1501 13th Ave Columbus, GA 31901-1908

Property Details for 1501 13th Ave

Year built

1983

Construction

WOOD

Lot size

1.50 lot acres

Property size

9,588 SF

Property type

Commercial real estate

APN

027 022 009

APU

27022009

Description

This fee-simple, single-tenant office building presents a compelling investment opportunity. Located at 1501 13th Ave, Columbus, GA 31901, this 11,835 square foot property boasts a strong 8.50% cap rate and a Net Operating Income (NOI) of $136,099. The property, built in 1983 and situated on 1.5 acres, features two buildings and is currently 100% occupied by iHeartRadio under a NNN lease with a corporate guarantee. The lease commenced June 6, 2009, and extends to September 30, 2032, offering a remaining term of approximately 7.9 years. The lease includes two options and a 3% annual rent increase. The current rent is $14.19 per square foot, significantly below market rates of $20 per square foot. Columbus, Georgia's third-largest city, benefits from a robust economy anchored by Fort Moore (America's third-largest military base), Piedmont Health, Kia Motors, and Anthem Blue Cross. The area exhibits low office vacancy (approximately 5%) and significant ongoing development, including a $50 million Golden Park expansion and a $206 million Pratt & Whitney Aerospace expansion, further enhancing the property's long-term value. The asking price is $1,601,164. This represents a compelling investment in a stable, high-growth market with a blue-chip tenant.

Location Insight

City

Columbus

County

Muscogee

State

Georgia

Longitude

-84.9749

Latitude

32.4749

CBSA code

17980

CBSA name

COLUMBUS, GA-AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments