Renovated Residential Income
For Sale
$159,900
3483 Napier Avenue, Macon, GA 31204
COMMERCIAL - Macon, GA
Property Size1,635 SF
Lot Size0.14 Acres
Price / SF$97.80
Days on Market153
Property Features for 3483 Napier Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Fencing
Privacy, Fenced
Lot features
Level
Directions
Use GPS
Standard status
Active
APN
N0730346
Size
1,635 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
444
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Gas (Cooling), Electric, Central Air
Water source
Public
Building Details
Year built
1946
Flooring type
Laminate, Tile, Hardwood
Building materials
Vinyl Siding
Listing Agency:
Keller Williams Realty Atl. Partners
(678) 425-1988
Listed By:
Kiiana Brown
(757) 839-1063
Added: Mar 13
Changed: Aug 4
Last Checked: Aug 12 at 8:06PM
MLS# 10711952
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated residential income property has been fully gutted and updated with a new roof, new windows, a new HVAC system, a tankless water heater, and a newly added bathroom. The interior features an open-concept renovation with refinished original hardwood oak flooring and a kitchen highlighted by a spacious island, quartz countertops, gold fixtures, and newly installed appliances. Additional flexibility comes from multiple rooms that can support office, meeting, or work-area use, along with an unfinished attic and bonus/flex space.
Outside, the property includes a fenced backyard and a newly installed driveway providing parking. The home is offered with furnishings included.
The seller notes the potential for commercial or mixed-use conversion, subject to buyer verification and zoning approval, and the property is described as being surrounded by established commercial properties. Buyer should confirm all intended use requirements with the appropriate authorities.
Outside, the property includes a fenced backyard and a newly installed driveway providing parking. The home is offered with furnishings included.
The seller notes the potential for commercial or mixed-use conversion, subject to buyer verification and zoning approval, and the property is described as being surrounded by established commercial properties. Buyer should confirm all intended use requirements with the appropriate authorities.
Key Highlights
- Fully gutted and renovated home with new roof, new windows, new HVAC system, and a tankless water heater
- Open‑concept interior with refinished original hardwood oak flooring plus tile and laminate flooring
- Kitchen includes a spacious island, quartz countertops, and new appliances
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
$13,577
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
8.49%
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%
$271,540
$271.5K
Cap Rate 7%
$193,957
$194.0K
Cap Rate 9%
$150,856
$150.9K
Market Conditions
NOI Build-Up for 1,635 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
$26.5K $16.20/SF
− Vacancy
−$1.8K −$1.10/SF
EGI
$24.7K $15.10/SF
− OpEx
−$11.1K −$6.79/SF
NOI
$13.6K $8.30/SF
Area
Macon, GA
Vacancy
6.80%
Lease Rate
$16.20 /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%
$271,540
Cap Rate 7%
$193,957
Cap Rate 9%
$150,856
Alternative Uses
Best Use
Apartment 5plus
$194.0K
$169.7K – $226.3K
NOI $13,577 @ 7.0% cap · market cap 8.49%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$312.8K
$273.7K – $364.9K
NOI $21,896 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Fully renovated home with open-concept layout, new roof, windows, HVAC, tankless water heater, and added bathroom.
Where is this single family property located?
The property is located at 3483 Napier Avenue Macon, GA.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Fully gutted and renovated home with new roof, new windows, new HVAC system, and a tankless water heater; Open‑concept interior with refinished original hardwood oak flooring plus tile and laminate flooring; Kitchen includes a spacious island, quartz countertops, and new appliances
