Mercer University Drive Investment
For Sale
Contact for pricing
4849 Mercer University Dr, Macon, GA 31210
Stabilized investment with leaseback in high-traffic Macon corridor.
Property Size3,136 SF
Lot Size0.33 Acres
Price / SF$151.47
Days on Market175
Property Features for 4849 Mercer University Dr
General Information
Standard status
Active
Size
3,136 SF
Class
C
Lot size
0.33 Acres
Property subtype
Office, Retail
Zoning
PDR - Planned Development Residential
Lease Type
NNN
Building Details
Year Built
1950
Buildings
1
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
KW Commercial First Atlanta
(404) 531-5700
Listed By:
Angie Ponsell · License #238030
Source:
Crexi
Added: Feb 19
Changed: Aug 8
Last Checked: Jul 20 at 9:48AM
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 KW Commercial First Atlanta
Investment Insights
Based on property information with market context.
The property at 4849 Mercer University Drive offers a stabilized investment opportunity in a high-traffic commercial area of Macon. The property includes approximately 3,150 square feet of space on a 0.33-acre lot. It benefits from frontage on Mercer University Drive, with approximately 21,700 vehicles passing daily, and offers good visibility. The building is currently configured as fully built-out salon suites, providing immediate income with an established tenant base. The sale includes a leaseback agreement, where the current owner will execute a five-year lease at $5,700 per month, plus utilities. This arrangement provides stable income and reduces transition risk for the new owner. Landlord expenses are limited, and utilities are passed through, offering a straightforward income stream in a high-exposure location. The property is located in a commercial area in North Macon, with surrounding retail, service, and office uses. It also features convenient access to major thoroughfares and on-site parking.
Key Highlights
- Sale with leaseback: Current owner will lease the property for five years at $5,700 per month plus utilities, providing immediate and stable income.
- High‑traffic location: Situated on Mercer University Drive with approximately 21,700 vehicles per day and excellent visibility.
- Fully built‑out salon suites: Currently operating as salon suites with an established tenant base, ensuring built‑in occupancy.
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
$29,841
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
6.28%
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%
$596,820
$596.8K
Cap Rate 7%
$426,300
$426.3K
Cap Rate 9%
$331,567
$331.6K
Market Conditions
NOI Build-Up for 3,136 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
$45.2K $14.40/SF
− Vacancy
−$2.5K −$0.81/SF
EGI
$42.6K $13.59/SF
− OpEx
−$12.8K −$4.08/SF
NOI
$29.8K $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%
$596,820
Cap Rate 7%
$426,300
Cap Rate 9%
$331,567
Alternative Uses
Best Use
Retail
$426.3K
$373.0K – $497.4K
NOI $29,841 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$600.0K
$525.0K – $700.0K
NOI $41,997 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
155k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 32%
Apparel 29%
Burlington
Apparel
33,050 visits/mo
0.3 miles
Burger King
Dining
16,733 visits/mo
0.2 miles
Circle K
Shops & Services
15,491 visits/mo
0.5 miles
Ollie's Bargain Outlet
Shops & Services
14,780 visits/mo
0.2 miles
Taco Bell
Dining
12,530 visits/mo
0.5 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Stabilized investment with leaseback in high-traffic Macon corridor.
Where is this retail space located?
The property is located at 4849 Mercer University Dr Macon, GA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Sale with leaseback: Current owner will lease the property for five years at $5,700 per month plus utilities, providing immediate and stable income.; High‑traffic location: Situated on Mercer University Drive with approximately 21,700 vehicles per day and excellent visibility.; Fully built‑out salon suites: Currently operating as salon suites with an established tenant base, ensuring built‑in occupancy.
