Upscale Mixed-Use Condos For
For Sale
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6801 River Rd Condo 5, Columbus, GA 31904
Shell condition condos in upscale North Columbus mixed-use development.
Property Size1,514 SF
Price / SF$170.01
Days on Market794
Property Features for 6801 River Rd Condo 5
General Information
Standard status
Active
Size
1,514 SF
Class
A
Property subtype
Mixed Use, Multifamily, Office, Retail
Investment Type
Owner/User
Building Details
Year Built
2024
Stories
2
Units
6
Listing Agency:
SVN Fall Line Commercial Advisors
(706) 566-9135
Listed By:
Franklin Harcourt · License #343941
Source:
Crexi
Added: Jun 21, 2024
Changed: Aug 23
Last Checked: Aug 14 at 7:21AM
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 SVN Fall Line Commercial Advisors
Investment Insights
Based on property information with market context.
Located in North Columbus, The Village at Green Island is an upscale mixed-use development featuring office and retail spaces. The condos, situated on the second floor above Class A office tenants, are available for sale in shell condition, allowing buyers to customize the space using approved general contractors. This Class A property offers a range of amenities for professionals and retail customers. Currently, the development includes medical offices, a pharmacy, a bank, and a dry cleaner. Future expansions are under construction, with plans for additional offices, a hair salon, a restaurant/bar, a market, and a garden nursery. The property is conveniently located minutes from schools, shopping centers, Green Island Country Club, VA Hospital, and major transportation routes such as US Highway 80 and Interstate 185. Its proximity to Atlanta Airport, approximately a 1.5-hour drive away, enhances accessibility for travelers and clients. The available condos offer 1514 square feet of space.
Key Highlights
- Upscale office and retail development in a prime North Columbus location.
- Shell condition condos offer a 'clean slate' for custom design with approved contractors.
- Located above Class A office space with existing tenants including medical offices, pharmacy, bank, and dry cleaner.
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
$17,319
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
6.73%
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%
$346,380
$346.4K
Cap Rate 7%
$247,414
$247.4K
Cap Rate 9%
$192,433
$192.4K
Market Conditions
NOI Build-Up for 1,514 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
$29.8K $19.68/SF
− Vacancy
−$2.1K −$1.38/SF
EGI
$27.7K $18.30/SF
− OpEx
−$10.4K −$6.86/SF
NOI
$17.3K $11.44/SF
Area
Columbus, GA
Vacancy
7.00%
Lease Rate
$19.68 /SF/Yr
Expense Ratio
37.50%
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%
$346,380
Cap Rate 7%
$247,414
Cap Rate 9%
$192,433
Alternative Uses
Best Use
Mixed Use
$247.4K
$216.5K – $288.7K
NOI $17,319 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$338.8K
$296.4K – $395.2K
NOI $23,713 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
89
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Shell condition condos in upscale North Columbus mixed-use development.
Where is this mixed-use property located?
The property is located at 6801 River Rd Condo 5 Columbus, GA.
What is the asking price?
The asking price for this property is $257,400.
What are key features of this property?
This property features: Upscale office and retail development in a prime North Columbus location.; Shell condition condos offer a 'clean slate' for custom design with approved contractors.; Located above Class A office space with existing tenants including medical offices, pharmacy, bank, and dry cleaner.
