Downtown Macon Multifamily
For Sale
$190,000
1235 Walnut Street, Macon, GA 31201
Multifamily properties in downtown Macon, Georgia. Price reduced.
Property Size1,989 SF
Days on Market192
Property Features for 1235 Walnut Street
General Information
Standard status
Active
Size
1,989 SF
Property subtype
Office
Building Details
Building Size
1,989 SF
Listing Agency:
Coldwell Banker Commercial Eberhardt & Barry
Listed By:
Deidra Stewart · License #351121
(478) 746-8171
Source:
Cbcworldwide
Added: Mar 5
Changed: Sep 10
Last Checked: Sep 13 at 3:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial Eberhardt & Barry
Investment Insights
Based on property information with market context.
Located in downtown Macon, Bibb County, Georgia, these multifamily properties are available for purchase. Note that the properties may be purchased separately. The seller is motivated.
Key Highlights
- Downtown Macon location
- Price Reduced
- Motivated Seller
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
$16,517
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
8.69%
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%
$330,340
$330.3K
Cap Rate 7%
$235,957
$236.0K
Cap Rate 9%
$183,522
$183.5K
Market Conditions
NOI Build-Up for 1,989 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
$32.2K $16.20/SF
− Vacancy
−$2.2K −$1.10/SF
EGI
$30.0K $15.10/SF
− OpEx
−$13.5K −$6.79/SF
NOI
$16.5K $8.30/SF
Area
Macon, GA
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$330,340
Cap Rate 7%
$235,957
Cap Rate 9%
$183,522
Alternative Uses
Best Use
Apartment 5plus
$236.0K
$206.5K – $275.3K
NOI $16,517 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$380.5K
$333.0K – $444.0K
NOI $26,637 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
178
Businesses Nearby
Explore this area
Business Placement
Demographics for 31201, GA
8,882
Population
4,916
Households
1.8
Avg Household Size
35
Median Age
29%
College-Educated
82%
High-School Grad
9.4 sq mi
ZIP Area
945
Density / Sq Mi
$22,936
Median Household Income
$27,311
Median Earnings
$912
Median Rent
$151,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily properties in downtown Macon, Georgia. Price reduced.
Where is this multifamily property located?
The property is located at 1235 Walnut Street Macon, GA.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Downtown Macon location; Price Reduced; Motivated Seller
