Medical Office with Medispa
For Sale
$1,800,000
1240 Brookstone Centre Parkway, Columbus, GA 31904
COMMERCIAL - Columbus, GA
Property Size6,505 SF
Lot Size1.75 Acres
Price / SF$276.71
Days on Market145
Property Features for 1240 Brookstone Centre Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CO
Lot features
Sidewalks, Business Park
Directions
Turn Into Brookstone Centre Turn Right At Stop Sign Building On Right
Subdivision
01-N W Columbus
Standard status
Active
APN
181 008 085
Size
6,505 SF
Lot size
1.75 Acres
Utilities
Utilities
Water Available
Cooling system
Electric, Central Air
Building Details
Year built
2010
Floors in Building
1
Number of units
1
Building materials
Brick
Roof type
Metal
Listing Agency:
Berkshire Hathaway HS First Magnolia Realty
(706) 221-5031
Listed By:
Cal Knecht · License #389218
(860) 933-7022
Added: Mar 22
Changed: Aug 4
Last Checked: Aug 13 at 1:06AM
MLS# 230641
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 medical office property is located within Brookstone Centre Office Park and totals 6,505 square feet. The building is currently occupied by North Columbus Eye Center and Wellness & Beyond Medispa, providing an existing healthcare-focused tenant mix. The offering includes the option to purchase with a fresh 5-year lease or as a vacant property for an owner-operator.
The site is positioned with easy access to I-185. It is also described as minutes from shopping, dining, and hotels. The property is set within a landscaped office park environment, surrounded by an approximately 6.5-acre nature preserve and an approximately 3.5-acre pond, with walking trails and outdoor sitting areas.
For buyers or operators seeking a turnkey healthcare facility, the current configuration supports medical uses, with space already in place for an eye-care practice and medispa services. The CO zoning designation may make the property a practical fit for qualified medical professionals looking for a site in an established office park setting.
The site is positioned with easy access to I-185. It is also described as minutes from shopping, dining, and hotels. The property is set within a landscaped office park environment, surrounded by an approximately 6.5-acre nature preserve and an approximately 3.5-acre pond, with walking trails and outdoor sitting areas.
For buyers or operators seeking a turnkey healthcare facility, the current configuration supports medical uses, with space already in place for an eye-care practice and medispa services. The CO zoning designation may make the property a practical fit for qualified medical professionals looking for a site in an established office park setting.
Key Highlights
- 6,505‑SF medical office in Brookstone Centre Office Park in Columbus, GA
- Brick construction with metal roof; built in 2010
- Currently home to North Columbus Eye Center and Wellness & Beyond Medispa
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
$76,414
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
4.25%
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%
$1,528,280
$1.5M
Cap Rate 7%
$1,091,629
$1.1M
Cap Rate 9%
$849,044
$849.0K
Market Conditions
NOI Build-Up for 6,505 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
$137.4K $21.12/SF
− Vacancy
−$10.0K −$1.54/SF
EGI
$127.4K $19.58/SF
− OpEx
−$50.9K −$7.83/SF
NOI
$76.4K $11.75/SF
Area
Columbus, GA
Vacancy
7.30%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
40.00%
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%
$1,528,280
Cap Rate 7%
$1,091,629
Cap Rate 9%
$849,044
Alternative Uses
Best Use
Office B
$1.09M
$956.5K – $1.28M
NOI $76,522 @ 7.0% cap · market cap 4.25%
Second Best
Healthcare Medical
$1.09M
$955.2K – $1.27M
NOI $76,414 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,885 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31904, GA
36,947
Population
15,947
Households
2.3
Avg Household Size
39
Median Age
31%
College-Educated
88%
High-School Grad
27.5 sq mi
ZIP Area
1,344
Density / Sq Mi
$65,625
Median Household Income
$42,573
Median Earnings
$1,036
Median Rent
$216,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office in Brookstone Centre Office Park, currently housing an eye center and a medispa, with easy I-185 access.
Where is this medical office space located?
The property is located at 1240 Brookstone Centre Parkway Columbus, GA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 6,505‑SF medical office in Brookstone Centre Office Park in Columbus, GA; Brick construction with metal roof; built in 2010; Currently home to North Columbus Eye Center and Wellness & Beyond Medispa
