Columbus Office/Medical Property For
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802 22nd St, Columbus, GA 31904
3,367 SF building suitable for office or medical use.
Property Size3,367 SF
Price / SF$171.96
Days on Market461
Property Features for 802 22nd St
General Information
Standard status
Active
Size
3,367 SF
Property subtype
Office
Zoning
RO
Building Details
Year Built
1990
Units
1
Listing Agency:
Coldwell Banker Commercial Kennon, Parker,Duncan & Davis Columbus
(706) 289-2468
Listed By:
Carson Cummings · License #GA
Source:
Crexi
Added: May 29, 2025
Changed: Aug 26
Last Checked: Aug 31 at 12:23AM
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 Coldwell Banker Commercial Kennon, Parker,Duncan & Davis Columbus
Investment Insights
Based on property information with market context.
Located at 802 22nd Street in Columbus, Georgia, this commercial property features a 3,367 square foot building constructed in 1990. The property is suitable for office or medical use, configured as a single unit. It is zoned RO, presenting an investment opportunity for establishing or expanding a business.
Key Highlights
- 3,367 SF building suitable for office or medical use.
- Strategic location for business establishment or expansion.
- Zoned RO, offering investment potential.
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
$39,608
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
6.84%
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%
$792,160
$792.2K
Cap Rate 7%
$565,829
$565.8K
Cap Rate 9%
$440,089
$440.1K
Market Conditions
NOI Build-Up for 3,367 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
$57.0K $16.92/SF
− Vacancy
−$4.2K −$1.24/SF
EGI
$52.8K $15.68/SF
− OpEx
−$13.2K −$3.92/SF
NOI
$39.6K $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%
$792,160
Cap Rate 7%
$565,829
Cap Rate 9%
$440,089
Alternative Uses
Best Use
Office B
$565.8K
$495.1K – $660.1K
NOI $39,608 @ 7.0% cap · market cap 6.84%
Second Best
Healthcare Medical
$565.0K
$494.4K – $659.2K
NOI $39,552 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$753.4K
$659.2K – $878.9K
NOI $52,736 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,832
Businesses Nearby
Under-served
Demand for This Use
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?
Medical Office Space - 3,367 SF building suitable for office or medical use.
Where is this medical office space located?
The property is located at 802 22nd St Columbus, GA.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 3,367 SF building suitable for office or medical use.; Strategic location for business establishment or expansion.; Zoned RO, offering investment potential.
