Retail Storefront For
For Sale
$220,000
Pending
4818 Miller Road, Columbus, GA 31909
Commercial Sale, Columbus, GA
Property Size1,071 SF
Lot Size0.48 Acres
Days on Market109
Property Features for 4818 Miller Road
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
8
Basement
Crawl Space
Directions
From Warm Springs Road, Go S On Miller Rd Or Use Gps
Subdivision
Muscogee
Standard status
Pending
APN
083 028 011
Size
1,071 SF
Lot size
0.48 Acres
Building Details
Year built
1947
Number of units
1
Roof type
Asphalt
Listing Agency:
Coldwell Banker / Kennon, Parker, Duncan & Davis · Coldwell Banker Real Estate
(706) 256-1000
Listed By:
Lamar Fields · License #266466
(706) 593-8077
Added: May 14
Changed: Aug 27
Last Checked: Aug 30 at 11:06PM
MLS# 230727
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 for-sale retail storefront is located at 4818 Miller Road in Columbus, GA 31909. The property includes approximately 1,071 square feet of commercial space situated on about 0.48 acres.
The listing falls under commercial retail property types and is being offered for sale. With its dedicated storefront configuration, the space may be suited for established retail operations or adaptive retail uses consistent with a buyer’s plans.
The property’s lot and building size provide a straightforward footprint for prospective buyers evaluating a compact retail investment or an owner-occupied storefront.
The listing falls under commercial retail property types and is being offered for sale. With its dedicated storefront configuration, the space may be suited for established retail operations or adaptive retail uses consistent with a buyer’s plans.
The property’s lot and building size provide a straightforward footprint for prospective buyers evaluating a compact retail investment or an owner-occupied storefront.
Key Highlights
- Year built: 1947
- Roof material: asphalt
- Includes a basement
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
$13,045
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
5.93%
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%
$260,900
$260.9K
Cap Rate 7%
$186,357
$186.4K
Cap Rate 9%
$144,944
$144.9K
Market Conditions
NOI Build-Up for 1,071 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
$19.5K $18.24/SF
− Vacancy
−$899 −$0.84/SF
EGI
$18.6K $17.40/SF
− OpEx
−$5.6K −$5.22/SF
NOI
$13.0K $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%
$260,900
Cap Rate 7%
$186,357
Cap Rate 9%
$144,944
Alternative Uses
Best Use
Retail
$186.4K
$163.1K – $217.4K
NOI $13,045 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$239.6K
$209.7K – $279.6K
NOI $16,775 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
31k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Tidal Wave Auto Spa
Shops & Services
12,288 visits/mo
0.4 miles
Shell
Shops & Services
10,886 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
5,037 visits/mo
0.5 miles
Citgo
Shops & Services
1,750 visits/mo
0.3 miles
Extra Space Storage
Shops & Services
694 visits/mo
0.5 miles
Demographics for 31909, GA
38,760
Population
17,486
Households
2.2
Avg Household Size
35
Median Age
38%
College-Educated
91%
High-School Grad
18.7 sq mi
ZIP Area
2,073
Density / Sq Mi
$69,221
Median Household Income
$44,029
Median Earnings
$1,271
Median Rent
$205,800
Median Home Value
Market
Vacancy Rate% for Retail 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?
Storefront property - For-sale retail storefront on Miller Road in Columbus with 1,071 square feet of space on 0.48 acres.
Where is this storefront property located?
The property is located at 4818 Miller Road Columbus, GA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Year built: 1947; Roof material: asphalt; Includes a basement
