Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Food and Beverage Building Title is generated by Realmo AI

    3189 Mercer University Drive, Macon, GA 31204

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Exceptional opportunity for investors or owner-occupants in the hospitality industry.

    Type:Retail
    Added:
    Sep 28, 2024
    Days on Market:
    611
    Last Refresh:
    May 12 at 11:14 pm

    Property Features for 3189 Mercer University Drive

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    2006

    We can help!

    Listing Contact
    Annie Paschal

    Listing agent Annie Paschal

    Listing office Cornerstone Real Estate Partners, LLC

    Listing date Sep 28, 2024

    Source Crexi

    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 Cornerstone Real Estate Partners, LLC

    HighLights

    • Strategic location ideal for high footfall and drive‑through traffic.
    • Parking lot accommodates over 20 cars, perfect for takeout/fast food.
    • Versatile space easily adaptable to various culinary concepts.
    • Exceptional opportunity for investor or owner‑occupant in hospitality.
    • Suited for high customer turnover.
    • Built in 2006

    Overview

    This food and beverage building presents an opportunity for investors or owner-occupants seeking to enter or expand within the hospitality industry. The property includes a parking lot accommodating over 20 cars, making it suitable for high customer turnover. This feature is beneficial for takeout, quick service, or fast food restaurants. The location, combined with ample parking, provides convenience for customers and delivery services, enhancing the potential for footfall and drive-through traffic. The versatile space can be adapted to various culinary concepts, offering a ready-to-transform venue in a business area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Silly Lillys Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • George Catering Services — 833 Woodard Ave, Macon, GA 31204, United States

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.6808562
    Latitude
    32.8246002

    Nearby Similar for Sale

    • $595,000
      3,136 SF

      Macon Commercial NNN Investment Opportunity

      Stabilized NNN investment with immediate rental income in Macon, GA.
      4849 Mercer University Drive, Macon, GA 31210
      View Details
    • $505,000
      2,809 SF

      Turnkey Auto Repair Business Opportunity

      Fully equipped auto repair business for sale in Macon, GA.
      2644 Houston Avenue, Macon, GA 31206
      View Details
    • $995,000
      7,480 SF

      Macon Commercial Building Opportunity

      7,480 SF building in a rapidly developing area.
      2080 Bowman Park, Macon, GA 31210
      View Details
    • $179,000
      3,714 SF

      Warehouse and Office on Large Lot

      Commercial property with warehouse, office, and road frontage.
      3019 Riggins Mill Road, Macon, GA 31217
      View Details
    • $675,000
      1,500 SF

      Versatile Commercial Opportunity in Macon

      4,200 sq. ft. commercial space with flexible layouts.
      3146 Vineville Avenue, Macon, GA 31204
      View Details
    • $1,400,000
      18,560 SF

      Macon Self-Storage Facility with Warehouse

      Newly renovated self-storage facility with warehouse and expansion potential.
      5550 Hawkinsville Road, Macon, GA
      View Details
    • $95,500
      2,934 SF

      Versatile Commercial Building Near Mercer

      Adaptable 2,934 SF building suitable for retail, warehouse, or housing.
      3017 Columbus Road, Macon, GA 31204
      View Details
    • $250,000
      1,170 SF

      Retail Store and Restaurant Opportunity

      Charming retail store and restaurant on 0.38-acre parcel.
      816 Hall Street, Macon, GA 31217
      View Details
    • $695,000
      6,218 SF

      Macon Automotive Sales/Service Property

      Commercial property suitable for automotive sales and service in Macon.
      1711 Key Street, Macon, GA 31204
      View Details
    • $216,000
      3,313 SF

      Macon Place of Worship For Sale

      Place of worship with sanctuary, hall, and kitchen on 0.82 acres.
      3592 Log Cabin Drive, Macon, GA 31204
      View Details
    • $2,000,000
      20,000 SF

      Macon Warehouse Near River Crossing

      20,000 SF warehouse in prime Macon location for sale.
      326 Corporate Parkway, Macon, GA 31210
      View Details
    • $600,000
      3,150 SF

      Mercer University Drive Investment Opportunity

      Profitable salon suites with leaseback in high-traffic Macon corridor.
      4849 Mercer University Drive, Macon, GA 31210
      View Details

    FAQs

    What type of property is this?
    Restaurant - Exceptional opportunity for investors or owner-occupants in the hospitality industry.
    Where is this restaurant located?
    The property is located at 3189 Mercer University Drive Macon, GA.
    What is the asking price?
    The asking price for this property is $99,700.
    What are key features of this property?
    This property features: Strategic location ideal for high footfall and drive‑through traffic.; Parking lot accommodates over 20 cars, perfect for takeout/fast food.; Versatile space easily adaptable to various culinary concepts.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Annie Paschal
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3189 Mercer University Drive, Macon, GA 31204
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!