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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2600 Columbia St Milledgeville, GA 31061

    • Hotels
    • 43,282 SF
    • 1.54 lot acres
    For Lease
    View listing
    Last Sale
    Mar 01, 2023
    $8,500,000
    Value Estimations
    $8,500,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2935547
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Lendmark Financial Services LLC / Loan Service
    • Rent-A-Center / Furniture & Home Goods / Home Decor Store
    • KC Nails / Nail Salon
    • Sally Beauty / Cosmetic Store
    • Cato Fashions / Clothing & Fashion Store

    Property Details for 2600 Columbia St

    Year built
    2016
    Construction
    FRAME
    Lot size
    1.54 lot acres
    Property size
    43,282 SF
    Zone code
    COMMERCIAL
    Property type
    Hotels
    APN
    068 027
    APU
    68027

    Description

    This exceptional retail space, totaling 1,200 square feet, is situated within the thriving Merchant Central Shopping Center in Milledgeville, Georgia. Located at 2600 N Columbia St, zip code 31061, this Walmart-anchored shadow center benefits from the significant traffic and visibility generated by its anchor tenant. The entire shopping center encompasses 45,013 square feet and offers a strong tenant mix, providing essential services to the local community. This particular unit is immediately available and represents a unique opportunity for businesses seeking high foot traffic and a prime location. The property's strategic placement along Highway 441 ensures excellent exposure to a large customer base, with an estimated 2.3 million annual visits to the shopping center. The space is ideal for a variety of retail uses, healthcare services, or a restaurant, catering to the needs of the local residents. The minimum divisible space is 1,200 square feet, and the maximum contiguous space available is also 1,200 square feet. This presents a ready-to-occupy space with immediate potential for growth and success in a bustling retail environment. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,495,000
      ML approach
      $7,905,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Milledgeville
    County
    Baldwin
    State
    Georgia
    Longitude
    -83.2626
    Latitude
    33.1195
    CBSA code
    33300
    CBSA name
    MILLEDGEVILLE, GA MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $47,008
    $176,552
    $1,142,784
    $1,319,336
    -
    $441,380
    $2,856,960
    $3,298,340

    Comparable in this City

    • Value Estimation
      $2,380,000
      67,190 SF

      2621 Columbia St

      HOTEL • 67,190 SF
      2621 Columbia St, Milledgeville, GA 31061-9344
      View Details
    • Value Estimation
      $850,000
      118,521 SF

      2461 Columbia St

      HOTEL • 118,521 SF
      2461 Columbia St, Milledgeville, GA 31061-2067
      View Details
    • Value Estimation
      $6,150,000
      172,008 SF

      1839 Columbia St

      HOTEL • 172,008 SF
      1839 Columbia St, Milledgeville, GA 31061-2316
      View Details
    • Value Estimation by Request
      13,280 SF

      1616 Columbia St

      MOTEL • 13,280 SF
      1616 Columbia St, Milledgeville, GA 31061-2313
      View Details
    • Value Estimation
      $895,000
      25,807 SF

      2816 Columbia St

      MOTEL • 25,807 SF
      2816 Columbia St, Milledgeville, GA 31061-8422
      View Details
    • Value Estimation by Request
      9,347 SF

      2638 Irwinton Rd

      MOTEL • 9,347 SF
      2638 Irwinton Rd, Milledgeville, GA 31061-9762
      View Details

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    Similar Nearby for Lease

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      7,600 SF

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      45,013 SF

      Merchant Central Retail Space

      Milledgeville, GA: 1,200 SF Walmart-Anchored
      2600 Columbia St, Milledgeville, GA 31061
      View Details
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      Milledgeville Retail Space Available

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      View Details
    • Contact for pricing
      98,640 SF

      Renaissance Park Industrial Space

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      View Details
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    Milledgeville, GA 31061
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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
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