Historic Office Building with
For Sale
$289,900
215 9th Street, Columbus, GA 31901
SINGLE_FAMILY - Columbus, GA
Property Size1,290 SF
Lot Size0.11 Acres
Price / SF$224.73
Days on Market201
Property Features for 215 9th Street
General Information
Property type
Residential
Property subtype
Office
Zoning
HIST
Lot features
Curbs, Sidewalks, Street Lights
Directions
Take Veterans Parkway To Downtown. Turn West Onto 9th Avenue. Property Will Be One Block Down On Left
Subdivision
05-W Columbus
Standard status
Active
APN
003 006 022
Size
1,290 SF
Lot size
0.11 Acres
Utilities
Utilities
Water Available
Heating system
Natural Gas
Cooling system
Ceiling Fan(s)
Building Details
Year built
1906
Floors in Building
1
Number of units
1
Flooring type
Hardwood
Building materials
Frame
Roof type
Asphalt
Listing Agency:
Braxton Real Estate LLC
(706) 289-5886
Listed By:
Leah Braxton · License #210859
(706) 289-5886
Added: Feb 2
Changed: Jun 9
Last Checked: Aug 22 at 11:06AM
MLS# 226760
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 historic office building offers classic character and a practical layout for professional use. The full-width front porch welcomes visitors into a space with high 13' ceilings and hardwood floors. Inside, the building includes six private offices, a large conference room, a hallway kitchenette, and a private bath. A handicap ramp is located on the rear of the building to support accessibility.
The property is located just steps from the Columbus/Muscogee County Courthouse and within walking distance to Uptown amenities, with parking options including off-street parking as well as additional street parking directly out front.
Configured for a small, office-focused operation, the building sits on a 0.11-acre lot and is zoned HIST.
The property is located just steps from the Columbus/Muscogee County Courthouse and within walking distance to Uptown amenities, with parking options including off-street parking as well as additional street parking directly out front.
Configured for a small, office-focused operation, the building sits on a 0.11-acre lot and is zoned HIST.
Key Highlights
- Prime location steps from the Columbus/Muscogee County Courthouse and walking distance to Uptown amenities.
- Ideal for professional office use with 6 private offices and a large conference room.
- Historic property with charming features like a welcoming front porch, high 13' ceilings, and hardwood floors.
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
$15,175
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
5.23%
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%
$303,500
$303.5K
Cap Rate 7%
$216,786
$216.8K
Cap Rate 9%
$168,611
$168.6K
Market Conditions
NOI Build-Up for 1,290 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
$21.8K $16.92/SF
− Vacancy
−$1.6K −$1.24/SF
EGI
$20.2K $15.68/SF
− OpEx
−$5.1K −$3.92/SF
NOI
$15.2K $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%
$303,500
Cap Rate 7%
$216,786
Cap Rate 9%
$168,611
Alternative Uses
Best Use
Office B
$216.8K
$189.7K – $252.9K
NOI $15,175 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$288.6K
$252.6K – $336.8K
NOI $20,205 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
6
Office units
Location Intelligence
Trade Area within ½ mile
1,845
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?
Office building - Historic office building features a full-width front porch, high ceilings, hardwood floors, multiple offices, and a rear handicap ramp.
Where is this office building located?
The property is located at 215 9th Street Columbus, GA.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Prime location steps from the Columbus/Muscogee County Courthouse and walking distance to Uptown amenities.; Ideal for professional office use with 6 private offices and a large conference room.; Historic property with charming features like a welcoming front porch, high 13' ceilings, and hardwood floors.
