Brick Office
For Sale
$225,000
5213 Armour Road, Columbus, GA 31904
Commercial Sale, Columbus, GA
Property Size1,293 SF
Lot Size0.24 Acres
Price / SF$174.01
Days on Market258
Property Features for 5213 Armour Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Veterans Parkway Turn Right Onto Manchester Expressway Heading East. Turn Left Onto Armour Road, Destination On The Left.
Subdivision
Muscogee
Standard status
Active
APN
070 030 005
Size
1,293 SF
Lot size
0.24 Acres
Building Details
Year built
1955
Number of units
1
Building materials
Brick
Listing Agency:
Jefcoat Real Estate Services, LLC
(706) 888-1614
Listed By:
Daniel Lowery · License #407092
(706) 681-0026
Added: Dec 16, 2025
Changed: Aug 27
Last Checked: Aug 31 at 6:06AM
MLS# 218314
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 office property provides 1,293 square feet of commercial space within a brick building constructed in 1955. The parcel encompasses 0.24 acres and is located at 5213 Armour Road in Columbus, Georgia.
The property is situated in Muscogee County, with a 31904 postal designation. Its office classification supports evaluation by businesses seeking an existing commercial workspace rather than undeveloped land.
The property is situated in Muscogee County, with a 31904 postal designation. Its office classification supports evaluation by businesses seeking an existing commercial workspace rather than undeveloped land.
Key Highlights
- 1,293 square feet of office space
- 0.24‑acre parcel
- Brick construction
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
$15,210
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
6.76%
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%
$304,200
$304.2K
Cap Rate 7%
$217,286
$217.3K
Cap Rate 9%
$169,000
$169.0K
Market Conditions
NOI Build-Up for 1,293 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
$21.9K $16.92/SF
− Vacancy
−$1.6K −$1.24/SF
EGI
$20.3K $15.68/SF
− OpEx
−$5.1K −$3.92/SF
NOI
$15.2K $11.76/SF
Area
Columbus, GA
Vacancy
7.30%
Lease Rate
$16.92 /SF/Yr
Expense Ratio
25.00%
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%
$304,200
Cap Rate 7%
$217,286
Cap Rate 9%
$169,000
Alternative Uses
Best Use
Office B
$217.3K
$190.1K – $253.5K
NOI $15,210 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$289.3K
$253.2K – $337.5K
NOI $20,252 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial office space with brick construction and an established 1955 building date.
Where is this office units located?
The property is located at 5213 Armour Road Columbus, GA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,293 square feet of office space; 0.24‑acre parcel; Brick construction
