8-Suite Multi-Tenant Office
For Sale
$1,500,000
Pending
5651 Whitesville Road, Columbus, GA 31904
Commercial Sale, Columbus, GA
Property Size8,640 SF
Lot Size0.95 Acres
Days on Market59
Property Features for 5651 Whitesville Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
RO
Lot features
Free Standing
Directions
From I-185, Take Exit 10 For Us-27/Veterans Parkway And Travel North. Turn Left Onto Whitesville Road. The Property Is Located On The Left At 5651 Whitesville Road.
Subdivision
Muscogee
Standard status
Pending
APN
188 007 004
Size
8,640 SF
Lot size
0.95 Acres
Building Details
Year built
1983
Number of units
8
Building materials
Brick
Listing Agency:
G2 Commercial Real Estate
(706) 660-5418
Listed By:
Amy Gill · License #381793
(706) 562-3616
Added: Jul 16
Changed: Aug 27
Last Checked: Sep 12 at 8:06AM
MLS# 232573
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.
The property is an 8,640-square-foot multi-tenant office building on approximately 0.95 acres. Built in 1983 with brick construction, it is arranged into eight office suites, seven of which are currently occupied. Existing leases include rent escalations, providing defined increases within the current lease structure.
Located at 5651 Whitesville Road in Columbus, Georgia, the property is positioned in an established commercial area near retail, restaurants, and professional services. The site is zoned RO and offers a diversified office configuration with one suite currently available for lease-up.
Located at 5651 Whitesville Road in Columbus, Georgia, the property is positioned in an established commercial area near retail, restaurants, and professional services. The site is zoned RO and offers a diversified office configuration with one suite currently available for lease-up.
Key Highlights
- 8,640 SF multi‑tenant office building on approximately 0.95 acres
- Eight office suites with seven currently occupied
- Existing leases include rent escalations
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
$101,638
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
6.78%
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%
$2,032,760
$2.0M
Cap Rate 7%
$1,451,971
$1.5M
Cap Rate 9%
$1,129,311
$1.1M
Market Conditions
NOI Build-Up for 8,640 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 $16.92/SF
− Vacancy
−$10.7K −$1.24/SF
EGI
$135.5K $15.68/SF
− OpEx
−$33.9K −$3.92/SF
NOI
$101.6K $11.76/SF
Area
Columbus, GA
Vacancy
7.30%
Lease Rate
$16.92 /SF/Yr
Expense Ratio
25.00%
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%
$2,032,760
Cap Rate 7%
$1,451,971
Cap Rate 9%
$1,129,311
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,638 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.26M
NOI $135,325 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,209
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Brick office property with established occupancy, multiple suites, and contractual rent escalations.
Where is this office building located?
The property is located at 5651 Whitesville Road Columbus, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8,640 SF multi‑tenant office building on approximately 0.95 acres; Eight office suites with seven currently occupied; Existing leases include rent escalations
