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    The Largest CRE Database in the US with Over 1 Million Listings

    2901 University Ave Columbus, GA 31907

    Sponsored
    For Lease
    $13 SF/Yr

    Columbus, GA Neighborhood Center - Retail Space Available

    Lot size:
    36,072 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    416
    Mission Square, a vibrant neighborhood center in Columbus, Georgia, presents a compelling investment opportunity. This Class B property, built in 1987, boasts a total of 36,072 square feet across one, two-story building with 42 suites. Located at 2901 University Ave, near the intersection of Edgewood Road, its prime location along a busy thoroughfare between Manchester Expressway and Macon Road ensures high visibility and accessibility. The center benefits from its proximity to Columbus State University, attracting a steady stream of students and faculty. The property is zoned GC and features a diverse tenant mix, including restaurants, salons, and professional/educational services. Individual suites range from a minimum of 800 square feet to a maximum contiguous space of 1,602 square feet, offering flexibility for various business needs. The property includes elevators for convenient access to both floors. With its established tenant base and strategic location, Mission Square offers a strong foundation for future growth and profitability. The property's APN is 068 040 005 016, situated within the CBD submarket of Muscogee County. This is an exceptional opportunity to acquire a well-positioned retail center in a thriving area of Columbus, Georgia. The property's central location and diverse tenant mix make it an attractive investment for those seeking a stable and growing retail portfolio.

    Property Features for 2901 University Ave

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    36,072 SF
    Class
    B
    Total Rate
    40761.36

    Building Details

    Year Built
    1987
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Suite 2
    Size
    800 SF
    Rate per SF
    $20
    Space
    Suite 10
    Size
    800 SF
    Rate per SF
    $19
    Space
    Suite 41
    Size
    800 SF
    Rate per SF
    $15
    Space
    Suite 37
    Size
    1,600 SF
    Rate per SF
    $13

    We can help!

    Listing Contact
    Amy Gill
    Amy Gill

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Lasseter Academy Tutoring Service DMS Mortgage Co Mortgage Lender Better Jewelers Jewelry Store Receivable Management Group Financial Institution Baltimore Peggy S Doctor

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Muscogee
    State
    Georgia
    Longitude
    -84.93269799
    Latitude
    32.49163552

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    FAQs

    What type of property is this?
    Neighborhood center - Columbus, GA Neighborhood Center - Retail Space Available
    Where is this neighborhood center located?
    The property is located at 2901 University Ave Columbus, GA.
    What is the lease rate?
    The lease rate is $13-$20 SF/Yr.
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    2901 University Ave Columbus, GA 31907
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    Columbus, GA 31907
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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.

    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
    2901 University Ave Columbus, GA 31907
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    We can help!
    Listing Contact
    Amy Gill
    Amy Gill
    Real Estate License ID: 381793
    Learn more
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