Mixed-Use Portfolio with 11
For Sale
Contact for pricing
933 Fort Benning Rd, Columbus, GA 31903
Two parcels combine neighborhood retail, apartments, and a freestanding commercial building.
Property Size7,497 SF
Price / SF$106.58
Days on Market150
Property Features for 933 Fort Benning Rd
General Information
Standard status
Active
Size
7,497 SF
Property subtype
Multifamily, Retail
Zoning
GC
Lease Type
Modified Gross
Investment Type
Value Add
Building Details
Year Built
1970
Year Renovated
2024
Buildings
3
Stories
1
Units
6
Tenancy
Multi
Listing Agency:
Jefcoat Real Estate Services, LLC
(404) 782-4197
Listed By:
Alissa Neal · License #418987
Source:
Crexi
Added: Apr 3
Changed: Aug 29
Last Checked: Aug 29 at 7:07PM
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 Jefcoat Real Estate Services, LLC
Investment Insights
Based on property information with market context.
This two-parcel mixed-use portfolio in Columbus, Georgia brings together neighborhood retail, multifamily housing, and a separate commercial improvement. The retail component is a 7,497 SF strip center with long-term retail tenants and vacant suites. The second parcel includes an 11-unit apartment building along with a ±1,000 SF freestanding commercial building.
The property is zoned GC and was built in 1970. Existing income is diversified across retail and apartment uses, while the vacant retail suites and freestanding building provide additional leasing opportunities. The apartment component also offers an opportunity to increase rents over time, subject to market conditions.
The property is zoned GC and was built in 1970. Existing income is diversified across retail and apartment uses, while the vacant retail suites and freestanding building provide additional leasing opportunities. The apartment component also offers an opportunity to increase rents over time, subject to market conditions.
Key Highlights
- Two‑parcel mixed‑use portfolio in Columbus, Georgia
- 7,497 SF neighborhood retail strip center
- 11‑unit apartment building on the second parcel
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
$60,143
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
7.53%
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%
$1,202,860
$1.2M
Cap Rate 7%
$859,186
$859.2K
Cap Rate 9%
$668,256
$668.3K
Market Conditions
NOI Build-Up for 7,497 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
$117.0K $15.60/SF
− Vacancy
−$7.6K −$1.01/SF
EGI
$109.4K $14.59/SF
− OpEx
−$49.2K −$6.56/SF
NOI
$60.1K $8.02/SF
Area
Columbus, GA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$1,202,860
Cap Rate 7%
$859,186
Cap Rate 9%
$668,256
Alternative Uses
Best Use
Retail
$1.30M
$1.14M – $1.52M
NOI $91,318 @ 7.0% cap · market cap 11.43%
Second Best
Mixed Use
$1.23M
$1.07M – $1.43M
NOI $85,758 @ 7.0% cap · market cap 10.73%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,422 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Explore this area
Business Placement
Demographics for 31903, GA
20,703
Population
9,593
Households
2.2
Avg Household Size
34
Median Age
8%
College-Educated
76%
High-School Grad
10.0 sq mi
ZIP Area
2,070
Density / Sq Mi
$29,488
Median Household Income
$27,063
Median Earnings
$873
Median Rent
$75,500
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?
Mixed-use property - Two parcels combine neighborhood retail, apartments, and a freestanding commercial building.
Where is this mixed-use property located?
The property is located at 933 Fort Benning Rd Columbus, GA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑parcel mixed‑use portfolio in Columbus, Georgia; 7,497 SF neighborhood retail strip center; 11‑unit apartment building on the second parcel
