Retail Space For
For Sale
Contact for pricing
1280 Gray Hwy, Macon, GA 31211
Retail space available with a 14.00% CAP rate.
Property Size14,828 SF
Price / SF$151.74
Days on Market157
Property Features for 1280 Gray Hwy
General Information
Standard status
Active
Size
14,828 SF
Total Parking Spaces
64
Property subtype
Retail
Zoning
C-4 (Highway Commercial District)
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$355,000
Building Details
Year Built
2002
Listing Agency:
Pharma Property Group
(619) 297-0055
Listed By:
Jason Pongsrikul · License #CA 01918332
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 12 at 7:08AM
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 Pharma Property Group
Investment Insights
Based on property information with market context.
This retail space offers 14,828 square feet of area. The property is being offered for sale and features a 14.00% CAP rate.
Key Highlights
- 14.00% CAP Rate
- 14,828 SqFt Retail Space
- Built in 2002
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
$141,096
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
6.27%
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%
$2,821,920
$2.8M
Cap Rate 7%
$2,015,657
$2.0M
Cap Rate 9%
$1,567,733
$1.6M
Market Conditions
NOI Build-Up for 14,828 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
$213.5K $14.40/SF
− Vacancy
−$12.0K −$0.81/SF
EGI
$201.6K $13.59/SF
− OpEx
−$60.5K −$4.08/SF
NOI
$141.1K $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%
$2,821,920
Cap Rate 7%
$2,015,657
Cap Rate 9%
$1,567,733
Alternative Uses
Best Use
Retail
$2.02M
$1.76M – $2.35M
NOI $141,096 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.84M
$2.48M – $3.31M
NOI $198,577 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
136k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 53%
Shops & Services 31%
Apparel 7%
Groceries 6%
Walmart
Superstores
72,650 visits/mo
0.5 miles
Murphy USA
Shops & Services
26,448 visits/mo
0.5 miles
Dollar Tree
Shops & Services
11,786 visits/mo
0.3 miles
Dollar General Market
Groceries
8,697 visits/mo
0.5 miles
Citgo
Shops & Services
4,615 visits/mo
0.1 miles
Demographics for 31211, GA
15,867
Population
7,736
Households
2.1
Avg Household Size
41
Median Age
27%
College-Educated
88%
High-School Grad
44.3 sq mi
ZIP Area
358
Density / Sq Mi
$51,595
Median Household Income
$35,525
Median Earnings
$918
Median Rent
$159,600
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.
Frequently Asked Questions
What type of property is this?
Retail space - Retail space available with a 14.00% CAP rate.
Where is this retail space located?
The property is located at 1280 Gray Hwy Macon, GA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 14.00% CAP Rate; 14,828 SqFt Retail Space; Built in 2002
