Renovated Commercial Property on
For Sale
Contact for pricing
2415 Manchester Expressway, Columbus, GA 31904
Turnkey commercial property renovated in 2026, ideal for various businesses.
Property Size1,215 SF
Price / SF$205.68
Days on Market101
Property Features for 2415 Manchester Expressway
General Information
Standard status
Active
Size
1,215 SF
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
1947
Units
1
Listing Agency:
Coldwell Banker Commercial - KPDD
Listed By:
Blake Carter · License #450145
Source:
Crexi
Added: May 23
Changed: Aug 8
Last Checked: Aug 30 at 3:50PM
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 Coldwell Banker Commercial - KPDD
Investment Insights
Based on property information with market context.
The property at 2415 Manchester Expressway is a 1,215 square foot commercial building that was fully renovated in 2026. The extensive renovation included a new roof, a new HVAC system, updated plumbing and plumbing fixtures, new electrical fixtures, new flooring, fresh interior and exterior paint, updated cabinetry and countertops, and a newly installed rear privacy fence. Currently configured as a modern salon space, the property features stylish finishes, a functional layout, and a professional atmosphere. It is suitable for salon, spa, boutique retail, office, or other service-oriented commercial uses. The sale includes all new salon furnishings and fixtures. The property is located along the high-traffic Manchester Expressway corridor near I-185 S in Columbus, GA.
Key Highlights
- Fully renovated in 2026 with new roof, HVAC, plumbing, electrical, flooring, paint, cabinetry, countertops, and rear privacy fence.
- Turnkey commercial property in a high‑traffic location on Manchester Expressway near I‑185 S.
- Includes all new salon furnishings and fixtures for a move‑in‑ready opportunity.
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
$14,800
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
5.92%
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%
$296,000
$296.0K
Cap Rate 7%
$211,429
$211.4K
Cap Rate 9%
$164,444
$164.4K
Market Conditions
NOI Build-Up for 1,215 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
$22.2K $18.24/SF
− Vacancy
−$1.0K −$0.84/SF
EGI
$21.1K $17.40/SF
− OpEx
−$6.3K −$5.22/SF
NOI
$14.8K $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%
$296,000
Cap Rate 7%
$211,429
Cap Rate 9%
$164,444
Alternative Uses
Best Use
Retail
$211.4K
$185.0K – $246.7K
NOI $14,800 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$271.9K
$237.9K – $317.2K
NOI $19,030 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,196
Businesses Nearby
159k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 78%
Shops & Services 21%
Hotels & Casinos 1%
Chick-fil-A
Dining
61,969 visits/mo
0.3 miles
Starbucks
Dining
19,090 visits/mo
0.4 miles
Circle K
Shops & Services
12,729 visits/mo
0.1 miles
SONIC Drive In
Dining
9,920 visits/mo
0.5 miles
Arby's
Dining
8,699 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Turnkey commercial property renovated in 2026, ideal for various businesses.
Where is this retail space located?
The property is located at 2415 Manchester Expressway Columbus, GA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Fully renovated in 2026 with new roof, HVAC, plumbing, electrical, flooring, paint, cabinetry, countertops, and rear privacy fence.; Turnkey commercial property in a high‑traffic location on Manchester Expressway near I‑185 S.; Includes all new salon furnishings and fixtures for a move‑in‑ready opportunity.
