Strip Center with Restaurant
For Sale
$2,100,000
7466 Blackmon Road, Columbus, GA 31909
Commercial Sale, Columbus, GA
Property Size7,718 SF
Lot Size1.27 Acres
Price / SF$272.09
Days on Market85
Property Features for 7466 Blackmon Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
GC
Directions
From J.R. Allen Parkway (Us-80), Take Exit For Blackmon Road And Head North. Travel Approximately 0.5 Miles. 7466 Blackmon Road Will Be On The Right Within The Retail Center.
Subdivision
Muscogee
Standard status
Active
APN
101 030 008
Size
7,718 SF
Lot size
1.27 Acres
Building Details
Year built
2017
Number of units
3
Listing Agency:
G2 Commercial Real Estate
(706) 660-5418
Listed By:
Jack Hayes · License #336627
(706) 580-0614
Added: Jun 9
Changed: Aug 27
Last Checked: Sep 1 at 7:06PM
MLS# 231435
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.
Blackmon Retail Center is a 7,718-square-foot strip center on a 1.27-acre parcel at 7466 Blackmon Road in Columbus, Georgia. Constructed in 2017, the property is arranged as three suites and includes an equipment package in the former restaurant space. Another available suite was previously used as a lounge, providing distinct layouts for future occupancy or reconfiguration.
The center can be divided into as many as five spaces. Two suites totaling 3,322 square feet and 3,052 square feet are available for repositioning, while a third suite is leased through 2029. The property is zoned GC and is located in a retail corridor along Blackmon Road.
The center can be divided into as many as five spaces. Two suites totaling 3,322 square feet and 3,052 square feet are available for repositioning, while a third suite is leased through 2029. The property is zoned GC and is located in a retail corridor along Blackmon Road.
Key Highlights
- 7,718 SF strip center on 1.27 acres
- Three existing suites with capacity for up to five spaces
- One suite leased through 2029
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
$94,010
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
4.48%
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%
$1,880,200
$1.9M
Cap Rate 7%
$1,343,000
$1.3M
Cap Rate 9%
$1,044,556
$1.0M
Market Conditions
NOI Build-Up for 7,718 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
$140.8K $18.24/SF
− Vacancy
−$6.5K −$0.84/SF
EGI
$134.3K $17.40/SF
− OpEx
−$40.3K −$5.22/SF
NOI
$94.0K $12.18/SF
Area
Columbus, GA
Vacancy
4.60%
Lease Rate
$18.24 /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%
$1,880,200
Cap Rate 7%
$1,343,000
Cap Rate 9%
$1,044,556
Alternative Uses
Best Use
Retail
$1.34M
$1.18M – $1.57M
NOI $94,010 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,884 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 68%
Dining 18%
Home Improvements & Furnishings 12%
Shops & Services 2%
Walmart Neighborhood Market
Groceries
38,037 visits/mo
0.1 miles
Waffle House
Dining
9,174 visits/mo
0.2 miles
Ace Hardware
Home Improvements & Furnishings
6,710 visits/mo
0.2 miles
Extra Space Storage
Shops & Services
958 visits/mo
0.3 miles
Hibachi Express
Dining
819 visits/mo
0.1 miles
Demographics for 31909, GA
38,760
Population
17,486
Households
2.2
Avg Household Size
35
Median Age
38%
College-Educated
91%
High-School Grad
18.7 sq mi
ZIP Area
2,073
Density / Sq Mi
$69,221
Median Household Income
$44,029
Median Earnings
$1,271
Median Rent
$205,800
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?
Strip mall - Built in 2017, the property offers flexible suite planning and an existing food-service equipment package.
Where is this strip mall located?
The property is located at 7466 Blackmon Road Columbus, GA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 7,718 SF strip center on 1.27 acres; Three existing suites with capacity for up to five spaces; One suite leased through 2029
