Medical Office Building in Office
For Sale
$1,800,000
1240 Brookstone Centre Parkway Columbus, Columbus, GA 31904
Medical office building in Brookstone Centre Office Park, currently occupied by an eye center and a med spa.
Property Size6,505 SF
Price / SF$276.71
Days on Market48
Property Features for 1240 Brookstone Centre Parkway Columbus
General Information
Standard status
Active
Size
6,505 SF
Property subtype
Commercial
Zoning
CO
Additional Details
Highway Access
Yes
Amenities
Other-See Remarks
Slab
PBLCRCRDS
Other
Sidewalks,Underground Utilities
1.75
Owner
Building Details
Building Size
6,505 SF
Year Built
2010
Buildings
1
Units
1
Listing Agency:
(706) 742-6127
Listed By:
Jasmine Blount
(706) 742-6127
Source:
Nhires
Added: Jul 15
Changed: Aug 17
Last Checked: Aug 30 at 12:57PM
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 Jasmine Blount
Investment Insights
Based on property information with market context.
This medical office property is located within Brookstone Centre Office Park and totals 6,505 square feet. The building is currently home to North Columbus Eye Center and Wellness & Beyond Medispa, supporting healthcare-focused use within a professional office setting.
The location is described as having easy access to I-185 and being just minutes from shopping, dining, and hotels. The surrounding environment includes an approximately 6.5-acre nature preserve and a scenic approximately 3.5-acre pond with walking trails and outdoor sitting areas.
The property is offered for sale with the option to be purchased with a fresh 5-year lease or available vacant for an owner-operator, depending on buyer preference.
The location is described as having easy access to I-185 and being just minutes from shopping, dining, and hotels. The surrounding environment includes an approximately 6.5-acre nature preserve and a scenic approximately 3.5-acre pond with walking trails and outdoor sitting areas.
The property is offered for sale with the option to be purchased with a fresh 5-year lease or available vacant for an owner-operator, depending on buyer preference.
Key Highlights
- 6,505 SF medical office building in Brookstone Centre Office Park, built in 2010
- Currently occupied by North Columbus Eye Center and Wellness & Beyond Medispa
- Easy access to I‑185, with nearby shopping, dining, and hotels
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
$76,414
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
4.25%
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%
$1,528,280
$1.5M
Cap Rate 7%
$1,091,629
$1.1M
Cap Rate 9%
$849,044
$849.0K
Market Conditions
NOI Build-Up for 6,505 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
$137.4K $21.12/SF
− Vacancy
−$10.0K −$1.54/SF
EGI
$127.4K $19.58/SF
− OpEx
−$50.9K −$7.83/SF
NOI
$76.4K $11.75/SF
Area
Columbus, GA
Vacancy
7.30%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
40.00%
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%
$1,528,280
Cap Rate 7%
$1,091,629
Cap Rate 9%
$849,044
Alternative Uses
Best Use
Office B
$1.09M
$956.5K – $1.28M
NOI $76,522 @ 7.0% cap · market cap 4.25%
Second Best
Healthcare Medical
$1.09M
$955.2K – $1.27M
NOI $76,414 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,885 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31904, GA
36,947
Population
15,947
Households
2.3
Avg Household Size
39
Median Age
31%
College-Educated
88%
High-School Grad
27.5 sq mi
ZIP Area
1,344
Density / Sq Mi
$65,625
Median Household Income
$42,573
Median Earnings
$1,036
Median Rent
$216,100
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?
Medical Office Space - Medical office building in Brookstone Centre Office Park, currently occupied by an eye center and a med spa.
Where is this medical office space located?
The property is located at 1240 Brookstone Centre Parkway Columbus Columbus, GA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 6,505 SF medical office building in Brookstone Centre Office Park, built in 2010; Currently occupied by North Columbus Eye Center and Wellness & Beyond Medispa; Easy access to I‑185, with nearby shopping, dining, and hotels
