602-604 3rd St - Apartments FOR SALE


Augusta, GA 30901- Old Town Augusta
$1,000,000 USD
706-214-2927
602-604 3rd St, Augusta, GA for Sale
$1,000,000 USD
Apartments - FOR SALE
1/120
null | 8.77% Cap Rate

602-604 3rd St
Augusta, GA 30901
Old Town Augusta


HIGHLIGHTS

  • Sale Price: $1,000,000 | Price/SF: $167
  • Office Spaces: 3 Office Units | Single Family: 1 Single Family Home | Apartments: 4 (1 Bed/1 Bath)
  • Pro Forma Cap Rate: 8.77% | Pro Forma NOI: $87,711
  • Condition: Newly Renovated Interior
  • 3 Mile Population: 32,079
  • 3 Mile Median Household Income: $35,216

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,000,000 USD

PRICE/SF

$165 USD /SF

# OF UNITS

8

PRICE/UNIT

$125,000

CAP RATE

8.77%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

±5,978 Square Feet Downtown Investment

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1911

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

007

APN/PARCEL ID

0474350010

ASK ABOUT THIS PROPERTY

Jonathan AcevesMeybohm Commercial PropertiesMore Info
706-214-2927

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Jonathan AcevesMeybohm Commercial PropertiesMore Info
706-214-2927

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.