Multi-Tenant Office
For Sale
$1,500,000
5651 Whitesville Road Columbus, Columbus, GA 31904
Multi-tenant office building with eight suites on 0.95 acres, seven currently occupied, and leases with rent escalations.
Property Size8,640 SF
Lot Size0.95 Acres
Price / SF$173.61
Days on Market53
Property Features for 5651 Whitesville Road Columbus
General Information
Standard status
Active
Size
8,640 SF
Lot size
0.95 Acres
Property subtype
Commercial
Zoning
RO
Occupancy
88%
Additional Details
Office Units
8
Amenities
Public Records
Building Details
Building Size
8,640 SF
Year Built
1983
Buildings
1
Units
8
Tenancy
Multi
Listing Agency:
(706) 742-6127
Listed By:
Dionne Short
(706) 742-6127
Source:
Nhires
Added: Jul 10
Changed: Aug 26
Last Checked: Aug 30 at 1:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dionne Short
Investment Insights
Based on property information with market context.
5651 Whitesville Road offers a multi-tenant office building totaling approximately 8,640 SF, set on approximately 0.95 acres. The property is divided into eight office suites, with seven currently occupied and one suite available for lease-up. Existing leases include rent escalations, providing built-in income growth over time.
The building is located in an established commercial area with convenient access to nearby retail, restaurants, and professional services. The tenant mix is diversified, and the current occupancy provides ongoing rental income.
Prospective buyers should plan for a tour with the listing agent, and please do not disturb tenants.
The building is located in an established commercial area with convenient access to nearby retail, restaurants, and professional services. The tenant mix is diversified, and the current occupancy provides ongoing rental income.
Prospective buyers should plan for a tour with the listing agent, and please do not disturb tenants.
Key Highlights
- Multi‑tenant office building totaling +/- 8,640 SF on +/- 0.95 acres in Columbus, GA
- 8 office suites, with 7 currently occupied for immediate rental income
- Remaining suite offers lease‑up upside
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
$101,638
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
6.78%
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%
$2,032,760
$2.0M
Cap Rate 7%
$1,451,971
$1.5M
Cap Rate 9%
$1,129,311
$1.1M
Market Conditions
NOI Build-Up for 8,640 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
$146.2K $16.92/SF
− Vacancy
−$10.7K −$1.24/SF
EGI
$135.5K $15.68/SF
− OpEx
−$33.9K −$3.92/SF
NOI
$101.6K $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%
$2,032,760
Cap Rate 7%
$1,451,971
Cap Rate 9%
$1,129,311
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,638 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.26M
NOI $135,325 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
87.5%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,209
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building with eight suites on 0.95 acres, seven currently occupied, and leases with rent escalations.
Where is this office building located?
The property is located at 5651 Whitesville Road Columbus Columbus, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Multi‑tenant office building totaling +/- 8,640 SF on +/- 0.95 acres in Columbus, GA; 8 office suites, with 7 currently occupied for immediate rental income; Remaining suite offers lease‑up upside
