Historic Mixed-Use
New
For Sale
$1,800,000
519 Plum St, Macon, GA 31201
Two connected buildings offer adaptable commercial space, loft-style accommodations, and a private landscaped courtyard in Downtown Macon.
Property Size13,777 SF
Days on Market2
Property Features for 519 Plum St
General Information
Standard status
Active
Size
13,777 SF
Property subtype
Retail - Street Retail
Additional Details
Fenced Yard
Yes
Amenities
private courtyard
Building Details
Building Size
13,777 SF
Year Built
1910
Buildings
2
Listing Agency:
Coldwell Banker Commercial Eberhardt & Barry
Listed By:
Stephanie Folsom · License #209962
(800) 926-0990
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 1 at 3:24PM
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 Coldwell Banker Commercial Eberhardt & Barry
Investment Insights
Based on property information with market context.
This mixed-use offering includes two connected buildings at 519 and 513 Plum Street with a private courtyard between them. The primary 10,200 SF+/- commercial building features an expansive open floor plan, 16'+/- ceilings, exposed structural beams, and historic architectural elements. Its layout can remain open or be reconfigured for a range of commercial applications.
The adjoining 3,577 SF+/- two-story building was built out in 2020/2021 and includes three bedrooms, multiple baths, living and flex areas, an eat-in kitchen, laundry/mudroom, and storage. The building opens onto a private, gated courtyard with mature landscaping, brick walkways, and artificial turf installed in 2021. Together, the buildings provide a distinctive combination of large-format commercial space, flexible secondary accommodations, and outdoor gathering space in Downtown Macon.
The adjoining 3,577 SF+/- two-story building was built out in 2020/2021 and includes three bedrooms, multiple baths, living and flex areas, an eat-in kitchen, laundry/mudroom, and storage. The building opens onto a private, gated courtyard with mature landscaping, brick walkways, and artificial turf installed in 2021. Together, the buildings provide a distinctive combination of large-format commercial space, flexible secondary accommodations, and outdoor gathering space in Downtown Macon.
Key Highlights
- 10,200 SF+/- primary commercial building with an expansive open interior
- 16'+/- ceilings, exposed structural beams, and historic architectural details
- Adjoining 3,577 SF+/- two‑story building built out in 2020/2021
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
$131,095
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
7.28%
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%
$2,621,900
$2.6M
Cap Rate 7%
$1,872,786
$1.9M
Cap Rate 9%
$1,456,611
$1.5M
Market Conditions
NOI Build-Up for 13,777 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
$198.4K $14.40/SF
− Vacancy
−$11.1K −$0.81/SF
EGI
$187.3K $13.59/SF
− OpEx
−$56.2K −$4.08/SF
NOI
$131.1K $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%
$2,621,900
Cap Rate 7%
$1,872,786
Cap Rate 9%
$1,456,611
Alternative Uses
Best Use
Retail
$1.87M
$1.64M – $2.18M
NOI $131,095 @ 7.0% cap · market cap 7.28%
Second Best
Mixed Use
$1.86M
$1.63M – $2.17M
NOI $130,193 @ 7.0% cap · market cap 7.23%
Theoretical Best
Healthcare Medical
$2.64M
$2.31M – $3.08M
NOI $184,502 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
3,419
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two connected buildings offer adaptable commercial space, loft-style accommodations, and a private landscaped courtyard in Downtown Macon.
Where is this mixed-use property located?
The property is located at 519 Plum St Macon, GA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 10,200 SF+/- primary commercial building with an expansive open interior; 16'+/- ceilings, exposed structural beams, and historic architectural details; Adjoining 3,577 SF+/- two‑story building built out in 2020/2021
