18 Madison WayEllerslie, GA 31807

Property Details for 18 Madison Way

Year built

2013

Construction

STEEL FRAME

Lot size

1.56 AC

Property size (Sq ft)

9,090 SF

Zone code

2

Property type

Outlet malls

APN

081 133

APU

81133

Description

This exceptional 3.87-acre commercial land parcel is situated adjacent to 18 Madison Way in Ellerslie, Georgia, within the Columbus MSA. The property boasts a highly desirable C-4, Highway Commercial District zoning, allowing for diverse development options including self-storage, retail, banking, restaurants, offices, and hotels. Located behind a Dollar General, this site benefits from excellent visibility and access from both Madison Way and Alt-27/Hwy-85, experiencing approximately 6,167 vehicles per day. The strong demographics of the area are a significant advantage, with a population of approximately 10,775 residents and an average annual household income of $116,861 within a 5-mile radius. This area shows promising growth projections, with a 2.4% population increase from 2020-2024 and an anticipated 10.99% growth from 2024-2029. This is a fee simple ownership opportunity. This property is being offered via an absolute $1 auction with no reserve. The auction will take place November 4-6, 2024. This presents a unique chance for developers to capitalize on a prime location in a thriving market. The property's strategic location and zoning flexibility make it an ideal investment for various commercial ventures.

• CAP approach

  CAP return

  Valuation

  6%

  $1,699,604

  6.5%

  $1,568,866

  7%

  $1,456,804

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,468,200

  Geo Method

  $4,468,200

• Alternative Use

  Use

  Valuation

  Residential

  $1,323,397

  Hospitality

  $1,212,224

  Educational

  $1,008,556

  Medical

  $1,043,242

  Retail

  $1,568,866

Location Insight

City

Ellerslie

County

Harris

State

Georgia

Latitude

32.638

Longitude

-84.7896

CBSA code

17980

CBSA name

COLUMBUS, GA-AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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