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    3049 Victory Dr Columbus, GA 31903

    Sponsored
    For Sale
    $94,500

    0.57-Acre Commercial Lot, High Visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This 0.57-acre commercial lot, located at 3049 Victory Drive in Columbus, Georgia (APN 043 002 005), is zoned GC, offering versatile development potential. Priced at $94,500, this property boasts a prime location in a thriving area, providing high visibility and convenient access to the National Infantry Museum, Columbus State University, and the RiverCenter for the Performing Arts. The existing paved parking area and sign structure are valuable assets. Currently leased, generating potential annual revenue of $10,200, the lease can be continued or terminated with 30 days' notice. The property's adaptable zoning accommodates a wide range of business concepts, making it an ideal investment opportunity for land and office developers. The sale excludes any existing buildings. This exceptional location blends residential and commercial spaces, ensuring strong potential for future growth and return on investment. The property's strategic positioning on Victory Drive ensures maximum exposure to a high volume of traffic. This is a rare opportunity to acquire a well-situated commercial lot in a rapidly developing area of Columbus, Georgia.

    Property Features for 3049 Victory Dr

    General Information

    Property type
    Land
    Lot Size
    24,829 SF

    HighLights

    • $94,500 asking price for 0.57 acres of commercial land.
    • GC zoning allows for versatile commercial uses.
    • Located in Columbus, GA, on Victory Drive, offering high visibility.
    • Potential lease revenue of $10,200 annually (current lease can be continued or terminated with 30 days' notice).
    • Property includes a paved parking area and sign structure; building not included.
    Property Profile Location Intelligence

    Current Use by Public Records

    Reddi Tax Tax Preparation

    Suggested Use

    Realty agency Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Muscogee
    State
    Georgia
    Longitude
    -84.958949000859
    Latitude
    32.436628989226

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    FAQs

    What type of property is this?
    Land - 0.57-Acre Commercial Lot, High Visibility
    Where is this land located?
    The property is located at 3049 Victory Dr Columbus, GA.
    What is the asking price?
    The asking price for this property is $94,500.
    What are key features of this property?
    This property features: $94,500 asking price for 0.57 acres of commercial land.; GC zoning allows for versatile commercial uses.; Located in Columbus, GA, on Victory Drive, offering high visibility.
    (706) 660-5418
    Request Owner's contact information
    3049 Victory Dr Columbus, GA 31903
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    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.

    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
    3049 Victory Dr Columbus, GA 31903
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