Commercial Land with Retail
For Sale
$395,000
4200 Victory Drive, Columbus, GA 31903
Commercial Sale, Columbus, GA
Property Size2,505 SF
Lot Size1.67 Acres
Price / SF$157.68
Days on Market140
Property Features for 4200 Victory Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Downtown Columbus, Head South On Broadway St. To I-185 S. Take Exit 1a For Victory Dr. And Follow It For 1.5 Miles. 4200 Victory Dr. Will Be On Your Right, Near South Lumpkin Rd And Edgewood Rd. Watch For Signs Along The Way.
Subdivision
Muscogee
Standard status
Active
APN
062 053 001
Size
2,505 SF
Lot size
1.67 Acres
Building Details
Year built
1963
Number of units
10
Listing Agency:
G2 Commercial Real Estate
(706) 660-5418
Listed By:
Jack Hayes · License #336627
(706) 580-0614
Added: Apr 15
Changed: Aug 27
Last Checked: Sep 1 at 4:06PM
MLS# 220779
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 commercial land assemblage covers 1.67 acres across 10 adjoining parcels. One parcel contains a 2,505-square-foot retail building constructed in 1963; the space is fully leased, and the lease is structured without landlord maintenance responsibilities. The other nine parcels are undeveloped, creating a combination of existing retail improvements and vacant land within the assemblage.
Eight parcels carry Neighborhood Commercial (NC) zoning, while two are designated Single-Family Residential (SFR). The property is located at 4200 Victory Drive in Columbus, Georgia, along a road reporting average daily traffic of more than 28,000 vehicles. Parcel identification numbers included in the sale are 062 053 001, 062 053 022, 062 053 020, 062 053 003, 062 053 004, 062 053 005, 062 053 006, 062 053 017, 062 053 018, and 062 053 019.
Eight parcels carry Neighborhood Commercial (NC) zoning, while two are designated Single-Family Residential (SFR). The property is located at 4200 Victory Drive in Columbus, Georgia, along a road reporting average daily traffic of more than 28,000 vehicles. Parcel identification numbers included in the sale are 062 053 001, 062 053 022, 062 053 020, 062 053 003, 062 053 004, 062 053 005, 062 053 006, 062 053 017, 062 053 018, and 062 053 019.
Key Highlights
- 1.67‑acre assemblage spanning 10 contiguous parcels
- Fully leased 2,505 SF retail space on one parcel
- Nine parcels contain undeveloped land
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
$30,513
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
7.72%
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%
$610,260
$610.3K
Cap Rate 7%
$435,900
$435.9K
Cap Rate 9%
$339,033
$339.0K
Market Conditions
NOI Build-Up for 2,505 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
$45.7K $18.24/SF
− Vacancy
−$2.1K −$0.84/SF
EGI
$43.6K $17.40/SF
− OpEx
−$13.1K −$5.22/SF
NOI
$30.5K $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%
$610,260
Cap Rate 7%
$435,900
Cap Rate 9%
$339,033
Alternative Uses
Best Use
Retail
$435.9K
$381.4K – $508.6K
NOI $30,513 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$560.5K
$490.4K – $653.9K
NOI $39,235 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28,000 VPD
Traffic count
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 21%
Hotels & Casinos 16%
Waffle House
Dining
6,903 visits/mo
0.1 miles
Exxon
Shops & Services
2,625 visits/mo
0.5 miles
Holiday Inn Express & Suites Columbus-Fort Benning
Hotels & Casinos
2,547 visits/mo
0.4 miles
Papa John's Pizza
Dining
1,728 visits/mo
0.3 miles
Krispy Krunchy Chicken
Dining
1,331 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?
Commercial land - Ten adjoining parcels combine leased retail space with undeveloped land and varied commercial and residential zoning.
Where is this commercial land located?
The property is located at 4200 Victory Drive Columbus, GA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1.67‑acre assemblage spanning 10 contiguous parcels; Fully leased 2,505 SF retail space on one parcel; Nine parcels contain undeveloped land
