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    Columbus Multifamily Investment Opportunity Title is generated by Realmo AI

    4500 S Stadium Dr, Columbus, GA 31909

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    For Sale
    $2,875,000

    Multifamily property in Columbus, Georgia with high IRR.

    Added:
    Mar 5, 2026
    Days on Market:
    92
    Last Refresh:
    Apr 5 at 8:21 pm

    Property Features for 4500 S Stadium Dr

    General Information

    Standard status
    Active

    Building Details

    Year Built
    1958

    We can help!

    Listing Contact
    Ernie Anaya, MBA
    Ernie Anaya, MBA

    Listing agent Ernie Anaya, MBA License #SC #93244

    Listing office Bull Realty, Inc. - Atlanta

    Listing date Mar 5, 2026

    Source Bullrealty

    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 Bull Realty, Inc. - Atlanta

    HighLights

    • High IRR of 73.54% indicates a strong potential return on investment.
    • Attractive Acquisition CAP Rate of 12.2% suggests a favorable purchase price relative to income.
    • Property qualifies for an SBA 504 Loan with a 25‑year term, 85% LTC, and a 5.856% interest rate.
    • Significant projected sales proceeds of $3.39 million after expenses in Year 5.
    • Strong Debt Service Coverage Ratio of 1.88 demonstrates the ability to cover debt obligations.
    • Below market price at $112.46/SF compared to CoStar Southeast Sold Comps at $233/SF.

    Overview

    Located in Columbus, Georgia, approximately 100 miles southwest of Atlanta, this multifamily property benefits from the city's strategic positioning at the Fall Line. Columbus operates under a consolidated government structure, enhancing regional coordination and economic development. The city's economy is supported by military, financial services, and healthcare sectors. Fort Moore is the area’s largest employer, supporting roughly 45,000 military and civilian personnel. Columbus is also home to major corporate headquarters including Aflac, TSYS, and Synovus, reinforcing its role as a regional financial hub. Healthcare is another key pillar, led by Piedmont Columbus Regional, which operates the largest acute care hospital in west Georgia and serves 21 surrounding counties. The property has an actual gross revenue of $1,995,746 and an occupancy rate of 81.35%. The forecast NOI is $395,694, normalizing expenses to 75% of Gross Revenue. The property qualifies for an SBA 504 Loan with a 25-year term, 85% LTC, and 5.856% interest. Using Vacancy 22.5% Year 1, 15% Years 2-10, Revenue growth 5% per year, IRR is projected at 73.54% with a Cash on Cash of 32.25%. The Acquisition CAP Rate is 12.2% and Debt Service Coverage Ratio is 1.88. Projected Sales Year 5 is $5.54 million with sales proceeds after expenses of $3.39 million.
    Property Profile Location Intelligence

    Current Use by Public Records

    Oaks at Maple Ridge Nursing Home

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Muscogee
    State
    Georgia
    Longitude
    -84.9108
    Latitude
    32.5556

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    FAQs

    What type of property is this?
    Apartment building - Multifamily property in Columbus, Georgia with high IRR.
    Where is this apartment building located?
    The property is located at 4500 S Stadium Dr Columbus, GA.
    What is the asking price?
    The asking price for this property is $2,875,000.
    What are key features of this property?
    This property features: High IRR of 73.54% indicates a strong potential return on investment.; Attractive Acquisition CAP Rate of 12.2% suggests a favorable purchase price relative to income.; Property qualifies for an SBA 504 Loan with a 25‑year term, 85% LTC, and a 5.856% interest rate.
    (404) 876-1640
    We can help!
    Listing Contact
    Ernie Anaya, MBA
    Ernie Anaya, MBA
    Real Estate License ID: SC #93244
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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