Storefront Building with Walk-In
For Sale
$399,000
Pending
3620 Riverside Dr, Macon, GA 31210
One-level commercial layout includes storage and office areas for flexible retail or service use.
Property Size1,580 SF
Days on Market242
Property Features for 3620 Riverside Dr
General Information
Standard status
Pending
Size
1,580 SF
Additional Details
Road Access
Yes
Building Details
Buildings
1
Stories
1
Listing Agency:
Sheridan, Solomon & Associates
(478) 714-2133
Listed By:
Patti Chapman · License #272829
(478) 714-2133
Source:
Exprealty
Added: Jan 1
Changed: Aug 30
Last Checked: Aug 30 at 1:53PM
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 Sheridan, Solomon & Associates
Investment Insights
Based on property information with market context.
This 1,580-square-foot storefront property occupies a single level on Riverside Drive in Macon, Georgia. The layout includes a walk-in freezer, storage room, and office area, with high ceilings and natural light supporting retail, showroom, service, medical, or office functions. The building previously operated as a Waffle House for more than 30 years.
The property is positioned along Riverside Drive, a thoroughfare identified in the source information as having ongoing daily traffic and storefront exposure. Its one-level configuration provides convenient access throughout the interior, while the existing commercial layout offers several defined areas for operations, storage, and administration. Plug-in mobile AC units are not included with the building.
The property is positioned along Riverside Drive, a thoroughfare identified in the source information as having ongoing daily traffic and storefront exposure. Its one-level configuration provides convenient access throughout the interior, while the existing commercial layout offers several defined areas for operations, storage, and administration. Plug-in mobile AC units are not included with the building.
Key Highlights
- 1,580‑square‑foot storefront property on Riverside Drive in Macon, Georgia
- Walk‑in freezer included with the building
- Dedicated storage room and office area
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
$15,035
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
3.77%
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%
$300,700
$300.7K
Cap Rate 7%
$214,786
$214.8K
Cap Rate 9%
$167,056
$167.1K
Market Conditions
NOI Build-Up for 1,580 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
$22.8K $14.40/SF
− Vacancy
−$1.3K −$0.81/SF
EGI
$21.5K $13.59/SF
− OpEx
−$6.4K −$4.08/SF
NOI
$15.0K $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%
$300,700
Cap Rate 7%
$214,786
Cap Rate 9%
$167,056
Alternative Uses
Best Use
Retail
$214.8K
$187.9K – $250.6K
NOI $15,035 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$302.3K
$264.5K – $352.7K
NOI $21,159 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
787
Businesses Nearby
501k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 15%
Groceries 12%
Hotels & Casinos 4%
Kroger
Groceries
59,960 visits/mo
0.4 miles
Chick-fil-A
Dining
56,578 visits/mo
0.3 miles
Starbucks
Dining
30,610 visits/mo
0.2 miles
Cracker Barrel Old Country Store
Dining
23,977 visits/mo
0.5 miles
Kroger Fuel Center
Shops & Services
23,779 visits/mo
0.3 miles
Demographics for 31210, GA
35,345
Population
15,768
Households
2.2
Avg Household Size
39
Median Age
48%
College-Educated
95%
High-School Grad
41.3 sq mi
ZIP Area
856
Density / Sq Mi
$82,158
Median Household Income
$44,231
Median Earnings
$1,260
Median Rent
$259,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Kroger Floral — 220 Tom Hill Sr Blvd, Macon, GA 31210
Frequently Asked Questions
What type of property is this?
Storefront property - One-level commercial layout includes storage and office areas for flexible retail or service use.
Where is this storefront property located?
The property is located at 3620 Riverside Dr Macon, GA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,580‑square‑foot storefront property on Riverside Drive in Macon, Georgia; Walk‑in freezer included with the building; Dedicated storage room and office area
