2334

CBSA code

11140

CBSA name

AMERICUS, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].