Historic Mixed-Use Property with
For Sale
$799,000
2028 Vineville Ave, Macon, GA 31204
Two-story Victorian property offering live-work flexibility, commercial space, landscaped grounds, and a detached barn and storage building.
Property Size5,994 SF
Lot Size2.21 Acres
Price / SF$133.30
Days on Market39
Property Features for 2028 Vineville Ave
General Information
Standard status
Active
Size
5,994 SF
Lot size
2.21 Acres
Zoning
HC
Additional Details
Road Access
Yes
Building Details
Year Built
1890
Stories
2
Construction
Victorian
Listing Agency:
Fickling & Company, Inc.
(478) 757-9600
Listed By:
Jenny Howell · License #417599
Source:
Annakintown
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 25 at 3:59AM
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 Fickling & Company, Inc.
Investment Insights
Based on property information with market context.
Built in 1890, this 5,994 SF two-story Victorian property combines historic architectural details with a flexible mixed-use configuration. Interior features include a grand reception hall, second-floor gallery hall, French-door entry, vintage light fixtures, oversized windows, millwork, a private primary suite, kitchen, multiple offices, flex rooms, and a rear gallery lobby. A widow’s walk adds another distinctive element. The property is zoned HC (Historic Commercial), with live-work use and other permitted commercial uses identified in the source information.
The landscaped grounds include a private Victorian courtyard, a two-story barn with loft, and a 1,290 SF detached metal storage building. The 2.21-acre parcel extends nearly 400 feet beyond the rear outbuilding and includes a circular driveway with separate entrance and exit access on Vineville Avenue. Located at 2028 Vineville Ave in Macon, Georgia, the property presents a substantial historic setting with multiple interior and exterior components.
The landscaped grounds include a private Victorian courtyard, a two-story barn with loft, and a 1,290 SF detached metal storage building. The 2.21-acre parcel extends nearly 400 feet beyond the rear outbuilding and includes a circular driveway with separate entrance and exit access on Vineville Avenue. Located at 2028 Vineville Ave in Macon, Georgia, the property presents a substantial historic setting with multiple interior and exterior components.
Key Highlights
- 5,994 SF two‑story Victorian property built in 1890
- Zoned HC (Historic Commercial) with live‑work and other permitted commercial uses
- 2.21‑acre parcel with nearly 400 feet extending beyond the rear outbuilding
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
$58,693
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
7.35%
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%
$1,173,860
$1.2M
Cap Rate 7%
$838,471
$838.5K
Cap Rate 9%
$652,144
$652.1K
Market Conditions
NOI Build-Up for 5,994 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
$115.1K $19.20/SF
− Vacancy
−$36.8K −$6.14/SF
EGI
$78.3K $13.06/SF
− OpEx
−$19.6K −$3.26/SF
NOI
$58.7K $9.79/SF
Area
Macon, GA
Vacancy
32.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,173,860
Cap Rate 7%
$838,471
Cap Rate 9%
$652,144
Alternative Uses
Best Use
Office B
$838.5K
$733.7K – $978.2K
NOI $58,693 @ 7.0% cap · market cap 7.35%
Second Best
Mixed Use
$809.2K
$708.0K – $944.1K
NOI $56,643 @ 7.0% cap · market cap 7.09%
Theoretical Best
Healthcare Medical
$1.15M
$1.00M – $1.34M
NOI $80,272 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Explore this area
Business Placement
Demographics for 31204, GA
30,512
Population
15,578
Households
2
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
14.6 sq mi
ZIP Area
2,090
Density / Sq Mi
$38,478
Median Household Income
$32,586
Median Earnings
$917
Median Rent
$123,700
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?
Mixed-use property - Two-story Victorian property offering live-work flexibility, commercial space, landscaped grounds, and a detached barn and storage building.
Where is this mixed-use property located?
The property is located at 2028 Vineville Ave Macon, GA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 5,994 SF two‑story Victorian property built in 1890; Zoned HC (Historic Commercial) with live‑work and other permitted commercial uses; 2.21‑acre parcel with nearly 400 feet extending beyond the rear outbuilding
