Repurposable Office
For Sale
Contact for pricing
1114 N Columbia Ave, Rincon, GA 31326
Existing residential structure is set up for conversion to office space, with an added shed for storage.
Property Size2,216 SF
Price / SF$293.32
Days on Market128
Property Features for 1114 N Columbia Ave
General Information
Standard status
Active
Size
2,216 SF
Property subtype
Retail, Office
Zoning
OC
Investment Type
Owner/User
Building Details
Year Built
1953
Listing Agency:
Coldwell Banker Commercial Morgan Properties
Listed By:
Beth Moraitakis · License #405440
(404) 400-2622
Source:
Crexi
Added: May 1
Changed: Aug 22
Last Checked: Sep 2 at 8:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial Morgan Properties
Investment Insights
Based on property information with market context.
1114 Columbia Avenue presents a repurposable office building opportunity built from an existing residential structure that can be converted to office use. An added shed provides supplementary storage for equipment and materials, supporting practical day-to-day operations.
The property is located just off the Highway 21 corridor, an established commercial artery connecting Rincon to the Savannah MSA. The surrounding area continues to see residential and commercial development along the corridor, contributing to increased demand for local services.
For an owner-user looking to establish an office presence in Effingham County’s growth path, this site offers an immediate, functional conversion approach without waiting for new construction.
The property is located just off the Highway 21 corridor, an established commercial artery connecting Rincon to the Savannah MSA. The surrounding area continues to see residential and commercial development along the corridor, contributing to increased demand for local services.
For an owner-user looking to establish an office presence in Effingham County’s growth path, this site offers an immediate, functional conversion approach without waiting for new construction.
Key Highlights
- 1953‑built property with an existing residential structure set up for conversion to office space
- Added shed provides extra storage for equipment and materials
- Located just off the Highway 21 corridor
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
$30,808
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
4.74%
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%
$616,160
$616.2K
Cap Rate 7%
$440,114
$440.1K
Cap Rate 9%
$342,311
$342.3K
Market Conditions
NOI Build-Up for 2,216 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
$49.2K $22.20/SF
− Vacancy
−$8.1K −$3.66/SF
EGI
$41.1K $18.54/SF
− OpEx
−$10.3K −$4.63/SF
NOI
$30.8K $13.90/SF
Area
Effingham County, GA
Vacancy
16.50%
Lease Rate
$22.20 /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%
$616,160
Cap Rate 7%
$440,114
Cap Rate 9%
$342,311
Alternative Uses
Best Use
Office B
$440.1K
$385.1K – $513.5K
NOI $30,808 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.07M
$1.81M – $2.42M
NOI $144,970 @ 7.0% cap · market cap 22.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Explore this area
Business Placement
Demographics for 31326, GA
22,449
Population
9,465
Households
2.4
Avg Household Size
37
Median Age
29%
College-Educated
94%
High-School Grad
68.6 sq mi
ZIP Area
327
Density / Sq Mi
$82,196
Median Household Income
$47,234
Median Earnings
$1,141
Median Rent
$244,300
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?
Office units - Existing residential structure is set up for conversion to office space, with an added shed for storage.
Where is this office units located?
The property is located at 1114 N Columbia Ave Rincon, GA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1953‑built property with an existing residential structure set up for conversion to office space; Added shed provides extra storage for equipment and materials; Located just off the Highway 21 corridor
