Bank Building with
For Sale
$850,000
1535 Benning Drive, Columbus, GA 31903
Commercial Sale, Columbus, GA
Property Size5,704 SF
Lot Size1.89 Acres
Price / SF$149.02
Days on Market54
Property Features for 1535 Benning Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
GC
Lot features
Free Standing
Directions
Head South On 1st Avenue Toward Broad Street, Continue Until You Reach Victory Dr And Make A Left Turn. Stay On Victory Dr For About 3 Miles. Take A Left On Benning Dr. Property Will Be On The Left.
Subdivision
Muscogee
Standard status
Active
APN
063 001 048
Size
5,704 SF
Lot size
1.89 Acres
Utilities
Cooling system
Central Air, Electric
Amenities
teller counter area
secure bank vault
cash drop safe
ATM alcove
two restrooms
break room
multiple private offices
open desk areas
drive-thru building
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic, Carpet
Building materials
Brick
Listing Agency:
G2 Commercial Real Estate
(706) 660-5418
Listed By:
Jack Hayes · License #336627
(706) 580-0614
Added: Jul 11
Changed: Aug 31
Last Checked: Sep 2 at 5:06AM
MLS# 220551
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.
Built in 1960, this 5,704-square-foot brick facility retains a banking-oriented layout with a teller area, secure vault, cash drop safe, and ATM alcove. The interior also includes two restrooms, a break room, private offices, and open desk areas, with carpet and ceramic tile flooring and central electric air conditioning. A separate 652-square-foot drive-through building is included.
The property occupies a 1.89-acre corner lot in Columbus, Georgia, adjacent to Walmart and surrounded by retail businesses. General Commercial zoning supports a broad range of business uses. The configuration and existing improvements are suited to financial operations and other professional-service functions.
The property occupies a 1.89-acre corner lot in Columbus, Georgia, adjacent to Walmart and surrounded by retail businesses. General Commercial zoning supports a broad range of business uses. The configuration and existing improvements are suited to financial operations and other professional-service functions.
Key Highlights
- 5,704 SF former bank building with teller area, secure vault, cash drop safe, and ATM alcove
- Separate 652 SF drive‑through building
- 1.89‑acre corner lot in Columbus, GA
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
$74,441
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
8.76%
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%
$1,488,820
$1.5M
Cap Rate 7%
$1,063,443
$1.1M
Cap Rate 9%
$827,122
$827.1K
Market Conditions
NOI Build-Up for 5,704 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
$104.0K $18.24/SF
− Vacancy
−$4.8K −$0.84/SF
EGI
$99.3K $17.40/SF
− OpEx
−$24.8K −$4.35/SF
NOI
$74.4K $13.05/SF
Area
Columbus, GA
Vacancy
4.60%
Lease Rate
$18.24 /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%
$1,488,820
Cap Rate 7%
$1,063,443
Cap Rate 9%
$827,122
Alternative Uses
Best Use
Specialty Retail
$1.06M
$930.5K – $1.24M
NOI $74,441 @ 7.0% cap · market cap 8.76%
Second Best
Retail
$992.6K
$868.5K – $1.16M
NOI $69,479 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,339 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 31903, GA
20,703
Population
9,593
Households
2.2
Avg Household Size
34
Median Age
8%
College-Educated
76%
High-School Grad
10.0 sq mi
ZIP Area
2,070
Density / Sq Mi
$29,488
Median Household Income
$27,063
Median Earnings
$873
Median Rent
$75,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - Former banking facility with secure financial-service improvements, private offices, and open work areas.
Where is this bank located?
The property is located at 1535 Benning Drive Columbus, GA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 5,704 SF former bank building with teller area, secure vault, cash drop safe, and ATM alcove; Separate 652 SF drive‑through building; 1.89‑acre corner lot in Columbus, GA
