Listing

Property Description:

It's not every day you can buy a property that has its own historic postcard! This distinctive building offers something increasingly difficult to findauthentic downtown character paired with an established, income-producing mixed-use operation. The 7,200 SF two-story property provides five separate income streams between 3,600 SF of ground-floor retail space and four efficiency-style apartments above. Its history remains visible throughout, from the distinctive faade and expansive storefront to exposed brick, hardwood floors, tall windows and elaborate pressed-metal ceilings. The street-level commercial space is particularly impressive, with an expansive open layout, distinctive architectural details and excellent visibility along coveted N Patterson Street. An elevated mezzanine-style office overlooks the main retail floor, adding a unique and functional workspace while maintaining the openness of the commercial space. Upstairs, the four residential units carry much of the same architectural character that makes historic downtown properties so distinctive. Each unit is individually metered, with utilities direct-billed to tenants by the utility providers. Offered at $995,000, or $138/SF, the property provides an opportunity to acquire substantial improved square footage in the downtown core while benefiting from existing tenancy and multiple revenue streams. Downtown Valdosta is experiencing significant investment and redevelopment, with more than $24 million in downtown investment recently announced and approximately 180,000 SF of property expected to be transformed through new development, redevelopment, restaurants, shops and businesses. 113115 N Patterson Street brings together a combination that cannot easily be recreated: established income, historic architecture, multiple revenue streams and prominent N Patterson Street frontage in the heart of downtown. Some buildings provide income. Others provide history. This one does both!