Corner Lot Medical Office
For Sale
$750,000
1601 Macon Rd, Perry, GA 31069
2,354 SF corner-lot building last used as medical office, formerly a credit union, with ample parking and strong visibility.
Property Size2,354 SF
Price / SF$318.61
Days on Market44
Property Features for 1601 Macon Rd
General Information
Standard status
Active
Size
2,354 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1986
Listing Agency:
Landmark Realty
(478) 396-8528
Listed By:
Wendy Ruzic · License #244948
Source:
Harmonandharmon
Added: Jul 19
Changed: Aug 24
Last Checked: Aug 30 at 7:13PM
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 Landmark Realty
Investment Insights
Based on property information with market context.
This versatile 2,354-square-foot commercial building sits on a large corner lot and is positioned for visibility with ample parking. Most recently utilized as a medical office and previously operated as a credit union, the property offers a flexible layout that can accommodate a range of professional, medical, financial, retail, or service-based uses.
Located in Perry, Georgia, the building is minutes from historic Downtown Perry and provides quick access to I-75 and Perry Parkway. It is also described as being moments from a future Kroger shopping complex, supporting continued commercial activity in the immediate area.
The owner will also consider leasing, providing additional flexibility for qualified tenants or operators looking to establish, expand, or relocate.
Located in Perry, Georgia, the building is minutes from historic Downtown Perry and provides quick access to I-75 and Perry Parkway. It is also described as being moments from a future Kroger shopping complex, supporting continued commercial activity in the immediate area.
The owner will also consider leasing, providing additional flexibility for qualified tenants or operators looking to establish, expand, or relocate.
Key Highlights
- 2,354 SF commercial building on a large corner lot
- Last used as a medical office; formerly operated as a credit union
- Flexible layout suitable for professional, medical, financial, retail, or service‑based businesses
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
$29,491
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
3.93%
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%
$589,820
$589.8K
Cap Rate 7%
$421,300
$421.3K
Cap Rate 9%
$327,678
$327.7K
Market Conditions
NOI Build-Up for 2,354 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
$46.0K $19.56/SF
− Vacancy
−$3.9K −$1.66/SF
EGI
$42.1K $17.90/SF
− OpEx
−$12.6K −$5.37/SF
NOI
$29.5K $12.53/SF
Area
Houston County, GA
Vacancy
8.50%
Lease Rate
$19.56 /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%
$589,820
Cap Rate 7%
$421,300
Cap Rate 9%
$327,678
Alternative Uses
Best Use
Retail
$421.3K
$368.6K – $491.5K
NOI $29,491 @ 7.0% cap · market cap 3.93%
Second Best
Healthcare Medical
$396.6K
$347.0K – $462.7K
NOI $27,760 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$508.1K
$444.6K – $592.8K
NOI $35,565 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 31069, GA
22,915
Population
9,389
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
94%
High-School Grad
99.8 sq mi
ZIP Area
230
Density / Sq Mi
$75,526
Median Household Income
$48,601
Median Earnings
$997
Median Rent
$205,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 2,354 SF corner-lot building last used as medical office, formerly a credit union, with ample parking and strong visibility.
Where is this office building located?
The property is located at 1601 Macon Rd Perry, GA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,354 SF commercial building on a large corner lot; Last used as a medical office; formerly operated as a credit union; Flexible layout suitable for professional, medical, financial, retail, or service‑based businesses
