Renovated Freestanding Retail
For Sale
$255,000
2408 Fort Benning Road, Columbus, GA 31903
Commercial Sale, Columbus, GA
Property Size1,472 SF
Lot Size0.35 Acres
Price / SF$173.23
Days on Market77
Property Features for 2408 Fort Benning Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
NC
Lot features
Free Standing
Directions
From Victory Drive, Turn South On Fort Benning Road. Go 1/2 Mile And Property Will Be On Your Left Just Past Matthews Street.
Subdivision
07-S W Columbus
Standard status
Active
APN
062 055 016
Size
1,472 SF
Lot size
0.35 Acres
Utilities
Utilities
Water Available
Heating system
Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
1960
Floors in Building
1
Number of units
1
Building materials
Block
Roof type
Metal
Listing Agency:
Coldwell Banker / Kennon, Parker, Duncan & Davis · Coldwell Banker Real Estate
(706) 256-1000
Listed By:
Blake Carter · License #450145
(706) 566-2916
Added: Jun 9
Changed: Aug 21
Last Checked: Aug 24 at 6:06AM
MLS# 231822
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 1,472-square-foot freestanding retail building is configured around a spacious open operating area, with a restroom and separate storage space. The property is currently set up for laundromat use, while the offering includes the real estate only; washers and dryers are excluded and must be acquired separately.
Completed improvements in 2025 include replacement gas lines, electrical service, plumbing, HVAC and ductwork, along with a new metal roof. Block-wall construction and an electric heating and cooling system provide a durable, functional building envelope. The property occupies 0.35 acres and carries NC zoning. Water is available, and the building was originally constructed in 1960.
Located at 2408 Fort Benning Road in Columbus, Georgia, the site offers a practical layout for continued laundromat operations or other commercial applications supported by the existing configuration.
Completed improvements in 2025 include replacement gas lines, electrical service, plumbing, HVAC and ductwork, along with a new metal roof. Block-wall construction and an electric heating and cooling system provide a durable, functional building envelope. The property occupies 0.35 acres and carries NC zoning. Water is available, and the building was originally constructed in 1960.
Located at 2408 Fort Benning Road in Columbus, Georgia, the site offers a practical layout for continued laundromat operations or other commercial applications supported by the existing configuration.
Key Highlights
- 1,472 SF freestanding retail building on 0.35 acres
- Laundromat configuration with open operating area, restroom, and dedicated storage
- 2025 updates include gas lines, electrical, plumbing, HVAC, ductwork, and metal roof
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
$17,930
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
7.03%
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%
$358,600
$358.6K
Cap Rate 7%
$256,143
$256.1K
Cap Rate 9%
$199,222
$199.2K
Market Conditions
NOI Build-Up for 1,472 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
$26.8K $18.24/SF
− Vacancy
−$1.2K −$0.84/SF
EGI
$25.6K $17.40/SF
− OpEx
−$7.7K −$5.22/SF
NOI
$17.9K $12.18/SF
Area
Columbus, GA
Vacancy
4.60%
Lease Rate
$18.24 /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%
$358,600
Cap Rate 7%
$256,143
Cap Rate 9%
$199,222
Alternative Uses
Best Use
Retail
$256.1K
$224.1K – $298.8K
NOI $17,930 @ 7.0% cap · market cap 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$329.4K
$288.2K – $384.3K
NOI $23,055 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Dining 34%
Hotels & Casinos 28%
Exxon
Shops & Services
2,625 visits/mo
0.4 miles
Holiday Inn Express & Suites Columbus-Fort Benning
Hotels & Casinos
2,547 visits/mo
0.4 miles
Papa John's Pizza
Dining
1,728 visits/mo
0.4 miles
Krispy Krunchy Chicken
Dining
1,331 visits/mo
0.3 miles
Precision Tune Auto Care
Shops & Services
708 visits/mo
0.3 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Updated commercial facility with an open operating area, restroom, storage, and water availability.
Where is this retail space located?
The property is located at 2408 Fort Benning Road Columbus, GA.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 1,472 SF freestanding retail building on 0.35 acres; Laundromat configuration with open operating area, restroom, and dedicated storage; 2025 updates include gas lines, electrical, plumbing, HVAC, ductwork, and metal roof
