Apartment Building on One
For Sale
$2,600,000
8082 Veterans Parkway, Columbus, GA 31909
Residential Income, Columbus, GA
Property Size20,000 SF
Lot Size1.00 Acre
Price / SF$130
Days on Market221
Property Features for 8082 Veterans Parkway
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
Spring Creek Village
Directions
Intersection Of Moon Rd And Veterans Pkwy, North Bound On Veterans Pkwy, Property Will Be On Your Right.
Standard status
Active
APN
073 022 018 15
Size
20,000 SF
Lot size
1.00 Acre
Building Details
Year built
2006
Number of units
20
Listing Agency:
Keller Williams Realty River Cities
(706) 221-6900
Listed By:
Kyra Cottle
(678) 412-5583
Added: Jan 26
Changed: Aug 19
Last Checked: Sep 4 at 12:06AM
MLS# 221071
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.
This apartment building was completed in 2006 and contains 20,000 square feet of improvements on a 1-acre site. The property is reported to have no vacancies.
Showings are not available at this time. A property walk-through and inspection will be arranged during due diligence, with additional details available through the listing agent.
Showings are not available at this time. A property walk-through and inspection will be arranged during due diligence, with additional details available through the listing agent.
Key Highlights
- 20,000 square feet of apartment building improvements
- Constructed in 2006
- Situated on 1 acre
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
$160,446
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
6.17%
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%
$3,208,920
$3.2M
Cap Rate 7%
$2,292,086
$2.3M
Cap Rate 9%
$1,782,733
$1.8M
Market Conditions
NOI Build-Up for 20,000 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
$312.0K $15.60/SF
− Vacancy
−$20.3K −$1.01/SF
EGI
$291.7K $14.59/SF
− OpEx
−$131.3K −$6.56/SF
NOI
$160.4K $8.02/SF
Area
Columbus, GA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$3,208,920
Cap Rate 7%
$2,292,086
Cap Rate 9%
$1,782,733
Alternative Uses
Best Use
Apartment 5plus
$2.29M
$2.01M – $2.67M
NOI $160,446 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.48M
$3.92M – $5.22M
NOI $313,252 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Established apartment property with no reported vacancies and a scheduled due diligence inspection process.
Where is this apartment building located?
The property is located at 8082 Veterans Parkway Columbus, GA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 20,000 square feet of apartment building improvements; Constructed in 2006; Situated on 1 acre
