Commercial Office
For Sale
Contact for pricing
341 Third Street, Macon, GA 31201
For sale office building located at 341 Third Street in Macon, Georgia.
Property Size3,878 SF
Price / SF$186.95
Days on Market142
Property Features for 341 Third Street
General Information
Standard status
Active
Size
3,878 SF
Property subtype
Office
Zoning
CBD-1
Investment Type
Owner/User
Building Details
Year Built
1920
Stories
2
Listing Agency:
Bob Lewis & Associates Inc
Listed By:
Bob Lewis · License #GA 5655
Source:
Crexi
Added: Apr 17
Changed: Aug 26
Last Checked: Sep 5 at 5:55PM
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 commercial office building at 341 Third Street offers a for-sale opportunity in Macon, Georgia.
The property is listed for sale at 341 Third Street, Macon, GA 31201, and is presented as an office building within the Commercial real estate and Office buildings categories.
The total property size is 3,878 square feet, providing space in a dedicated office format.
The property is listed for sale at 341 Third Street, Macon, GA 31201, and is presented as an office building within the Commercial real estate and Office buildings categories.
The total property size is 3,878 square feet, providing space in a dedicated office format.
Key Highlights
- Office building for sale at 341 Third Street, Macon, GA 31201
- Built in 1920
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
$37,973
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
5.24%
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%
$759,460
$759.5K
Cap Rate 7%
$542,471
$542.5K
Cap Rate 9%
$421,922
$421.9K
Market Conditions
NOI Build-Up for 3,878 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
$74.5K $19.20/SF
− Vacancy
−$23.8K −$6.14/SF
EGI
$50.6K $13.06/SF
− OpEx
−$12.7K −$3.26/SF
NOI
$38.0K $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%
$759,460
Cap Rate 7%
$542,471
Cap Rate 9%
$421,922
Alternative Uses
Best Use
Office B
$542.5K
$474.7K – $632.9K
NOI $37,973 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$741.9K
$649.2K – $865.6K
NOI $51,934 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,211
Businesses Nearby
Explore this area
Business Placement
Demographics for 31201, GA
8,882
Population
4,916
Households
1.8
Avg Household Size
35
Median Age
29%
College-Educated
82%
High-School Grad
9.4 sq mi
ZIP Area
945
Density / Sq Mi
$22,936
Median Household Income
$27,311
Median Earnings
$912
Median Rent
$151,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - For sale office building located at 341 Third Street in Macon, Georgia.
Where is this office building located?
The property is located at 341 Third Street Macon, GA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Office building for sale at 341 Third Street, Macon, GA 31201; Built in 1920
