Turnkey Medical Office
For Sale
$1,350,000
6480 Milgen Road Columbus, Columbus, GA 31907
Fully renovated medical office building with flexible configurations for one user or two medical practices.
Property Size6,208 SF
Price / SF$217.46
Days on Market67
Property Features for 6480 Milgen Road Columbus
General Information
Standard status
Active
Size
6,208 SF
Property subtype
Commercial
Zoning
GC
Amenities
Public Records
Building Details
Building Size
6,208 SF
Year Built
2002
Buildings
1
Units
1
Listed By:
Felecia Saunders
(706) 742-6127
Source:
Nhires
Added: Jul 1
Changed: Aug 23
Last Checked: Sep 5 at 3:38AM
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 Felecia Saunders
Investment Insights
Based on property information with market context.
This fully renovated, turnkey medical office building was redeveloped from a former Synovus Bank branch and is designed for flexible use as either a single-user medical practice or two separate medical practices. Ownership will deliver the space turnkey, with the ability to customize the layout and finishes without the time and cost associated with ground-up construction.
The improvements include removal of the existing drive-thru and expanded parking intended to support patient flow. The property is marketed for healthcare use in the rapidly growing Midland (NE Columbus) area, with convenient access and visibility noted in the offering materials.
As a medical office conversion with updated interior readiness, the building is positioned to accommodate a range of operational configurations for medical tenants seeking an established, renovated facility.
The improvements include removal of the existing drive-thru and expanded parking intended to support patient flow. The property is marketed for healthcare use in the rapidly growing Midland (NE Columbus) area, with convenient access and visibility noted in the offering materials.
As a medical office conversion with updated interior readiness, the building is positioned to accommodate a range of operational configurations for medical tenants seeking an established, renovated facility.
Key Highlights
- Fully renovated medical office building redeveloped from a former Synovus Bank branch
- Flexible configuration for a single user or two medical practices
- Year built: 2002
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
$73,029
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
5.41%
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%
$1,460,580
$1.5M
Cap Rate 7%
$1,043,271
$1.0M
Cap Rate 9%
$811,433
$811.4K
Market Conditions
NOI Build-Up for 6,208 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
$105.0K $16.92/SF
− Vacancy
−$7.7K −$1.24/SF
EGI
$97.4K $15.68/SF
− OpEx
−$24.3K −$3.92/SF
NOI
$73.0K $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%
$1,460,580
Cap Rate 7%
$1,043,271
Cap Rate 9%
$811,433
Alternative Uses
Best Use
Office B
$1.04M
$912.9K – $1.22M
NOI $73,029 @ 7.0% cap · market cap 5.41%
Second Best
Healthcare Medical
$1.04M
$911.6K – $1.22M
NOI $72,925 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,233 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 31907, GA
60,557
Population
25,710
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
91%
High-School Grad
23.8 sq mi
ZIP Area
2,544
Density / Sq Mi
$52,620
Median Household Income
$33,726
Median Earnings
$1,103
Median Rent
$142,000
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully renovated medical office building with flexible configurations for one user or two medical practices.
Where is this medical office space located?
The property is located at 6480 Milgen Road Columbus Columbus, GA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Fully renovated medical office building redeveloped from a former Synovus Bank branch; Flexible configuration for a single user or two medical practices; Year built: 2002
