Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Columbus Multifamily Investment Opportunity Title is generated by Realmo AI

    507 22nd Street, Columbus, GA 31904

    View on Map
    Claim this Listing
    New
    For Sale
    $600,000

    MULTI_FAMILY - Columbus, GA

    Property size:
    6,420 SF
    Lot size:
    0.27 Acres
    Price / SF:
    $93/SF
    Added:
    May 28, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 2 at 8:06 am

    Property Features for 507 22nd Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Driveway
    Standard status
    Active
    APN
    016 002 003
    Size
    6,420 SF
    Lot size
    0.27 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1987
    Number of units
    6
    Building materials
    Vinyl Siding

    We can help!

    Listing Contact
    Owen Hopper

    Listing agent Owen Hopper

    Listing office Ellis Realty P.O. Box 8514, Columbus, GA

    Listing date May 28, 2026

    MLS# 232013 Listing URL

    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.

    HighLights

    • 100% Occupied: Provides immediate rental income
    • Each Unit: 2BR, 1.5BA - desirable unit configuration
    • Individually Metered Apartments simplifies utility management
    • Large Private Parking Lot for tenants
    • Laundry Room in Each Unit: a convenient amenity
    • Patio Space Behind Each Apartment offers private outdoor space

    Overview

    This multifamily property in Columbus, Georgia, presents an investment opportunity. The building is 100% occupied and contains units with 2 bedrooms and 1.5 bathrooms. A laundry room is available. The property includes a large private parking lot for tenants on each side of the building, as well as patio space behind each apartment. Each apartment is individually metered. Long-term tenants are currently in place. The property is situated on a 0.27-acre lot and the building size is 6,420 square feet.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $100.2k $15.60
    − Vacancy −$6.5k −$1.01
    EGI $93.6k $14.59
    − OpEx −$42.1k −$6.56
    NOI $51.5k $8.02
    6,420 SF · lease $15.60/SF/yr · vacancy 6.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $735.8K
    $643.8K – $858.4K (±1% cap)
    NOI $51,503 @ 7.0% cap · market cap 8.58%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.44M
    $1.26M – $1.68M (±1% cap)
    NOI $100,554 @ 7.0% cap · market cap 16.76%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    507 22nd Apartments Apartment Building

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Muscogee
    State
    Georgia
    Longitude
    -84.985261
    Latitude
    32.485174

    Nearby Similar for Sale

    • $750,000
      6,152 SF

      Medical Office Building Investment Opportunity

      Multi-tenant medical office building in Columbus, Georgia for sale.
      3822 Rosemont Drive, Columbus, GA 31904
      View Details
    • $595,000
      5,150 SF

      Columbus Office Property For Sale

      5,150 SF office property with stable income and versatile space.
      310 Ford Drive, Columbus, GA 31907
      View Details
    • $575,000
      2,914 SF

      Medical Office Investment Opportunity

      Freestanding medical office building with established tenant through 2030.
      1818 Warm Springs Road, Columbus, GA 31904
      View Details
    • $949,000
      5,478 SF

      Turnkey Medical Office Near Hospital

      Equipped medical office space near Piedmont Hospital in Columbus, GA.
      959 17th Street, Columbus, GA 31901
      View Details
    • $594,000
      5,704 SF

      Former Bank Building on Victory

      5,704 SF commercial building ideal for financial institutions.
      1535 Benning Drive, Columbus, GA 31903
      View Details
    • $865,000
      12,060 SF

      Columbus Industrial Warehouse Opportunity

      12,060 SF industrial warehouse on 4.8 acres for sale.
      2500 Blanchard Boulevard, Columbus, GA 31901
      View Details
    • $415,000
      6,480 SF

      Columbus Industrial/Flex Building on Victory

      6,480 SF building on 1.38 acres with commercial zoning.
      3290 Victory Drive, Columbus, GA 31903
      View Details
    • $525,000
      3,444 SF

      Columbus Commercial Property on Whitesville

      High-visibility commercial property suited for retail, office, or restaurant.
      5748 Whitesville Road, Columbus, GA 31904
      View Details
    • $500,000
      3,855 SF

      Columbus Investment Property For Sale

      Three-unit building in Columbus's North End, generating nearly $5,000 monthly.
      4982 Warm Springs Road, Columbus, GA 31909
      View Details
    • $279,900
      5,400 SF

      Versatile Commercial Space on Buena Vista

      5,400 SF commercial property with office, bay doors, parking.
      5251 Buena Vista Road, Columbus, GA 31907
      View Details
    • $1,350,000
      6,208 SF

      Renovated Medical Office Building

      Turnkey medical office in rapidly growing Midland area.
      6480 Milgen Road, Columbus, GA 31907
      View Details
    • $750,000
      11,560 SF

      Columbus Church on 2.61 Acres

      Brick church with stained glass on 2.61 acres.
      4323 Primrose Road, Columbus, GA 31907
      View Details

    FAQs

    What type of property is this?
    Apartment building - Fully occupied multifamily property with long-term tenants and individual metering.
    Where is this apartment building located?
    The property is located at 507 22nd Street Columbus, GA.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: 100% Occupied: Provides immediate rental income; Each Unit: 2BR, 1.5BA - desirable unit configuration; Individually Metered Apartments simplifies utility management
    (706) 588-8952
    We can help!
    Listing Contact
    Owen Hopper
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    507 22nd Street, Columbus, GA 31904
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!