Retail Space For
For Sale
Contact for pricing
4305 Mercer University Dr, Macon, GA 31206
Retail space with 14.00% CAP rate, 14,504 SqFt.
Property Size14,504 SF
Price / SF$162.02
Days on Market157
Property Features for 4305 Mercer University Dr
General Information
Standard status
Active
Size
14,504 SF
Total Parking Spaces
61
Property subtype
Retail
Zoning
C-1 (Neighborhood Commercial District)
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$376,740
Building Details
Year Built
2013
Listing Agency:
Pharma Property Group
(619) 297-0055
Listed By:
Jason Pongsrikul · License #CA 01918332
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Jul 23 at 8:12AM
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 Pharma Property Group
Investment Insights
Based on property information with market context.
This retail space, encompassing 14,504 square feet, is available for sale. The property is located at 4305 Mercer University Dr, Macon, GA 31206 and features a 14.00% CAP rate.
Key Highlights
- 14.00% CAP Rate
- 14,504 SqFt Retail Space**
- Built in 2013
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
$138,013
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
5.87%
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%
$2,760,260
$2.8M
Cap Rate 7%
$1,971,614
$2.0M
Cap Rate 9%
$1,533,478
$1.5M
Market Conditions
NOI Build-Up for 14,504 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
$208.9K $14.40/SF
− Vacancy
−$11.7K −$0.81/SF
EGI
$197.2K $13.59/SF
− OpEx
−$59.1K −$4.08/SF
NOI
$138.0K $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%
$2,760,260
Cap Rate 7%
$1,971,614
Cap Rate 9%
$1,533,478
Alternative Uses
Best Use
Retail
$1.97M
$1.73M – $2.30M
NOI $138,013 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.77M
$2.43M – $3.24M
NOI $194,238 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 10%
Home Improvements & Furnishings 7%
QuikTrip
Shops & Services
33,393 visits/mo
0.5 miles
Waffle House
Dining
5,607 visits/mo
0.5 miles
Raceway
Shops & Services
4,883 visits/mo
0.5 miles
Family Dollar
Shops & Services
4,106 visits/mo
0.4 miles
BP
Shops & Services
3,727 visits/mo
0.4 miles
Demographics for 31206, GA
26,519
Population
11,415
Households
2.3
Avg Household Size
33
Median Age
7%
College-Educated
79%
High-School Grad
26.6 sq mi
ZIP Area
997
Density / Sq Mi
$35,006
Median Household Income
$30,537
Median Earnings
$898
Median Rent
$84,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with 14.00% CAP rate, 14,504 SqFt.
Where is this retail space located?
The property is located at 4305 Mercer University Dr Macon, GA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 14.00% CAP Rate; 14,504 SqFt Retail Space**; Built in 2013
