Freestanding Storefront
For Sale
$240,000
2360 Shelby Street, Columbus, GA 31903
Flexible commercial building with central air, on-site parking, and access from nearby residential areas and main thoroughfares.
Property Size1,546 SF
Lot Size0.28 Acres
Price / SF$155.24
Days on Market306
Property Features for 2360 Shelby Street
General Information
Standard status
Active
Size
1,546 SF
Lot size
0.28 Acres
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,302
Amenities
Central Air
3
Parking.
Lot.
12196.7998046875
In City.
Building Details
Year Built
1950
Buildings
1
Listing Agency:
The Real Estate Concierge LLC
(912) 438-1270
Listed By:
Roger Jones · License #429406
(912) 438-1270
Source:
Xome
Added: Oct 30, 2025
Changed: Aug 30
Last Checked: Aug 30 at 9:05PM
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 The Real Estate Concierge LLC
Investment Insights
Based on property information with market context.
This freestanding storefront property offers 1,546 square feet of commercial space on a 0.28-acre lot. Built in 1950, the building includes central air and a versatile interior that can accommodate retail, office, service, or other creative commercial uses identified for the property. On-site parking is also provided.
The property is located at 2360 Shelby Street in Columbus, Georgia, within the South Columbus corridor. Its setting provides street visibility and convenient access from surrounding residential neighborhoods and main thoroughfares. The parcel contains approximately 12,197 square feet of land, offering a commercial footprint suited to a range of small-business operations.
The property is located at 2360 Shelby Street in Columbus, Georgia, within the South Columbus corridor. Its setting provides street visibility and convenient access from surrounding residential neighborhoods and main thoroughfares. The parcel contains approximately 12,197 square feet of land, offering a commercial footprint suited to a range of small-business operations.
Key Highlights
- 1,546 SF freestanding commercial building
- 0.28‑acre lot totaling approximately 12,197 square feet
- Constructed in 1950
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
$18,831
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
7.85%
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%
$376,620
$376.6K
Cap Rate 7%
$269,014
$269.0K
Cap Rate 9%
$209,233
$209.2K
Market Conditions
NOI Build-Up for 1,546 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
$28.2K $18.24/SF
− Vacancy
−$1.3K −$0.84/SF
EGI
$26.9K $17.40/SF
− OpEx
−$8.1K −$5.22/SF
NOI
$18.8K $12.18/SF
Area
Columbus, GA
Vacancy
4.60%
Lease Rate
$18.24 /SF/Yr
Expense Ratio
30.00%
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%
$376,620
Cap Rate 7%
$269,014
Cap Rate 9%
$209,233
Alternative Uses
Best Use
Retail
$269.0K
$235.4K – $313.9K
NOI $18,831 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$345.9K
$302.7K – $403.6K
NOI $24,214 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
105k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 36%
Apparel 14%
Hotels & Casinos 2%
Burger King
Dining
17,549 visits/mo
0.1 miles
Wendy's
Dining
14,067 visits/mo
0.3 miles
Dollar Tree
Shops & Services
13,949 visits/mo
0.3 miles
Little Caesars Pizza
Dining
12,809 visits/mo
0.4 miles
Citi Trends
Apparel
6,594 visits/mo
0.1 miles
Demographics for 31903, GA
20,703
Population
9,593
Households
2.2
Avg Household Size
34
Median Age
8%
College-Educated
76%
High-School Grad
10.0 sq mi
ZIP Area
2,070
Density / Sq Mi
$29,488
Median Household Income
$27,063
Median Earnings
$873
Median Rent
$75,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial building with central air, on-site parking, and access from nearby residential areas and main thoroughfares.
Where is this storefront property located?
The property is located at 2360 Shelby Street Columbus, GA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1,546 SF freestanding commercial building; 0.28‑acre lot totaling approximately 12,197 square feet; Constructed in 1950
