Mixed-Use Property with
For Sale
$172,500
3609 Hamilton Road, Columbus, GA 31904
Commercial Sale, Columbus, GA
Property Size1,783 SF
Lot Size0.19 Acres
Price / SF$96.75
Days on Market200
Property Features for 3609 Hamilton Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C3
Rooms
Basement
Exterior features
Storage
Fencing
Fenced
Basement
Crawl Space
Lot features
Curbs, Sidewalks, Street Lights, Corner Lot, Free Standing
Directions
Manchester Expressway To Hamilton Rd, Property Is On The Right
Subdivision
Muscogee
Standard status
Active
APN
030 020 003
Size
1,783 SF
Lot size
0.19 Acres
Utilities
Utilities
Water Available
Heating system
Electric (Heating)
Cooling system
Electric, Central Air, Ceiling Fan(s)
Building Details
Year built
1946
Floors in Building
1
Number of units
2
Flooring type
Hardwood
Building materials
Frame
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Champions Realty
(706) 596-1339
Listed By:
Patti Mann
(706) 315-7869
Added: Mar 19
Changed: Sep 13
Last Checked: Oct 4 at 5:06AM
MLS# 230589
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 C3-zoned mixed-use property includes a two-bedroom, one-bath home and an 883 HSF warehouse on a 0.19-acre fenced lot. The residence offers a kitchen, dining area, living room, front porch, and refinished hardwood flooring. Interior and exterior painting has been completed, and both structures have metal roofs.
The heated and cooled warehouse contains three separate rooms, a storage room, and a bathroom. It has walk-up access to Hamilton Road along with a side roll-up door. A covered area connects the two structures, while water is available at the property. The building dates to 1946 and includes frame construction, central air, electric cooling, ceiling fans, and electric heating.
The heated and cooled warehouse contains three separate rooms, a storage room, and a bathroom. It has walk-up access to Hamilton Road along with a side roll-up door. A covered area connects the two structures, while water is available at the property. The building dates to 1946 and includes frame construction, central air, electric cooling, ceiling fans, and electric heating.
Key Highlights
- Two‑bedroom, one‑bath residence with kitchen, dining area, living room, and front porch
- 883 HSF heated and cooled warehouse with three rooms, storage, and a bathroom
- 0.19‑acre C3‑zoned commercial lot with complete fencing
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
$14,304
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
8.29%
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%
$286,080
$286.1K
Cap Rate 7%
$204,343
$204.3K
Cap Rate 9%
$158,933
$158.9K
Market Conditions
NOI Build-Up for 1,783 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
$27.8K $15.60/SF
− Vacancy
−$1.8K −$1.01/SF
EGI
$26.0K $14.59/SF
− OpEx
−$11.7K −$6.56/SF
NOI
$14.3K $8.02/SF
Area
Columbus, GA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$286,080
Cap Rate 7%
$204,343
Cap Rate 9%
$158,933
Alternative Uses
Best Use
Mixed Use
$291.4K
$255.0K – $339.9K
NOI $20,396 @ 7.0% cap · market cap 11.82%
Second Best
Apartment 5plus
$204.3K
$178.8K – $238.4K
NOI $14,304 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$398.9K
$349.1K – $465.4K
NOI $27,926 @ 7.0% cap · market cap 16.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fenced commercial parcel combines a residential dwelling with a heated and cooled warehouse and separate utility areas.
Where is this mixed-use property located?
The property is located at 3609 Hamilton Road Columbus, GA.
What is the asking price?
The asking price for this property is $172,500.
What are key features of this property?
This property features: Two‑bedroom, one‑bath residence with kitchen, dining area, living room, and front porch; 883 HSF heated and cooled warehouse with three rooms, storage, and a bathroom; 0.19‑acre C3‑zoned commercial lot with complete fencing
