Renovated Medical
For Sale
$1,350,000
6480 Milgen Road, Columbus, GA 31907
Commercial Sale, Columbus, GA
Property Size6,208 SF
Lot Size1.61 Acres
Price / SF$217.46
Days on Market154
Property Features for 6480 Milgen Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
GC
Lot features
Free Standing
Directions
From Jr Allen Parkway (Us-80), Take The Exit For Blackmon Road And Head North. Turn Right Onto Milgen Road And Continue Approximately 1 Mile. The Property Will Be On Your Right.
Subdivision
Muscogee
Standard status
Active
APN
110 005 003C
Size
6,208 SF
Lot size
1.61 Acres
Building Details
Year built
2002
Floors in Building
1
Number of units
1
Building materials
Brick
Listing Agency:
G2 Commercial Real Estate
(706) 660-5418
Listed By:
Jack Hayes · License #336627
(706) 580-0614
Added: Apr 1
Changed: Aug 27
Last Checked: Sep 1 at 5:06PM
MLS# 230809
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.
Located at 6480 Milgen Road in Columbus, Georgia, this 6208-square-foot medical center is being redeveloped within a brick building constructed in 2002. The planned medical office configuration can accommodate one user or two separate practices, with turnkey delivery and flexibility to customize interior layouts and finishes.
The 1.611-acre property is zoned GC and includes expanded parking designed to support patient circulation. The existing drive-thru has been removed as part of the improvements. Its Midland, or northeast Columbus, setting provides a defined location for a healthcare-focused user seeking a renovated commercial facility.
The 1.611-acre property is zoned GC and includes expanded parking designed to support patient circulation. The existing drive-thru has been removed as part of the improvements. Its Midland, or northeast Columbus, setting provides a defined location for a healthcare-focused user seeking a renovated commercial facility.
Key Highlights
- 6208 square feet on 1.611 acres
- Redevelopment into a medical office configuration for one user or two medical practices
- Turnkey delivery with customizable layouts and finishes
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
$73,029
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
5.41%
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%
$1,460,580
$1.5M
Cap Rate 7%
$1,043,271
$1.0M
Cap Rate 9%
$811,433
$811.4K
Market Conditions
NOI Build-Up for 6,208 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
$105.0K $16.92/SF
− Vacancy
−$7.7K −$1.24/SF
EGI
$97.4K $15.68/SF
− OpEx
−$24.3K −$3.92/SF
NOI
$73.0K $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%
$1,460,580
Cap Rate 7%
$1,043,271
Cap Rate 9%
$811,433
Alternative Uses
Best Use
Office B
$1.04M
$912.9K – $1.22M
NOI $73,029 @ 7.0% cap · market cap 5.41%
Second Best
Healthcare Medical
$1.04M
$911.6K – $1.22M
NOI $72,925 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,233 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Explore this area
Business Placement
Demographics for 31907, GA
60,557
Population
25,710
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
91%
High-School Grad
23.8 sq mi
ZIP Area
2,544
Density / Sq Mi
$52,620
Median Household Income
$33,726
Median Earnings
$1,103
Median Rent
$142,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Flexible configuration supports one occupant or two medical practices, with turnkey delivery and customizable interior finishes.
Where is this medical center located?
The property is located at 6480 Milgen Road Columbus, GA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 6208 square feet on 1.611 acres; Redevelopment into a medical office configuration for one user or two medical practices; Turnkey delivery with customizable layouts and finishes
