Historic Mixed-Use
New
For Sale
$1,800,000
519 Plum Street 513 Plum Street, Macon, GA 31201
Two connected offerings provide commercial, loft, flex, and courtyard components within Macon’s downtown core.
Property Size13,777 SF
Days on Market5
Property Features for 519 Plum Street 513 Plum Street
General Information
Standard status
Active
Size
13,777 SF
Property subtype
Retail
Zoning
CBD
Amenities
private courtyard
Building Details
Building Size
13,777 SF
Buildings
2
Listing Agency:
Coldwell Banker Commercial | Eberhardt & Barry
(478) 746-8171
Listed By:
Stephanie Folsom · License #209962
(478) 746-8171
Source:
Cbcworldwide
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 30 at 12:51PM
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.
The offering includes two historic multi-use properties at 519 Plum Street and 513 Plum Street in Macon. The assemblage combines commercial space at one address with loft and flex space at the other, along with a private courtyard.
Located in Downtown Macon and zoned CBD, the properties present a combined commercial configuration suited to varied occupancy or redevelopment concepts. The separate addresses and mix of interior and exterior components provide a broader footprint than a single-use building.
Located in Downtown Macon and zoned CBD, the properties present a combined commercial configuration suited to varied occupancy or redevelopment concepts. The separate addresses and mix of interior and exterior components provide a broader footprint than a single-use building.
Key Highlights
- Two historic multi‑use properties at 519 Plum Street and 513 Plum Street
- Commercial space at 519 Plum Street
- Loft and flex space at 513 Plum Street
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
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two connected offerings provide commercial, loft, flex, and courtyard components within Macon’s downtown core.
Where is this mixed-use property located?
The property is located at 519 Plum Street 513 Plum Street 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: Two historic multi‑use properties at 519 Plum Street and 513 Plum Street; Commercial space at 519 Plum Street; Loft and flex space at 513 Plum Street
