Flex Building with TPO
For Sale
Contact for pricing
3290 VICTORY DR B, Columbus, GA 31903
The building is currently used as a cleaners and suits light industrial, warehouse, flex, or service functions.
Property Size6,480 SF
Lot Size1.38 Acres
Price / SF$77.16
Days on Market129
Property Features for 3290 VICTORY DR B
General Information
Standard status
Active
Size
6,480 SF
Class
C
Total Parking Spaces
20
Lot size
1.38 Acres
Property subtype
Retail, Mixed Use
Zoning
GC
Additional Details
Road Access
Yes
Building Details
Year Built
1953
Buildings
1
Stories
1
Units
2
Tenancy
Single
Building Size
6,480 SF
Listing Agency:
Keller Williams Realty River Cities
Listed By:
jovan kelly · License #440118
Source:
Crexi
Added: Apr 24
Changed: Aug 29
Last Checked: Jul 11 at 12:21AM
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 Keller Williams Realty River Cities
Investment Insights
Based on property information with market context.
Built in 1953, this 6,480± SF flex building occupies a 1.38-acre General Commercial-zoned parcel at 3290 Victory Dr. The 80-ft-deep structure is currently operated as a cleaners and can accommodate light industrial, warehouse, flex, or service uses. A TPO roof installed in 2015 is an established building improvement.
The property includes approximately 200 feet of frontage along Victory Drive. Its substantial land area provides a setting for parking, outdoor storage, or additional site development, subject to applicable approvals. The combination of an existing commercial building, GC zoning, and a sizable parcel supports consideration by an owner-user or investor.
The property includes approximately 200 feet of frontage along Victory Drive. Its substantial land area provides a setting for parking, outdoor storage, or additional site development, subject to applicable approvals. The combination of an existing commercial building, GC zoning, and a sizable parcel supports consideration by an owner-user or investor.
Key Highlights
- 6,480± SF industrial/flex building
- 1.38‑acre General Commercial‑zoned lot
- ±200 feet of frontage on Victory Drive
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
$35,000
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
7.00%
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%
$700,000
$700.0K
Cap Rate 7%
$500,000
$500.0K
Cap Rate 9%
$388,889
$388.9K
Market Conditions
NOI Build-Up for 6,480 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
$44.3K $6.84/SF
− Vacancy
−$3.1K −$0.49/SF
EGI
$41.2K $6.35/SF
− OpEx
−$6.2K −$0.95/SF
NOI
$35.0K $5.40/SF
Area
Columbus, GA
Vacancy
7.10%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
15.00%
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%
$700,000
Cap Rate 7%
$500,000
Cap Rate 9%
$388,889
Alternative Uses
Best Use
Warehouse
$500.0K
$437.5K – $583.3K
NOI $35,000 @ 7.0% cap · market cap 7.00%
Second Best
Industrial
$411.8K
$360.3K – $480.4K
NOI $28,823 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,494 @ 7.0% cap · market cap 20.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - The building is currently used as a cleaners and suits light industrial, warehouse, flex, or service functions.
Where is this flex space located?
The property is located at 3290 VICTORY DR B Columbus, GA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 6,480± SF industrial/flex building; 1.38‑acre General Commercial‑zoned lot; ±200 feet of frontage on Victory Drive
