Multi-Level Flex
For Sale
$975,000
Pending
5870 Veterans Parkway, Columbus, GA 31909
Commercial Sale, Columbus, GA
Property Size4,981 SF
Lot Size0.19 Acres
Days on Market344
Property Features for 5870 Veterans Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Parking
20
Lot features
Sidewalks, Shopping Center
Directions
From Manchester Expressway, Trvel North On Veterans Pkwy. Property Is Located In A Shopping Center At The Intersection Of Veterans & W. Britt David Road
Subdivision
Muscogee
Standard status
Pending
APN
189 020 005 A#
Size
4,981 SF
Lot size
0.19 Acres
Utilities
Utilities
Water Available
Heating system
Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
1998
Floors in Building
2
Number of units
1
Flooring type
Carpet, Concrete
Building materials
Block
Listing Agency:
Keller Williams Realty River Cities
(706) 221-6900
Listed By:
Lamar Fields · License #266466
(706) 221-6900
Added: Sep 22, 2025
Changed: Aug 27
Last Checked: Aug 31 at 4:06AM
MLS# 222267
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 4,981-square-foot flex property, built in 1998, combines retail, office, training, reception, and storage functions across two levels. The main floor includes a showroom or storefront area, three office or training rooms, two restrooms, and multiple storage areas. The upper level adds two more office or training rooms along with substantial storage space that can be converted into additional office area. Block construction, carpet and concrete flooring, electric heating, central air, and electric cooling serve the building. The property occupies 0.19 acres and carries GC zoning.
Positioned off Veterans Parkway in a commercial shopping center, the property benefits from exposure to a roadway with more than 24,000 cars passing daily. Parking is available for staff and visitors, and water is available at the site.
Positioned off Veterans Parkway in a commercial shopping center, the property benefits from exposure to a roadway with more than 24,000 cars passing daily. Parking is available for staff and visitors, and water is available at the site.
Key Highlights
- 4,981‑square‑foot flex property on 0.19 acres
- GC zoning with retail, office, training, reception, and storage areas
- Two‑level layout with five office or training rooms
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
$60,672
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
6.22%
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%
$1,213,440
$1.2M
Cap Rate 7%
$866,743
$866.7K
Cap Rate 9%
$674,133
$674.1K
Market Conditions
NOI Build-Up for 4,981 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
$90.9K $18.24/SF
− Vacancy
−$4.2K −$0.84/SF
EGI
$86.7K $17.40/SF
− OpEx
−$26.0K −$5.22/SF
NOI
$60.7K $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%
$1,213,440
Cap Rate 7%
$866,743
Cap Rate 9%
$674,133
Alternative Uses
Best Use
Retail
$866.7K
$758.4K – $1.01M
NOI $60,672 @ 7.0% cap · market cap 6.22%
Second Best
Office B
$837.1K
$732.4K – $976.6K
NOI $58,595 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$1.11M
$975.2K – $1.30M
NOI $78,015 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,553
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Firehouse Subs Columbus Park — 2501 Whittlesey Blvd Ste H, Columbus, GA 31909
- Graze Craze Charcuterie Boards & Boxes — 6298 Veterans Pkwy Suite 3H, Columbus, GA 31909
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial layout combines showroom, offices, training rooms, restrooms, and storage within a shopping center setting.
Where is this flex space located?
The property is located at 5870 Veterans Parkway Columbus, GA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 4,981‑square‑foot flex property on 0.19 acres; GC zoning with retail, office, training, reception, and storage areas; Two‑level layout with five office or training rooms
