Three-Bay Auto
For Sale
$305,000
Pending
4922 Veterans Parkway, Columbus, GA 31904
Commercial Sale, Columbus, GA
Property Size2,910 SF
Lot Size0.34 Acres
Days on Market50
Property Features for 4922 Veterans Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Directions
North On Veterans, Right On 50th St.
Subdivision
Muscogee
Standard status
Pending
APN
032008006
Size
2,910 SF
Lot size
0.34 Acres
Amenities
offices
bathrooms
Building Details
Year built
1993
Number of units
1
Listing Agency:
Flournoy & Calhoun REALTORS
(706) 327-1990
Listed By:
Thomas Calhoun
(706) 366-3231
Added: Jul 14
Changed: Aug 27
Last Checked: Sep 1 at 6:06AM
MLS# 232996
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 auto-service property includes a 2,910-square-foot garage configured with three service bays, two offices, and two bathrooms. Built in 1993, the improvements occupy an approximately 0.34-acre parcel and provide a practical layout for automotive operations or related commercial use. Two drive-on lifts and one scissor lift may also be purchased separately from the seller.
The property is located at 4922 Veterans Parkway in Columbus, Georgia, with 150 feet of road frontage along Veterans Parkway. Traffic can access the site from both Veterans Parkway and 15th Avenue, providing multiple points of entry and exit.
The property is located at 4922 Veterans Parkway in Columbus, Georgia, with 150 feet of road frontage along Veterans Parkway. Traffic can access the site from both Veterans Parkway and 15th Avenue, providing multiple points of entry and exit.
Key Highlights
- 2,910‑square‑foot garage on approximately 0.34 acres
- Three service bays, two offices, and two bathrooms
- 150 feet of road frontage on Veterans Parkway
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
$12,944
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
4.24%
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%
$258,880
$258.9K
Cap Rate 7%
$184,914
$184.9K
Cap Rate 9%
$143,822
$143.8K
Market Conditions
NOI Build-Up for 2,910 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
$19.9K $6.84/SF
− Vacancy
−$1.4K −$0.49/SF
EGI
$18.5K $6.35/SF
− OpEx
−$5.5K −$1.91/SF
NOI
$12.9K $4.45/SF
Area
Columbus, GA
Vacancy
7.10%
Lease Rate
$6.84 /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%
$258,880
Cap Rate 7%
$184,914
Cap Rate 9%
$143,822
Alternative Uses
Best Use
Retail
$506.4K
$443.1K – $590.8K
NOI $35,446 @ 7.0% cap · market cap 11.62%
Second Best
Industrial
$184.9K
$161.8K – $215.7K
NOI $12,944 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$651.1K
$569.7K – $759.6K
NOI $45,578 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
974
Businesses Nearby
179k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Groceries 24%
Shops & Services 20%
Walmart Neighborhood Market
Groceries
42,163 visits/mo
0.5 miles
McDonald's
Dining
25,264 visits/mo
0.3 miles
Starbucks
Dining
19,090 visits/mo
0.4 miles
Circle K
Shops & Services
15,397 visits/mo
0.4 miles
Burger King
Dining
13,097 visits/mo
0.4 miles
Demographics for 31904, GA
36,947
Population
15,947
Households
2.3
Avg Household Size
39
Median Age
31%
College-Educated
88%
High-School Grad
27.5 sq mi
ZIP Area
1,344
Density / Sq Mi
$65,625
Median Household Income
$42,573
Median Earnings
$1,036
Median Rent
$216,100
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?
Auto shop - Garage property with office and bathroom space, plus entry and exit options from Veterans Parkway and 15th Avenue.
Where is this auto shop located?
The property is located at 4922 Veterans Parkway Columbus, GA.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 2,910‑square‑foot garage on approximately 0.34 acres; Three service bays, two offices, and two bathrooms; 150 feet of road frontage on Veterans Parkway
