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    6801 River Rd Columbus, GA 31904

    Sponsored
    For Sale
    $257,400

    Upscale 6-unit condo, prime location

    Property size:
    1,514 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional Class A, 1,514 square foot mixed-use condominium, located at 6801 River Rd, Condo 5 in Columbus, Georgia, presents a unique owner/user investment opportunity. Priced at $257,400 ($170.01/sq ft), this 2-story, 6-unit building is situated within The Village at Green Island, an upscale development in North Columbus. Currently, the development boasts a diverse tenant mix including medical offices, a pharmacy, bank, and dry cleaner. The condo is offered in shell condition, allowing for complete customization using approved general contractors. Future expansion plans are underway, adding a hair salon, restaurant/bar, market, and garden nursery to the already vibrant community. The property enjoys unparalleled convenience, with proximity to schools, shopping, Green Island Country Club, the VA Hospital, US Highway 80, Interstate 185, and Atlanta Airport (1.5-hour drive). This presents a compelling investment opportunity in a thriving, rapidly expanding area. Built in 2024, this property offers a blend of established businesses and exciting future growth potential, making it an ideal choice for discerning investors seeking a high-return, versatile asset. The location's accessibility and the building's modern design combine to create a truly exceptional investment prospect. The zip code is 31904.

    Property Features for 6801 River Rd

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,514 SF
    Class
    A

    Building Details

    Year Built
    2024
    Stories
    2
    Units
    6

    We can help!

    Listing Contact
    Franklin Harcourt
    Franklin Harcourt

    Learn more

    Property Insight Report

    HighLights

    • $257,400 asking price for a Class A mixed‑use condominium.
    • 1,514 square feet, 6 units, in a 2‑story building.
    • Located at 6801 River Rd, Condo 5, Columbus, GA 31904.
    • Built in 2024, offering a shell condition for buyer customization.
    • Prime location near schools, shopping, Green Island Country Club, VA Hospital, US Hwy 80, I‑185, and 1.5 hours from Atlanta Airport.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sun Ray Cleaners ... Dry Cleaner dentist in Columbus, GA, ... Dentist T. Lance Collier, ... Dentist Cosby Vennis D ... Endodontist Joel Stenslie, PT Physical Therapist

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Muscogee
    State
    Georgia
    Longitude
    -84.995601113595
    Latitude
    32.545187460186

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    FAQs

    What type of property is this?
    Multifamily property - Upscale 6-unit condo, prime location
    Where is this multifamily property located?
    The property is located at 6801 River Rd Columbus, GA.
    What is the asking price?
    The asking price for this property is $257,400.
    What are key features of this property?
    This property features: $257,400 asking price for a Class A mixed-use condominium.; 1,514 square feet, 6 units, in a 2-story building.; Located at 6801 River Rd, Condo 5, Columbus, GA 31904.
    Request Owner's contact information
    6801 River Rd Columbus, GA 31904
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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
    6801 River Rd Columbus, GA 31904
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    We can help!
    Listing Contact
    Franklin Harcourt
    Franklin Harcourt
    Real Estate License ID: 343941
    Learn more
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