This flagship Athens asset is adjacent to UGA and Downtown and comprises 36 units + 119 beds. It was originally constructed in 1897, but was converted to loft apartments in 1977 and then an extensive value-add was completed from 2018 - 2023. Farmers Exchange is currently 100% Occupied and 92.4% Pre-Leased for AY 25-26 with average rents at only $768/ bed. Surrounding competition this close to campus charges $286 - $604 more per bed for their 1BR - 5BR floor plans. This deal comes with ASSUMABLE non-recourse debt with Fannie at 4.14% that matures 12/1/31. It's on a 30 year AM and has IO until 12/1/26. Loan Balance is $7.467MM (67% LTV). Farmer's Exchange has been well maintained throughout the years. In 2018, the 300 Building had floors refinished, ceiling height increased and a full interior/ exterior paint. All common area lighting was replaced, a laundry room was added, alongside common area updates to include a pool table, package lockers, study rooms, nest thermostats and updated exterior signage. Current ownership resealed the flat TPO roof in January 2020 and in 2021 performed a Green Loan update which included adding solar film protective to all windows, adding weather stripping to all doors/ windows and adding low flow shower heads. In 2023, 10 HVAC units were replaced and they also replaced and upgraded the entire fire monitoring system (including electrical and conduit). Interior unit features include exposed brick and beam architecture, hardwood floors, white wood cabinets, granite countertops, stainless steel appliances and more. -Incredible Location: This property is adjacent to The University of Georgia and Downtown Athens. -Assumable Non-Recourse Debt: This property has assumable non-recourse debt with Fannie at 4.14% with IO until 12/1/26 that matures 12/1/31. -Strong Occupancy and Pre-Lease: Farmer's Exchange is currently 100% Occupied and 92.4% Pre-Leased 24-25 school year. -Ability to Reduce Expenses: Farmer's exchange currently includes cable in the rent, so stripping this expense for AY 25-26 would save over $7,000 on an annual basis.1. Hardwood Flooring & Exposed Brick and Beam Architecture, 2. White wood cabinets with granite countertops and stainless steel appliances, 3. Nest Thermostats and Electronic Keys / Fob entry, 4. ASSUMABLE DEBT! Adjacent to UGA's campus
Property Details
Property Features
Property Information:
Year Built: 1890
Stories: 2
Living Area: 31,623 SqFt
Listing Office:
Office Name: University Holdings Brokerage, LLC
Office Phone: (706) 305-7785
Listing Agent: Jill Swope
Interior Features
Interior Information:
Basement: Yes
Exterior Features
Parking Information:
Parking: Additional Parking, Parking Available
Lot Features
Lot Information:
Lot Size: 0.68 Acres
Utilities
Utilities Information:
Heating: Electric
Cooling: Electric
Other
Directions Information:
Directions: Located in downtown Athens at the corner of Broad St and Oconee St.
Price Information
Listing Price Info
Price Summary:
List Price: $11,220,000
Price Per SqFt: $355/SqFt
Tax Information:
Annual Amount: $113,820
Tax Year: 2021
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
5
/10
Barrow Elementary School
100 Pinecrest Dr
Distance between this listing and this school1.31 miles
Public District Grades PK-5
3
/10
Howard B. Stroud Elementary School
715 Fourth St
Distance between this listing and this school1.32 miles
Public District Grades PK-5
7
/10
Johnnie Lay Burks Elementary School
757 N Chase St
Distance between this listing and this school1.36 miles
Public District Grades PK-5
Nearby Schools
5
/10
Clarke Middle School
1235 Baxter St
Distance between this listing and this school2.15 miles
Public District Grades 6-8
4
/10
Hilsman Middle School
870 Gaines School Rd
Distance between this listing and this school2.80 miles
Public District Grades 6-8
2
/10
W. R. Coile Middle School
110 Old Elberton Rd
Distance between this listing and this school4.73 miles
Public District Grades 6-8
Nearby Schools
4
/10
Clarke Central High School
350 S Milledge Ave
Distance between this listing and this school1.13 miles
Public District Grades 9-12
5
/10
Foothills Charter High School (Central Office - Athens)
2415 Jefferson Rd Ste B
Distance between this listing and this school2.65 miles
Public Charter Grades 9-12
2
/10
Cedar Shoals High School
1300 Cedar Shoals Dr
Distance between this listing and this school3.35 miles
The neighbors living near this home have an average income of $12,682. The most common annual income of people living in Athens, GA is less than $35k. The majority of families are single, no kids. The majority of residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Living In Athens, GA
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Types of housing in Athens, GA.
Athens offers a diverse array of housing options, with single-family homes being a significant part of the market. The architectural styles in Athens range from historic antebellum to contemporary, reflecting the city's rich history and modern growth. While the majority of homes are owner-occupied, there is also a substantial portion of the population that rents, providing a balanced housing market for both potential homeowners and renters.
What is it like to live in Athens, GA?
Athens is celebrated for its vibrant music scene and the annual AthFest Music and Arts Festival, which showcases local talent and fosters community spirit. The city prides itself on its blend of southern charm and progressive culture, offering residents a unique living experience that combines a rich historical ambiance with a dynamic, creative energy.
Is it easy to get around Athens, GA without a car?
The community is served by a robust educational system, including a number of public and private schools, as well as higher education institutions known for their research and academic excellence. Healthcare services are comprehensive, with several hospitals and clinics catering to a range of medical needs. Athens also features a variety of retail and dining options, from local boutiques to international cuisine, reflecting the eclectic nature of the city.
Transportation in Athens, GA.
Athens has a well-developed transport infrastructure, with a network of roads and highways that connect the city to the wider region. Public transportation is available, with bus services providing connectivity across various neighborhoods. The city is also bike-friendly, with dedicated lanes and trails for cyclists, and walkable areas, particularly in the downtown district, encourage pedestrian movement. Ride-sharing services are operational, complementing the existing transport options.
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This home is located at 580 E Broad St in Athens, GA and zip code 30601. This 31,623 square foot home, which was built in 1890, sits on a 0.68 acre lot. It has been listed on Rocket Homes since August 15, 2024 and is currently priced at $11,220,000.
Athens, GA housing market in October 2024 saw over 14 listings sold above listed price, more than 24 sold at listed price and over 71 sold below. The inventory of homes for sale in Athens, GA between September 2024 and October 2024 increased by 1.3%. In October 2024, listings were on the market for 51 days. During the same period, the median list price in this real estate market was $350,000.
From Rocket Homes Real Estate and based on county public records data.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of Classic MLS. Information deemed reliable but not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. 
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