6-Unit Apartment
New
For Sale
$660,000
301 Mary Lane, Warner Robins, GA 31088
Brick construction, updated interiors, and in-unit laundry connections support comfortable residential occupancy.
Property Size1,966 SF
Price / SF$124.72
Days on Market7
Property Features for 301 Mary Lane
General Information
Standard status
Active
Size
1,966 SF
Property subtype
Other
Amenities
0.34 acres, Interior Lot
Public Sewer
Annual Amount: $2,656, Year: 25
Carpet
Electric
Cumulative Days on Market: 4, 4 days on market, On Market Date: 2026-08-05
Parking Lot
Built in 1966, Brick, Vinyl Siding
County: Houston
Resale
Electricity Available, Public
Negotiable
Building Details
Building Size
1,966 SF
Year Built
1966
Listing Agency:
Simmons Realty Group & Associates
(478) 957-3085
Listed By:
Quinshay Thomas
(478) 957-3085
Source:
Blackstreaminternational
Added: Aug 5
Changed: Aug 11
Last Checked: Aug 11 at 6:42AM
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 Simmons Realty Group & Associates
Investment Insights
Based on property information with market context.
This 5,292-square-foot apartment property contains six units with a practical mix of two 3-bedroom, 1.5-bath residences and four 2-bedroom, 1.5-bath residences. Constructed in 1966, the building has a brick exterior, on-site parking, and in-unit laundry connections. Many residences feature white shaker cabinetry, refreshed countertops, newer appliances, updated flooring, interior paint, and renovated bathrooms.
Located at 301 Mary Lane in Warner Robins, the property is minutes from Robins Air Force Base, shopping, dining, schools, healthcare facilities, retail centers, restaurants, major highways, and major employers. The unit mix and interior improvements provide a range of residential configurations within a single multifamily asset.
Located at 301 Mary Lane in Warner Robins, the property is minutes from Robins Air Force Base, shopping, dining, schools, healthcare facilities, retail centers, restaurants, major highways, and major employers. The unit mix and interior improvements provide a range of residential configurations within a single multifamily asset.
Key Highlights
- 6‑unit apartment building totaling 5,292 square feet
- Unit mix includes two 3‑bedroom, 1.5‑bath units and four 2‑bedroom, 1.5‑bath units
- Brick exterior with construction completed in 1966
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
$40,383
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
6.12%
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%
$807,660
$807.7K
Cap Rate 7%
$576,900
$576.9K
Cap Rate 9%
$448,700
$448.7K
Market Conditions
NOI Build-Up for 5,292 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
$78.1K $14.76/SF
− Vacancy
−$4.7K −$0.89/SF
EGI
$73.4K $13.87/SF
− OpEx
−$33.0K −$6.24/SF
NOI
$40.4K $7.63/SF
Area
Houston County, GA
Vacancy
6.00%
Lease Rate
$14.76 /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%
$807,660
Cap Rate 7%
$576,900
Cap Rate 9%
$448,700
Alternative Uses
Best Use
Apartment 5plus
$576.9K
$504.8K – $673.1K
NOI $40,383 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$999.4K – $1.33M
NOI $79,954 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 31088, GA
57,034
Population
24,167
Households
2.4
Avg Household Size
36
Median Age
36%
College-Educated
94%
High-School Grad
29.4 sq mi
ZIP Area
1,940
Density / Sq Mi
$81,507
Median Household Income
$44,764
Median Earnings
$1,224
Median Rent
$189,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick construction, updated interiors, and in-unit laundry connections support comfortable residential occupancy.
Where is this apartment building located?
The property is located at 301 Mary Lane Warner Robins, GA.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: 6‑unit apartment building totaling 5,292 square feet; Unit mix includes two 3‑bedroom, 1.5‑bath units and four 2‑bedroom, 1.5‑bath units; Brick exterior with construction completed in 1966
