Historic Office
For Sale
$325,000
308 10th Street, Columbus, GA 31901
Commercial Sale, Columbus, GA
Property Size2,265 SF
Lot Size0.15 Acres
Price / SF$143.49
Days on Market96
Property Features for 308 10th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Security features
Security
Basement
Crawl Space
Lot features
Free Standing
Directions
Travel South On Veterans Parkway, Turn Right Onto 10th Street. Building Will Be On The Left, Right Between Ruth Ann's And Columbus Tape And Video.
Subdivision
Muscogee
Standard status
Active
APN
019 015 011
Size
2,265 SF
Lot size
0.15 Acres
Utilities
Utilities
Water Available
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
reception area
private offices
hardwood floors
12-foot ceilings
kitchen area
bathrooms
alarm system
handicap ramp
Building Details
Year built
1898
Floors in Building
1
Number of units
1
Flooring type
Hardwood
Roof type
Asphalt
Listing Agency:
Coldwell Banker / Kennon, Parker, Duncan & Davis · Coldwell Banker Real Estate
(706) 256-1000
Listed By:
Adrienne Long · License #148291
(706) 888-2861
Added: Jul 1
Changed: Aug 27
Last Checked: Oct 4 at 5:06AM
MLS# 231383
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.
Built in 1898, this 2,265-square-foot office building combines historic construction with functional updates. The interior includes a reception area, five private offices, a kitchen area, and one and a half bathrooms. Hardwood floors and 12-foot ceilings add distinctive character, while new wiring and a heat-pump HVAC system installed 5–6 years ago support current use. An existing alarm system and rear handicap ramp are also in place.
The property occupies 0.15 acres at 308 10th Street in Columbus, Georgia 31901. Additional physical features include an asphalt roof, available water service, and a basement. The configuration provides a defined reception area, multiple enclosed offices, and supporting amenity space within a compact commercial building.
The property occupies 0.15 acres at 308 10th Street in Columbus, Georgia 31901. Additional physical features include an asphalt roof, available water service, and a basement. The configuration provides a defined reception area, multiple enclosed offices, and supporting amenity space within a compact commercial building.
Key Highlights
- 2,265 SF office building on 0.15 acres
- Built in 1898 with hardwood flooring and 12‑foot ceilings
- Reception area plus five private offices
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
$26,645
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
8.20%
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%
$532,900
$532.9K
Cap Rate 7%
$380,643
$380.6K
Cap Rate 9%
$296,056
$296.1K
Market Conditions
NOI Build-Up for 2,265 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
$38.3K $16.92/SF
− Vacancy
−$2.8K −$1.24/SF
EGI
$35.5K $15.68/SF
− OpEx
−$8.9K −$3.92/SF
NOI
$26.6K $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%
$532,900
Cap Rate 7%
$380,643
Cap Rate 9%
$296,056
Alternative Uses
Best Use
Office B
$380.6K
$333.1K – $444.1K
NOI $26,645 @ 7.0% cap · market cap 8.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$506.8K
$443.5K – $591.3K
NOI $35,476 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,967
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Updated office property with private rooms, hardwood flooring, and a practical layout for day-to-day business operations.
Where is this office building located?
The property is located at 308 10th Street Columbus, GA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,265 SF office building on 0.15 acres; Built in 1898 with hardwood flooring and 12‑foot ceilings; Reception area plus five private offices
