Automotive Shop with High
For Sale
$695,000
1711 Key Street, Macon, GA 31204
COMMERCIAL - Macon, GA
Property Size6,218 SF
Lot Size0.95 Acres
Price / SF$111.77
Days on Market207
Property Features for 1711 Key Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C3
Subdivision
Bibb County
Standard status
Active
Size
6,218 SF
Lot size
0.95 Acres
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Listing Agency:
RPI REAL ESTATE SERVICES
(478) 954-5665
Listed By:
Bill Waldorf · License #182018
(478) 954-5665
Added: Feb 3
Changed: Aug 4
Last Checked: Aug 29 at 9:06AM
MLS# 262706
Copyright © 2026 Central Georgia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This automotive shop property features a garage with 16-foot ceilings and an office area described as very nice. The offering is currently positioned for automotive sales and service based on the listed use.
Located at 1711 Key Street in Macon, Georgia 31204, the property is zoned C3. Additional details provided indicate the property has sold for more than a million dollars twice in the past.
With a site of 0.953 acres and 6,218 square feet of building area, this is a purpose-built commercial facility within a C3 zoning district.
Located at 1711 Key Street in Macon, Georgia 31204, the property is zoned C3. Additional details provided indicate the property has sold for more than a million dollars twice in the past.
With a site of 0.953 acres and 6,218 square feet of building area, this is a purpose-built commercial facility within a C3 zoning district.
Key Highlights
- Heating and cooling provided by heat pump system
- Garage features 16‑foot ceilings
- Includes an office area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,168
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,183,360
$1.2M
Cap Rate 7%
$845,257
$845.3K
Cap Rate 9%
$657,422
$657.4K
Market Conditions
NOI Build-Up for 6,218 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$89.5K $14.40/SF
− Vacancy
−$5.0K −$0.81/SF
EGI
$84.5K $13.59/SF
− OpEx
−$25.4K −$4.08/SF
NOI
$59.2K $9.52/SF
Area
Macon, GA
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,183,360
Cap Rate 7%
$845,257
Cap Rate 9%
$657,422
Alternative Uses
Best Use
Retail
$845.3K
$739.6K – $986.1K
NOI $59,168 @ 7.0% cap · market cap 8.51%
Second Best
Industrial
$561.1K
$491.0K – $654.6K
NOI $39,278 @ 7.0% cap · market cap 5.65%
Theoretical Best
Healthcare Medical
$1.19M
$1.04M – $1.39M
NOI $83,271 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
66k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 72%
Shops & Services 20%
Home Improvements & Furnishings 8%
Academy Sports + Outdoors
Apparel
47,632 visits/mo
0.1 miles
Dollar Tree
Shops & Services
12,239 visits/mo
0.4 miles
Home Outlet
Home Improvements & Furnishings
4,651 visits/mo
0.4 miles
Grainger
Home Improvements & Furnishings
707 visits/mo
0.4 miles
Devon Self Storage
Shops & Services
600 visits/mo
0.3 miles
Demographics for 31204, GA
30,512
Population
15,578
Households
2
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
14.6 sq mi
ZIP Area
2,090
Density / Sq Mi
$38,478
Median Household Income
$32,586
Median Earnings
$917
Median Rent
$123,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Automotive property includes a garage with 16-foot ceilings and a nicely appointed office area.
Where is this auto shop located?
The property is located at 1711 Key Street Macon, GA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Heating and cooling provided by heat pump system; Garage features 16‑foot ceilings; Includes an office area
