Three-Level Mixed-Use
For Sale
$1,700,000
1237 Broadway, Columbus, GA 31901
Commercial Sale, Columbus, GA
Property Size6,240 SF
Lot Size0.09 Acres
Price / SF$272.44
Days on Market137
Property Features for 1237 Broadway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CRD
Rooms
Basement
Basement
Full, Finished
Directions
From Interstate 185, Take The Exit Toward Downtown/Us-27 (Victory Dr). Continue West Toward Downtown, Then Turn Right Onto Broadway. Proceed North On Broadway. Property Will Be On The Right At 1237 Broadway.
Subdivision
Muscogee
Standard status
Active
APN
004 008 014
Size
6,240 SF
Lot size
0.09 Acres
Building Details
Year built
1900
Floors in Building
3
Number of units
1
Building materials
Brick
Listing Agency:
G2 Commercial Real Estate
(706) 660-5418
Listed By:
Amy Gill · License #381793
(706) 562-3616
Added: Apr 29
Changed: Aug 27
Last Checked: Sep 12 at 8:06AM
MLS# 231467
Copyright © 2026 Columbus Board of Realtors (GA). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property contains approximately 6,240 square feet arranged across three levels. The main floor is configured as office space, while the basement provides storage area. The upper level includes an apartment with a kitchen and bathroom, creating a combination of commercial and residential space within the same building.
Built in 1900, the brick property occupies 0.09 acres at 1237 Broadway in Downtown Columbus. The site is identified with CRD zoning and includes a basement component as part of its existing layout.
Built in 1900, the brick property occupies 0.09 acres at 1237 Broadway in Downtown Columbus. The site is identified with CRD zoning and includes a basement component as part of its existing layout.
Key Highlights
- Approximately 6,240 square feet across three levels
- Main floor configured for office use
- Upper‑level apartment includes a kitchen and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,405
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,468,100
$1.5M
Cap Rate 7%
$1,048,643
$1.0M
Cap Rate 9%
$815,611
$815.6K
Market Conditions
NOI Build-Up for 6,240 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$105.6K $16.92/SF
− Vacancy
−$7.7K −$1.24/SF
EGI
$97.9K $15.68/SF
− OpEx
−$24.5K −$3.92/SF
NOI
$73.4K $11.76/SF
Area
Columbus, GA
Vacancy
7.30%
Lease Rate
$16.92 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,468,100
Cap Rate 7%
$1,048,643
Cap Rate 9%
$815,611
Alternative Uses
Best Use
Office B
$1.05M
$917.6K – $1.22M
NOI $73,405 @ 7.0% cap · market cap 4.32%
Second Best
Mixed Use
$1.02M
$892.2K – $1.19M
NOI $71,379 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,735 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,897
Businesses Nearby
Explore this area
Business Placement
Demographics for 31901, GA
7,126
Population
3,971
Households
1.8
Avg Household Size
36
Median Age
35%
College-Educated
82%
High-School Grad
4.4 sq mi
ZIP Area
1,620
Density / Sq Mi
$47,316
Median Household Income
$35,062
Median Earnings
$893
Median Rent
$208,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office, storage, and residential space are arranged across three levels in a brick building.
Where is this mixed-use property located?
The property is located at 1237 Broadway Columbus, GA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Approximately 6,240 square feet across three levels; Main floor configured for office use; Upper‑level apartment includes a kitchen and bathroom
