16-Unit Multifamily
For Sale
$975,000
1740 Schofield Street, Macon, GA 31201
Commercial Sale, Macon, GA
Property Size10,368 SF
Lot Size0.99 Acres
Price / SF$94.04
Days on Market52
Property Features for 1740 Schofield Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Corner Lot
Directions
From Forsyth St turn onto Monroe St. Left onto 5th ave. Right onto Walnut st. Left onto Hudson St. Left onto Orchard ave. Left onto Ellis. Property on left.
Standard status
Active
APN
Q0710638
Size
10,368 SF
Lot size
0.99 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
421
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Building materials
Brick
Roof type
Metal
Listing Agency:
Keller Williams Middle Georgia · Keller Williams Realty
(478) 333-5050
Listed By:
Dorey Hawkins · License #412329
(678) 468-7855
Added: Jul 21
Changed: Aug 19
Last Checked: Sep 10 at 6:06AM
MLS# 10811502
Copyright © 2026 Georgia Multiple Listing Service. 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 multifamily property comprises 8 all-brick duplex buildings with 16 total units on 0.99 acres. Each residence offers 2 bedrooms and 1 bathroom within a combined 10,368 square feet. Interior improvements include luxury vinyl plank flooring, fresh paint, updated color schemes, and revised layouts. Major capital work includes new metal roofs, central heating and air, and water heaters.
Built in 1960, the property is served by public water and public sewer, with cable available. The asset is located at 1740 Schofield Street in Macon, Georgia, with access to downtown within a short drive. An approximate 8.4% cap rate is stated for the property.
Built in 1960, the property is served by public water and public sewer, with cable available. The asset is located at 1740 Schofield Street in Macon, Georgia, with access to downtown within a short drive. An approximate 8.4% cap rate is stated for the property.
Key Highlights
- 16 total units across 8 all‑brick duplex buildings
- Each unit includes 2 bedrooms and 1 bathroom
- 10,368 square feet on a 0.99‑acre site
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
$86,097
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
8.83%
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%
$1,721,940
$1.7M
Cap Rate 7%
$1,229,957
$1.2M
Cap Rate 9%
$956,633
$956.6K
Market Conditions
NOI Build-Up for 10,368 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
$168.0K $16.20/SF
− Vacancy
−$11.4K −$1.10/SF
EGI
$156.5K $15.10/SF
− OpEx
−$70.4K −$6.79/SF
NOI
$86.1K $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%
$1,721,940
Cap Rate 7%
$1,229,957
Cap Rate 9%
$956,633
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.56M
NOI $93,685 @ 7.0% cap · market cap 9.61%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.43M
NOI $86,097 @ 7.0% cap · market cap 8.83%
Theoretical Best
Healthcare Medical
$1.98M
$1.74M – $2.31M
NOI $138,848 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
385
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
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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 - Remodeled duplex community with updated roofs, central systems, and public water and sewer service.
Where is this multifamily property located?
The property is located at 1740 Schofield Street Macon, GA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 16 total units across 8 all‑brick duplex buildings; Each unit includes 2 bedrooms and 1 bathroom; 10,368 square feet on a 0.99‑acre site
