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    3968 Mercer University Dr Macon, GA 31204

    Sponsored
    Picture of Self storage facilities at Mercer University Dr 3968, Macon, GA
    For Sale
    $1,200,000

    SINGLE_FAMILY - Macon, GA

    Type:Retail
    Property size:
    26,800 SF
    Lot size:
    1.62 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 3 at 11:06 am

    Property Features for 3968 Mercer University Dr

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Standard status
    Active
    Security features
    Security Lighting
    Zoning
    C2
    Parking
    10
    Parking features
    Parking Lot
    Interior features
    Reception Area, Restrooms
    Fencing
    Gate, Chain Link
    Size
    26,800 SF
    Lot size
    1.62 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    2005
    Floors in Building
    1
    Flooring type
    Concrete, Carpet
    Building materials
    Frame, Metal Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Jason Koenig
    Jason Koenig

    KELLER WILLIAMS REALTY ATLANTA MIDTOWN (404) 604-3100

    Listing agent Jason Koenig

    Listing date Mar 3, 2026

    MLS# 7727810

    Copyright © 2026 First Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Value-Add Self-Storage Facility Opportunity

    This 161-unit self-storage facility, located along a high-visibility commercial corridor in Macon, presents a value-add opportunity to reposition a formerly thriving asset. Constructed in 2004, the property consists of 26,200 square feet across two buildings on 1.62 acres. The property is zoned C2 Commercial and is located off a high-traffic four-lane road. The appraisal noted the property had good curb appeal and visibility at the time of inspection, with no known environmental concerns, and is located outside the 100- and 500-year floodplains. The property sits within the 31204 trade area, which has a population of 29,107 and a median household income of $43,032. Nearby I-75 traffic counts exceed 96,000 vehicles per day. Even during operational challenges in early 2023, the facility demonstrated leasing momentum. The primary physical deficiency involves damaged unit doors requiring replacement. The core infrastructure, including buildings, paving, layout, and utilities, remains intact. The property had historic occupancy of 83% or greater, demonstrated rental velocity, and is located in a high-traffic corridor. The market vacancy in the area is just 7%.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mercer Storage Storage Facility U-Haul Neighborhood Dealer Car Rental Facility

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.704069
    Latitude
    32.823425

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    FAQs

    What type of property is this?
    Self storage facility - 161-unit self-storage facility in Macon, GA, with repositioning potential.
    Where is this self storage facility located?
    The property is located at 3968 Mercer University Dr Macon, GA.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: - Value-add opportunity to reposition a 161-unit self-storage facility in a high-traffic location.; - Demonstrated historical performance with strong occupancy (83%+) and rental velocity.; - Below replacement cost valuation.
    (205) 283-6391
    Request Owner's contact information
    3968 Mercer University Dr Macon, GA 31204
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    Macon, GA 31204
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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
    3968 Mercer University Dr Macon, GA 31204
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    We can help!
    Listing Contact
    Jason Koenig
    Jason Koenig
    Real Estate License ID: 0000797661
    (205) 283-6391 (205) 397-6500 (659) 207-5441
    Learn more
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