Brick Triplex
For Sale
$199,000
1804 17th Avenue, Columbus, GA 31901
Residential Income, Columbus, GA
Property Size1,976 SF
Lot Size0.17 Acres
Price / SF$100.71
Days on Market18
Property Features for 1804 17th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 4
Parking features
Driveway
Subdivision
Parkplace
Lot features
Less than 1/2 Acre
Directions
From Veterans Pkwy, Turn Onto 18th St Heading East. Slight Left On 17th Ave. Property Will Be On The Right.
Standard status
Active
APN
028 035 005
Size
1,976 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1947
Number of units
3
Building materials
Brick, Frame
Listing Agency:
Coldwell Banker / Kennon, Parker, Duncan & Davis · Coldwell Banker Real Estate
(706) 256-1000
Listed By:
Jim Blalock · License #282603
(706) 566-8220
Added: Aug 7
Changed: Aug 20
Last Checked: Aug 24 at 5:06AM
MLS# 233465
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 triplex contains 1,976 square feet arranged with six bedrooms and three bathrooms. Built in 1947, the property combines brick and frame construction with electric heating and driveway parking. Public water and public sewer serve the residence.
The property occupies 0.17 acres at 1804 17th Avenue in Columbus, Georgia 31901. Long-term tenants are in place, and the asset is offered for sale as a residential income property.
The property occupies 0.17 acres at 1804 17th Avenue in Columbus, Georgia 31901. Long-term tenants are in place, and the asset is offered for sale as a residential income property.
Key Highlights
- Triplex with 1,976 square feet
- Six bedrooms and three bathrooms
- Built in 1947 with brick and frame construction
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
$17,910
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
9.00%
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%
$358,200
$358.2K
Cap Rate 7%
$255,857
$255.9K
Cap Rate 9%
$199,000
$199.0K
Market Conditions
NOI Build-Up for 1,976 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
$27.3K $13.80/SF
− Vacancy
−$1.7K −$0.85/SF
EGI
$25.6K $12.95/SF
− OpEx
−$7.7K −$3.88/SF
NOI
$17.9K $9.06/SF
Area
Columbus, GA
Vacancy
6.17%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$358,200
Cap Rate 7%
$255,857
Cap Rate 9%
$199,000
Alternative Uses
Best Use
Multifamily LT 5
$255.9K
$223.9K – $298.5K
NOI $17,910 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$226.5K
$198.2K – $264.2K
NOI $15,852 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$442.1K
$386.9K – $515.8K
NOI $30,949 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,263
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with public water and sewer service.
Where is this triplex located?
The property is located at 1804 17th Avenue Columbus, GA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Triplex with 1,976 square feet; Six bedrooms and three bathrooms; Built in 1947 with brick and frame construction
