Former Bank with Drive-Thru
For Sale
Contact for pricing
2930 Riverside Drive, Macon, GA 31204
Former bank property with two drive-thru lanes, ample paved parking, and C-4 zoning for flexible commercial use.
Property Size5,076 SF
Lot Size0.90 Acres
Price / SF$295.51
Days on Market104
Property Features for 2930 Riverside Drive
General Information
Standard status
Active
Size
5,076 SF
Lot size
0.90 Acres
Property subtype
Retail
Zoning
C-4
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1979
Stories
2
Listing Agency:
Fickling & Company
Listed By:
Trip Wilhoit · License #265982
(478) 803-4121
Source:
Crexi
Added: Jun 8
Changed: Sep 19
Last Checked: Sep 19 at 8:08AM
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 Fickling & Company
Investment Insights
Based on property information with market context.
This former bank building is offered for sale and includes a main structure of 5,076 square feet on 0.9 acres. The site is improved with ample paved parking and features two drive-thru lanes, supporting operations that need vehicle-based service. The property also notes that all utilities are available to the site, which can simplify site readiness for a new owner’s plans.
The property is located on Riverside Drive in Macon, GA, with high visibility and traffic in the area. Convenience to I-75 and I-16 is highlighted, and the offering states the site has visibility from I-75. Surrounding businesses include Marco’s Pizza, Fine Fettle, Interstate Auto Sales Riverside, Gottwals Books, Grant’s Tire & Auto, Quality Computers, Morgan & Morgan, Truist, and ALM Hyundai Macon, among others.
With C-4 zoning, this building and drive-thru site can be a practical fit for buyers seeking a repositionable commercial property designed for vehicle access and customer flow. The combination of drive-thru lanes, paved parking, and established commercial surroundings supports a range of retail or service-oriented concepts that can work within a drive-up format.
The property is located on Riverside Drive in Macon, GA, with high visibility and traffic in the area. Convenience to I-75 and I-16 is highlighted, and the offering states the site has visibility from I-75. Surrounding businesses include Marco’s Pizza, Fine Fettle, Interstate Auto Sales Riverside, Gottwals Books, Grant’s Tire & Auto, Quality Computers, Morgan & Morgan, Truist, and ALM Hyundai Macon, among others.
With C-4 zoning, this building and drive-thru site can be a practical fit for buyers seeking a repositionable commercial property designed for vehicle access and customer flow. The combination of drive-thru lanes, paved parking, and established commercial surroundings supports a range of retail or service-oriented concepts that can work within a drive-up format.
Key Highlights
- Former bank building with 5,076 SF on 0.9 acres
- C‑4 zoning for flexible commercial use
- Two drive‑thru lanes plus an ample paved parking lot
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
$56,063
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
3.74%
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%
$1,121,260
$1.1M
Cap Rate 7%
$800,900
$800.9K
Cap Rate 9%
$622,922
$622.9K
Market Conditions
NOI Build-Up for 5,076 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
$79.2K $15.60/SF
− Vacancy
−$4.4K −$0.87/SF
EGI
$74.8K $14.73/SF
− OpEx
−$18.7K −$3.68/SF
NOI
$56.1K $11.04/SF
Area
Macon, GA
Vacancy
5.60%
Lease Rate
$15.60 /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%
$1,121,260
Cap Rate 7%
$800,900
Cap Rate 9%
$622,922
Alternative Uses
Best Use
Specialty Retail
$800.9K
$700.8K – $934.4K
NOI $56,063 @ 7.0% cap · market cap 3.74%
Second Best
Retail
$690.0K
$603.8K – $805.0K
NOI $48,301 @ 7.0% cap · market cap 3.22%
Theoretical Best
Healthcare Medical
$971.1K
$849.7K – $1.13M
NOI $67,978 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,321
Businesses Nearby
24k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 96%
Shops & Services 4%
Zaxby's Chicken Fingers & Buffalo Wings
Dining
23,024 visits/mo
0.5 miles
Renasant Bank
Shops & Services
876 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Bank - Former bank property with two drive-thru lanes, ample paved parking, and C-4 zoning for flexible commercial use.
Where is this bank located?
The property is located at 2930 Riverside Drive Macon, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Former bank building with 5,076 SF on 0.9 acres; C‑4 zoning for flexible commercial use; Two drive‑thru lanes plus an ample paved parking lot
