433 21St St Columbus, GA 31904
This exceptional 1.8-acre property at 433 21st Street in Columbus, Georgia, presents a unique redevelopment opportunity. The site features a substantial 25,547 square foot, two-story brick building constructed in 1890, boasting a full basement. This former schoolhouse, situated in the Rose Hill subdivision, is characterized by its classic architectural details, including pilasters and a cornice. The interior layout follows the traditional "Quincy plan," with identical floors featuring a long hallway, classrooms, and offices. Original features include plaster walls, tongue-and-groove ceilings, and hardwood floors. The property is zoned Residential Office (RO), permitting multifamily, condo, and mixed-use developments. Its convenient location is five blocks north of the Medical Center, within an area undergoing urban renewal and near a large public housing development. The site benefits from excellent access to major roadways, including Hamilton Road, and is conveniently located near shopping, employment centers, recreational facilities, and places of worship. All utilities are available, and the property is not located in a flood hazard area. The asking price is $495,000, translating to $19.38 per square foot. This presents a compelling investment prospect for developers seeking a prime location with significant potential for adaptive reuse or new construction. The property's size, zoning, and location combine to offer a rare chance to create a thriving project in a growing area.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.