931 Fort Benning Rd Columbus, GA 31903
- Lifestyle centers
- 12,344 SF
- 0.86 lot acres
Current Use by Public Records
- House Of Diamonds / Dance Company
Property Details for 931 Fort Benning Rd
- Year built
- 1970
- Lot size
- 0.86 lot acres
- Property size
- 12,344 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional value-add opportunity presents a multi-tenant shopping center and adjacent apartment complex in Columbus, Georgia. The property, encompassing 12,344 square feet across three buildings on 0.86 acres, includes 11 renovated apartment units and a vacant 1,500 square foot free-standing building. Built in 1970 and extensively renovated in 2023, the property boasts new gutters, paint, flooring, and fixtures in the apartments and shopping center. Currently, the occupancy rate stands at 72.8%, offering significant potential for increased NOI. The shopping center features 12 tenants, and the property benefits from a high-traffic location on Fort Benning Road (over 11,000 vehicles per day), with easy access to I-185 and direct proximity to Spencer High School. The property is zoned GC - General Commercial Zoning District. Minor repairs are pending completion to the shopping center awning. The asking price is $850,000, representing a 7.51% cap rate and a pro-forma cap rate of 11.60%. The current NOI is $63,874, with a pro-forma NOI of $98,537. The property's proximity to Fort Moore (formerly Fort Benning), a major US Army post, further enhances its investment appeal. A total of 3,358 square feet of vacant space, including retail and apartment units, presents a substantial opportunity to increase revenue. This property offers a compelling blend of established income and significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Columbus
- County
- Muscogee
- State
- Georgia
- Longitude
- -84.9402
- Latitude
- 32.4345
