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±5,978 Square Feet Downtown Investment 602-604 3rd St 8 Unit Apartment Building $850,000 ($106,250/Unit) 10.32% Cap Rate Augusta, GA 30901
INVESTMENT HIGHLIGHTS
- Sale Price: $1,000,000 | Price/SF: $167
- Pro Forma Cap Rate: 8.77% | Pro Forma NOI: $87,711
- 3 Mile Population: 32,079
- Office Spaces: 3 Office Units | Single Family: 1 Single Family Home | Apartments: 4 (1 Bed/1 Bath)
- Condition: Newly Renovated Interior
- 3 Mile Median Household Income: $35,216
EXECUTIVE SUMMARY
The Finem Group at Meybohm Commercial is pleased to present this exceptional mixed-use property in Augusta’s Historic Olde Town district. Located at 602 Third Street, this unique investment opportunity features two buildings totaling ±5,978 square feet, offering a mix of commercial and residential income potential.
This property consists of four apartment units, three office units, and a single-family home, providing diverse revenue streams. With a current vacancy, investors have the opportunity to capitalize on the value-add potential, maximizing returns by leasing the available space or repositioning the asset to meet market demand.
Situated at the corner of Walker Street and Third Street—directly across from the historic Thankful Baptist Church—this 1911-built property blends historic charm with modern functionality. The three street-facing commercial spaces boast dedicated entrances, enhancing accessibility and visibility for businesses, while the residential units offer separate access for tenants.
Ample street parking ensures convenience for both customers and residents, and the property’s separately metered utilities and shared water system provide operational efficiency. A shared laundry facility adds further tenant appeal.
Positioned in a growing area of Augusta, 602 Third Street presents a rare opportunity for investors seeking a blend of historic character and strong income potential.
Located in the heart of Downtown Augusta, this prime location offers seamless connectivity to North Augusta and the CSRA, with quick access to Washington Road, Riverwatch Parkway, and 13th Street.
Downtown is experiencing significant revitalization, with new developments like The Augustan, The Row, The Lenox, and ATC Development’s 130-unit apartments adding modern living spaces. The historic Sibley and King Mills are also being repurposed into a dynamic mixed-use innovation district.
With its blend of historic charm, accessibility, and ongoing growth, this location is an ideal setting for businesses and residents looking to be part of Augusta’s future.
This property consists of four apartment units, three office units, and a single-family home, providing diverse revenue streams. With a current vacancy, investors have the opportunity to capitalize on the value-add potential, maximizing returns by leasing the available space or repositioning the asset to meet market demand.
Situated at the corner of Walker Street and Third Street—directly across from the historic Thankful Baptist Church—this 1911-built property blends historic charm with modern functionality. The three street-facing commercial spaces boast dedicated entrances, enhancing accessibility and visibility for businesses, while the residential units offer separate access for tenants.
Ample street parking ensures convenience for both customers and residents, and the property’s separately metered utilities and shared water system provide operational efficiency. A shared laundry facility adds further tenant appeal.
Positioned in a growing area of Augusta, 602 Third Street presents a rare opportunity for investors seeking a blend of historic character and strong income potential.
Located in the heart of Downtown Augusta, this prime location offers seamless connectivity to North Augusta and the CSRA, with quick access to Washington Road, Riverwatch Parkway, and 13th Street.
Downtown is experiencing significant revitalization, with new developments like The Augustan, The Row, The Lenox, and ATC Development’s 130-unit apartments adding modern living spaces. The historic Sibley and King Mills are also being repurposed into a dynamic mixed-use innovation district.
With its blend of historic charm, accessibility, and ongoing growth, this location is an ideal setting for businesses and residents looking to be part of Augusta’s future.
PROPERTY FACTS
| Price | $850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $106,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 10.32% | Building Size | 6,052 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1911 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | 007 - MIXED USE | ||
| Price | $850,000 |
| Price Per Unit | $106,250 |
| Sale Type | Investment |
| Cap Rate | 10.32% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,052 SF |
| No. Stories | 2 |
| Year Built | 1911 |
| Opportunity Zone |
Yes |
| Zoning | 007 - MIXED USE |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Heating
- Ceiling Fans
- Carpet
- Office
- Window Coverings
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,175 | 580 |
| 2+2 | 1 | $1,400 | 1,112 |
1 1
PROPERTY TAXES
| Parcel Number | 0474350010 | Improvements Assessment | $245,674 |
| Land Assessment | $1,894 | Total Assessment | $247,568 |
PROPERTY TAXES
Parcel Number
0474350010
Land Assessment
$1,894
Improvements Assessment
$245,674
Total Assessment
$247,568
CONTACTS
-
Jonathan Aceves -
Danielle Meikrantz -
John Eckley -
Meybohm Commercial Properties
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±5,978 Square Feet Downtown Investment | 602-604 3rd St
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