C-2 Retail
For Sale
Contact for pricing
2968 Vineville Avenue, Macon, GA 31204
Retail property with C-2 zoning and a 1925 construction date.
Property Size1,267 SF
Price / SF$130.23
Days on Market137
Property Features for 2968 Vineville Avenue
General Information
Standard status
Active
Size
1,267 SF
Property subtype
Retail
Zoning
C-2
Investment Type
Owner/User
Building Details
Year Built
1925
Listing Agency:
Bob Lewis & Associates Inc
Listed By:
Bob Lewis · License #GA 5655
Source:
Crexi
Added: Apr 17
Changed: Aug 30
Last Checked: Aug 30 at 2:13PM
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 Bob Lewis & Associates Inc
Investment Insights
Based on property information with market context.
This retail property is located at 2968 Vineville Avenue in Macon, Georgia. The building dates to 1925 and carries a C-2 zoning designation, providing a defined commercial context for the asset.
Key Highlights
- C‑2 zoning designation
- 1925 construction date
- 2968 Vineville Avenue address in Macon, GA 31204
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
$12,056
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
7.31%
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%
$241,120
$241.1K
Cap Rate 7%
$172,229
$172.2K
Cap Rate 9%
$133,956
$134.0K
Market Conditions
NOI Build-Up for 1,267 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
$18.2K $14.40/SF
− Vacancy
−$1.0K −$0.81/SF
EGI
$17.2K $13.59/SF
− OpEx
−$5.2K −$4.08/SF
NOI
$12.1K $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%
$241,120
Cap Rate 7%
$172,229
Cap Rate 9%
$133,956
Alternative Uses
Best Use
Retail
$172.2K
$150.7K – $200.9K
NOI $12,056 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$242.4K
$212.1K – $282.8K
NOI $16,968 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
AutoZone
Shops & Services
1,868 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
1,820 visits/mo
0.3 miles
Ameris Bank
Shops & Services
605 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
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 property with C-2 zoning and a 1925 construction date.
Where is this retail space located?
The property is located at 2968 Vineville Avenue Macon, GA.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: C‑2 zoning designation; 1925 construction date; 2968 Vineville Avenue address in Macon, GA 31204
