Light Manufacturing Warehouse Development
For Sale
$3,950,000
4332 Old Cusseta Road, Columbus, GA 31903
COMMERCIAL - Columbus, GA
Property Size53,000 SF
Lot Size10.51 Acres
Price / SF$74.53
Days on Market47
Property Features for 4332 Old Cusseta Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
(Use Gps Due To Area Construction)follow I-185 S To St Marys Rd. Take Exit 3 From I-185 S 4 Min (3.9 Mi) Take N Oakley Dr And Allied Dr To Your Destination 4 Min (1.5 Mi) 4332 Old Cusseta Rd Columbus, Ga 31903
Subdivision
07-S W Columbus
Standard status
Active
APN
090004009
Size
53,000 SF
Lot size
10.51 Acres
Building Details
Year built
1960
Number of units
1
Listing Agency:
Re/Max Results
(706) 845-7000
Listed By:
Morgan Marlowe · License #86587
(706) 315-8260
Added: Jul 8
Changed: Aug 4
Last Checked: Aug 23 at 8:06AM
MLS# 232833
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.
4332 Old Cusseta Road is a 10.51-acre tract in Muscogee County with more than 53,000 square feet of existing warehouse space. The property is described as Zoned Light Manufacturing, and it is also noted to be in an Opportunity Zone and Enterprise zone. The site is presented for development and expansion, with a portion of the property identified as potentially suitable for rail access on the south side.
The location is positioned along Old Cusseta Road with frontage reported as more than 400 feet on Old Cusseta Road. The remarks also cite more than 1,300 feet of interstate frontage on I-185, and they describe a new interchange off I-185 onto Old Cusseta Road that is expected to be completed in late 2026. The planned exit and entrance for the southbound lane is described as occurring directly in front of the tract, and the remarks reference I-185 daily traffic over 42,000.
For tenants, buyers, or operators looking for a Light Manufacturing-zoned warehouse site with existing distribution or storage improvements, this tract provides the base building area plus room for future development. The proposed interchange and the possibility of rail access support use cases that benefit from flexible access and site scalability, subject to confirmation through applicable permitting and engineering.
The location is positioned along Old Cusseta Road with frontage reported as more than 400 feet on Old Cusseta Road. The remarks also cite more than 1,300 feet of interstate frontage on I-185, and they describe a new interchange off I-185 onto Old Cusseta Road that is expected to be completed in late 2026. The planned exit and entrance for the southbound lane is described as occurring directly in front of the tract, and the remarks reference I-185 daily traffic over 42,000.
For tenants, buyers, or operators looking for a Light Manufacturing-zoned warehouse site with existing distribution or storage improvements, this tract provides the base building area plus room for future development. The proposed interchange and the possibility of rail access support use cases that benefit from flexible access and site scalability, subject to confirmation through applicable permitting and engineering.
Key Highlights
- Over 53,000 SF of existing warehouse space on the property
- Over 1,300 feet of interstate frontage on I‑185
- Over 400 feet of frontage on Old Cusseta Road
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
$286,264
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
7.25%
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%
$5,725,280
$5.7M
Cap Rate 7%
$4,089,486
$4.1M
Cap Rate 9%
$3,180,711
$3.2M
Market Conditions
NOI Build-Up for 53,000 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
$362.5K $6.84/SF
− Vacancy
−$25.7K −$0.49/SF
EGI
$336.8K $6.35/SF
− OpEx
−$50.5K −$0.95/SF
NOI
$286.3K $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%
$5,725,280
Cap Rate 7%
$4,089,486
Cap Rate 9%
$3,180,711
Alternative Uses
Best Use
Warehouse
$4.09M
$3.58M – $4.77M
NOI $286,264 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.86M
$10.38M – $13.84M
NOI $830,117 @ 7.0% cap · market cap 21.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
144
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.
Similar Off Market Nearby
- Allied Storage Facility — 4343 Allied Dr, Columbus, GA 31906
Frequently Asked Questions
What type of property is this?
Warehouse - Existing warehouse space on a 10.51-acre Light Manufacturing-zoned site with proposed interstate interchange frontage.
Where is this warehouse located?
The property is located at 4332 Old Cusseta Road Columbus, GA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Over 53,000 SF of existing warehouse space on the property; Over 1,300 feet of interstate frontage on I‑185; Over 400 feet of frontage on Old Cusseta Road
