Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    708 23Rd St Columbus, GA 31904

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Commercial Land, Columbus, GA

    Property Features for 708 23Rd St

    General Information

    Property type
    Land
    Lot Size
    7,841 SF

    We can help!

    Listing Contact
    David C. Johnson
    David C. Johnson

    Listing Agent: David C. Johnson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional portfolio offers four distinct land parcels in Columbus, Georgia, ideal for various commercial ventures. The properties are strategically located near Veterans Parkway, ensuring high visibility and accessibility. Three parcels, situated on 20th Street, are zoned RMF2 (Residential Multi-Family 2), each spanning 0.18 acres and priced at $35,000. These lots present excellent opportunities for multi-family residential development. A fourth parcel, located on 5th Avenue, encompasses 0.68 acres and is zoned RO (Residential Office), priced at $125,000. This larger lot is suitable for a range of office or mixed-use projects. All parcels are individually available for purchase, or the entire portfolio can be acquired for a combined price. The properties boast convenient access to major thoroughfares and are in close proximity to established medical facilities, including pediatric clinics. Detailed information on individual parcel sizes, zoning, and tax IDs (016 005 001, 016 024 005, 016 024 006, 016 024 003) is available upon request. This presents a unique investment opportunity in a thriving Columbus, GA market. The addresses are 708 23rd St, 518 20th St, 510 20th St, and 1924 5th Ave, all in Muscogee County, GA 31904. The combined purchase price for parcels 2, 3, and 4 is $195,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Muscogee
    State
    Georgia
    Longitude
    -84.98286658
    Latitude
    32.48561222

    Nearby Similar for Sale

    • $172,500
      1,783 SF

      Commercial Property with Warehouse in Columbus

      Mixed-use property featuring a home and warehouse on a fenced lot.
      3609 Hamilton Rd, Columbus, GA 31904
      View Details
    • $230,000
      2,519 SF

      Turnkey Multifamily Investment Opportunity

      Four income-generating units with immediate cash flow in Columbus, GA.
      911 Lamore St, Columbus, GA 31907
      View Details
    • $1,150,000
      5,936 SF

      Columbus Office Building on 1.61 Acres

      Free-standing 5936 SF office building in prime commercial area.
      6480 Milgen Rd, Columbus, GA 31907
      View Details
    • $899,000
      4,242 SF

      Updated Office Building on Acre

      Updated 4242 SF office building with ample parking.
      6410 W Hamilton Park Dr, Columbus, GA 31909
      View Details
    • New
      $259,900
      1,643 SF

      Turnkey Income Property Opportunity

      Dual living property with AirBnB and apartment in Columbus.
      3121 Bellanca St, Columbus, GA 31909
      View Details
    • $289,900
      5,400 SF

      Columbus Commercial Building For Sale

      5,400 sq ft commercial building in Columbus, Georgia.
      5251 Buena Vista Rd, Columbus, GA 31907
      View Details
    • $250,000
      2,514 SF

      Versatile Commercial Property in Columbus

      Two-lot property with three commercial structures in a desirable area.
      1124 20Th St, Columbus, GA 31901
      View Details
    • $425,000
      Pending

      Columbus Retail Opportunity For Sale

      Retail property in Columbus, GA, ideal for commercial ventures.
      1402 2Nd Ave, Columbus, GA 31901
      View Details
    • New
      $159,000
      Pending

      High Visibility Commercial Opportunity

      Ready-to-operate commercial space with high traffic and income potential.
      3980 Veterans Pkwy, Columbus, GA 31904
      View Details
    • $519,000
      5,532 SF

      Midland Quadplex with Updated Units

      All-brick quadruplex in Midland, Columbus, featuring updated apartment units.
      7101 Cross Tie Dr, Columbus, GA 31909
      View Details
    • New
      $235,000
      2,372 SF

      East Highland Triplex Investment Opportunity

      Triplex in East Highland with income and renovation potential.
      1345 18Th St, Columbus, GA 31901
      View Details
    • $152,500
      1,839 SF

      Midtown Duplex with Seller Financing

      Value-add duplex in prime location with flexible financing options.
      1116 18Th St, Columbus, GA 31901
      View Details

    FAQs

    What type of property is this?
    Land - Prime Commercial Land, Columbus, GA
    Where is this land located?
    The property is located at 708 23Rd St Columbus, GA.
    What are key features of this property?
    This property features: Four separate land parcels available for purchase.; Two lots zoned RO located at 708 23rd Street and 1924 5th Avenue.; Two lots zoned RMF2 situated at 518 and 510 20th Street.
    (706) 577-2398 Call to check price and availability
    Request Owner's contact information
    708 23Rd St Columbus, GA 31904
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    708 23Rd St
    Columbus, GA 31904
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    708 23Rd St Columbus, GA 31904
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David C. Johnson
    David C. Johnson
    Real Estate License ID: #175456
    (706) 577-2398 (623) 344-8000 (706) 660-5418
    Learn more
    Google sign-in failed. Please try again or use another login method.