Medical Office
For Sale
$750,000
1601 Macon Rd, Perry, GA 31069
COMMERCIAL, Perry, GA
Property Size2,354 SF
Lot Size0.92 Acres
Price / SF$318.61
Days on Market47
Property Features for 1601 Macon Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Subdivision
Perry & South Houston Co.
Standard status
Active
Size
2,354 SF
Lot size
0.92 Acres
Utilities
Heating system
Electric (Heating), Heat Pump (Heating), Central
Cooling system
Central Air, Electric, Heat Pump
Listing Agency:
LANDMARK REALTY
(478) 987-9987
Listed By:
Wendy Ruzic · License #244948
(478) 396-8528
Added: Jul 16
Changed: Aug 25
Last Checked: Aug 31 at 12:06AM
MLS# 264295
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 2,354-square-foot commercial building occupies a 0.92-acre corner lot in Perry. The property was most recently used for medical office operations and previously served as a credit union, offering a layout adaptable to professional, medical, financial, retail, or service-oriented use. Central electric heating and cooling systems are in place.
The property is near Downtown Perry, with access to I-75 and Perry Parkway. A future Kroger shopping complex is also nearby. C2 zoning supports the property's commercial positioning, while the corner setting, parking, and established building improvements provide a practical base for an owner-user or occupant seeking a Perry location.
The property is near Downtown Perry, with access to I-75 and Perry Parkway. A future Kroger shopping complex is also nearby. C2 zoning supports the property's commercial positioning, while the corner setting, parking, and established building improvements provide a practical base for an owner-user or occupant seeking a Perry location.
Key Highlights
- 2,354‑square‑foot commercial building on a 0.92‑acre corner lot
- C2 zoning
- Most recently operated as a medical office; previously used as a credit union
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
$27,760
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
3.70%
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%
$555,200
$555.2K
Cap Rate 7%
$396,571
$396.6K
Cap Rate 9%
$308,444
$308.4K
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
$51.7K $21.96/SF
− Vacancy
−$5.4K −$2.31/SF
EGI
$46.3K $19.65/SF
− OpEx
−$18.5K −$7.86/SF
NOI
$27.8K $11.79/SF
Area
Houston County, GA
Vacancy
10.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
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%
$555,200
Cap Rate 7%
$396,571
Cap Rate 9%
$308,444
Alternative Uses
Best Use
Healthcare Medical
$396.6K
$347.0K – $462.7K
NOI $27,760 @ 7.0% cap · market cap 3.70%
Second Best
Office B
$352.4K
$308.4K – $411.2K
NOI $24,669 @ 7.0% cap · market cap 3.29%
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
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - C2-zoned corner-lot property with parking and convenient access to I-75.
Where is this medical office space 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‑square‑foot commercial building on a 0.92‑acre corner lot; C2 zoning; Most recently operated as a medical office; previously used as a credit union
