Brick Retail Shopping
For Sale
Under Contract
$1,600,000
403 S Columbia Avenue, Rincon, GA 31326
Commercial Sale, Rincon, GA
Property Size8,400 SF
Lot Size0.91 Acres
Price / SF$190.48
Days on Market129
Property Features for 403 S Columbia Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
GC
Zoning description
Commercial
Parking
40
Appliances
Electric Water Heater
Directions
Hwy 21 just past Fort Howard Rd on the left.
Standard status
Active Under Contract
APN
R2120-00000-004-A02
Size
8,400 SF
Lot size
0.91 Acres
Taxes and HOA fees
Tax Description
.907 AC
Legal Description
.907 AC
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
1
Building materials
Brick
Listing Agency:
Keller Williams Coastal Area P · Keller Williams Realty
(912) 356-5001
Listed By:
Pamela S. Chance · License #260812
(912) 429-2715
Added: May 4
Changed: Sep 8
Last Checked: Sep 9 at 12:06AM
MLS# SA355307
Copyright © 2026 Hive MLS. 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 retail shopping center contains 8,400 square feet within a 0.91-acre parcel. Built in 2002, the property features brick construction, central heating, central air conditioning, and an electric water heater. Public water and public sewer serve the site, while GC zoning supports its commercial setting.
The center is positioned on Hwy 21 in Rincon, Georgia, within Effingham County. On-site parking includes 43 spaces, providing dedicated parking for the property. The combination of established construction, retail-oriented improvements, and a location along Hwy 21 defines the asset’s physical and commercial profile.
The center is positioned on Hwy 21 in Rincon, Georgia, within Effingham County. On-site parking includes 43 spaces, providing dedicated parking for the property. The combination of established construction, retail-oriented improvements, and a location along Hwy 21 defines the asset’s physical and commercial profile.
Key Highlights
- 8,400‑square‑foot retail center on a 0.91‑acre parcel
- 43 on‑site parking spaces
- GC zoning
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
$95,355
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
5.96%
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%
$1,907,100
$1.9M
Cap Rate 7%
$1,362,214
$1.4M
Cap Rate 9%
$1,059,500
$1.1M
Market Conditions
NOI Build-Up for 8,400 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
$146.2K $17.40/SF
− Vacancy
−$9.9K −$1.18/SF
EGI
$136.2K $16.22/SF
− OpEx
−$40.9K −$4.87/SF
NOI
$95.4K $11.35/SF
Area
Effingham County, GA
Vacancy
6.80%
Lease Rate
$17.40 /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%
$1,907,100
Cap Rate 7%
$1,362,214
Cap Rate 9%
$1,059,500
Alternative Uses
Best Use
Retail
$1.36M
$1.19M – $1.59M
NOI $95,355 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$7.85M
$6.87M – $9.16M
NOI $549,524 @ 7.0% cap · market cap 34.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
401k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Superstores 20%
Home Improvements & Furnishings 16%
Groceries 13%
Walmart
Superstores
80,520 visits/mo
0.4 miles
Kroger
Groceries
52,521 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
37,153 visits/mo
0.5 miles
Chick-fil-A
Dining
34,895 visits/mo
0.4 miles
McDonald's
Dining
24,934 visits/mo
0.2 miles
Demographics for 31326, GA
22,449
Population
9,465
Households
2.4
Avg Household Size
37
Median Age
29%
College-Educated
94%
High-School Grad
68.6 sq mi
ZIP Area
327
Density / Sq Mi
$82,196
Median Household Income
$47,234
Median Earnings
$1,141
Median Rent
$244,300
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?
Shopping center - Brick construction, central HVAC, and public utilities serve the retail center.
Where is this shopping center located?
The property is located at 403 S Columbia Avenue Rincon, GA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 8,400‑square‑foot retail center on a 0.91‑acre parcel; 43 on‑site parking spaces; GC zoning
