Downtown Live-Work Office
For Sale
Contact for pricing
1237 Broadway, Columbus, GA 31901
Three-level building with main-floor office space, storage-ready basement, and a fully equipped apartment.
Property Size6,240 SF
Price / SF$272.44
Days on Market133
Property Features for 1237 Broadway
General Information
Standard status
Active
Size
6,240 SF
Class
C
Property subtype
Office
Zoning
CRD
Investment Type
Owner/User
Additional Details
Multifamily Units
1
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
G2 Commercial Real Estate Services
Listed By:
Amy Gill · License #381793
(706) 660-5418
Source:
Crexi
Added: Apr 28
Changed: Sep 6
Last Checked: Sep 6 at 8:08AM
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 G2 Commercial Real Estate Services
Investment Insights
Based on property information with market context.
1237 Broadway is a three-level commercial property offering approximately 6,240 square feet of versatile space. The main floor is configured for office use and provides a functional layout for a variety of business needs. The basement level was most recently used for storage and includes additional space that could be adapted to support expanded operations.
The top floor features a fully equipped apartment with a kitchen and bathroom, making the building well-suited for an owner-occupant live/work arrangement or potential supplemental rental use. Located in the heart of Downtown Columbus on Broadway, the property combines flexible interior configurations with an in-town address.
The top floor features a fully equipped apartment with a kitchen and bathroom, making the building well-suited for an owner-occupant live/work arrangement or potential supplemental rental use. Located in the heart of Downtown Columbus on Broadway, the property combines flexible interior configurations with an in-town address.
Key Highlights
- Approximately 6,240 SF across three levels in Downtown Columbus at 1237 Broadway
- Main floor configured for office use, suitable for a variety of business types
- Basement level most recently used for storage with additional space and conversion potential
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
$73,405
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
4.32%
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%
$1,468,100
$1.5M
Cap Rate 7%
$1,048,643
$1.0M
Cap Rate 9%
$815,611
$815.6K
Market Conditions
NOI Build-Up for 6,240 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
$105.6K $16.92/SF
− Vacancy
−$7.7K −$1.24/SF
EGI
$97.9K $15.68/SF
− OpEx
−$24.5K −$3.92/SF
NOI
$73.4K $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%
$1,468,100
Cap Rate 7%
$1,048,643
Cap Rate 9%
$815,611
Alternative Uses
Best Use
Office B
$1.05M
$917.6K – $1.22M
NOI $73,405 @ 7.0% cap · market cap 4.32%
Second Best
Mixed Use
$1.02M
$892.2K – $1.19M
NOI $71,379 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,735 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,897
Businesses Nearby
Explore this area
Business Placement
Demographics for 31901, GA
7,126
Population
3,971
Households
1.8
Avg Household Size
36
Median Age
35%
College-Educated
82%
High-School Grad
4.4 sq mi
ZIP Area
1,620
Density / Sq Mi
$47,316
Median Household Income
$35,062
Median Earnings
$893
Median Rent
$208,800
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?
Live-work space - Three-level building with main-floor office space, storage-ready basement, and a fully equipped apartment.
Where is this live-work space located?
The property is located at 1237 Broadway Columbus, GA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Approximately 6,240 SF across three levels in Downtown Columbus at 1237 Broadway; Main floor configured for office use, suitable for a variety of business types; Basement level most recently used for storage with additional space and conversion potential
