Historic Three-Unit
For Sale
$795,000
715 Broadway, Columbus, GA 31901
MULTI_FAMILY - Columbus, GA
Property Size3,915 SF
Lot Size0.15 Acres
Price / SF$203.07
Days on Market52
Property Features for 715 Broadway
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 3, Bathroom 1, Bathroom 3
Parking features
Driveway, On Street
Appliances
Dishwasher, Range, Refrigerator
Subdivision
Historic District
Lot features
Less than 1/2 Acre
Directions
13th Street To Broadway. House Is On The Right.
Standard status
Active
APN
003 015 007
Size
3,915 SF
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
fireplaces
laundry
off-street parking
detached storage
front porch
Building Details
Year built
1926
Number of units
3
Flooring type
Hardwood
Building materials
Frame
Listing Agency:
Keller Williams Realty River Cities
(706) 221-6900
Listed By:
Kim Mixon · License #000077807-0
(706) 332-6349
Added: Jun 24
Changed: Aug 13
Last Checked: Aug 14 at 7:06AM
MLS# 228129
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 3,915-square-foot triplex occupies a 0.15-acre parcel in Columbus’ Historic District. The main-level residence contains 1,979 square feet with two bedrooms, two bathrooms, a living room, formal dining room, kitchen, breakfast area, and an ensuite bedroom. Two separate upper-level apartments add 852 square feet and 1,084 square feet. The front apartment includes one bedroom, one bathroom, a living area, and kitchen, while the rear apartment provides two bedrooms, one bathroom, a kitchen, and a sunroom-style living area.
Interior details include original hardwood floors, millwork, high ceilings, large windows, solid wood pocket doors, and decorative fireplaces. The property also offers a front porch, driveway and on-street parking, detached storage, updated windows, a roof installed in 2024, and exterior paint completed in 2025. Public water and sewer serve the property, with one gas, power, and water meter.
The address is on Broadway, within walking distance of Uptown dining, shopping, RiverWalk, and entertainment. The existing triplex configuration supports continued multifamily use, while the main-level layout also provides a basis for single-residence conversion.
Interior details include original hardwood floors, millwork, high ceilings, large windows, solid wood pocket doors, and decorative fireplaces. The property also offers a front porch, driveway and on-street parking, detached storage, updated windows, a roof installed in 2024, and exterior paint completed in 2025. Public water and sewer serve the property, with one gas, power, and water meter.
The address is on Broadway, within walking distance of Uptown dining, shopping, RiverWalk, and entertainment. The existing triplex configuration supports continued multifamily use, while the main-level layout also provides a basis for single-residence conversion.
Key Highlights
- 3,915 SF triplex on a 0.15‑acre parcel
- Three distinct residential units with a combined five bedrooms and four bathrooms
- Main‑level 1,979 SF residence plus 852 SF and 1,084 SF upper units
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
$35,485
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
4.46%
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%
$709,700
$709.7K
Cap Rate 7%
$506,929
$506.9K
Cap Rate 9%
$394,278
$394.3K
Market Conditions
NOI Build-Up for 3,915 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
$54.0K $13.80/SF
− Vacancy
−$3.3K −$0.85/SF
EGI
$50.7K $12.95/SF
− OpEx
−$15.2K −$3.88/SF
NOI
$35.5K $9.06/SF
Area
Columbus, GA
Vacancy
6.17%
Lease Rate
$13.80 /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%
$709,700
Cap Rate 7%
$506,929
Cap Rate 9%
$394,278
Alternative Uses
Best Use
Multifamily LT 5
$506.9K
$443.6K – $591.4K
NOI $35,485 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$448.7K
$392.6K – $523.5K
NOI $31,407 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$876.0K
$766.5K – $1.02M
NOI $61,319 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,249
Businesses Nearby
Explore this area
Business Placement
Demographics for 31901, GA
7,126
Population
3,971
Households
1.8
Avg Household Size
36
Median Age
35%
College-Educated
82%
High-School Grad
4.4 sq mi
ZIP Area
1,620
Density / Sq Mi
$47,316
Median Household Income
$35,062
Median Earnings
$893
Median Rent
$208,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Original millwork, hardwood floors, and three residential kitchens define the interior.
Where is this triplex located?
The property is located at 715 Broadway Columbus, GA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 3,915 SF triplex on a 0.15‑acre parcel; Three distinct residential units with a combined five bedrooms and four bathrooms; Main‑level 1,979 SF residence plus 852 SF and 1,084 SF upper units
