Mixed-Use Retail and
For Sale
$980,000
565 Poplar St, Macon, GA 31201
Three-unit property includes street-facing retail space and two renovated second-story apartments connected by an interior elevator.
Property Size8,322 SF
Price / SF$117.76
Days on Market196
Property Features for 565 Poplar St
General Information
Standard status
Active
Size
8,322 SF
Amenities
elevator
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Sheridan, Solomon & Associates
(478) 746-2000
Listed By:
Joanna Jones · License #218598
(478) 731-1302
Source:
Exprealty
Added: Feb 23
Changed: Sep 4
Last Checked: Sep 6 at 3:07PM
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.
The property consists of three units, with the downstairs configured as a commercial retail space featuring high ceilings, hardwood floors, and large street-facing windows. An interior elevator connects to two second-story left apartments, and both residential units have been renovated with hardwood floors and high ceilings.
Unit A is a 2-bedroom, 2-bath layout, and Unit B is a 3-bedroom, 3.5-bath home. Both units include tile baths and stainless steel appliance packages, including a refrigerator/freezer, range, microwave, dishwasher, and washer/dryer. Additional finishes include custom cabinets and granite countertops.
Overall, the building offers a mixed-use configuration with street exposure for the retail component and two separate, renovated apartment homes above, served by interior elevator access.
Unit A is a 2-bedroom, 2-bath layout, and Unit B is a 3-bedroom, 3.5-bath home. Both units include tile baths and stainless steel appliance packages, including a refrigerator/freezer, range, microwave, dishwasher, and washer/dryer. Additional finishes include custom cabinets and granite countertops.
Overall, the building offers a mixed-use configuration with street exposure for the retail component and two separate, renovated apartment homes above, served by interior elevator access.
Key Highlights
- Three‑unit property with street‑facing commercial retail space plus two second‑story apartments connected by an interior elevator
- Downstairs retail space has high ceilings, hardwood floors, large street‑facing windows, and approx. 4,250 SF
- Unit A is a renovated 2BR/2BA apartment with approx. 1,918 SF, hardwood floors, high ceilings, and tile baths
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
$79,188
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
8.08%
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%
$1,583,760
$1.6M
Cap Rate 7%
$1,131,257
$1.1M
Cap Rate 9%
$879,867
$879.9K
Market Conditions
NOI Build-Up for 8,322 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
$119.8K $14.40/SF
− Vacancy
−$6.7K −$0.81/SF
EGI
$113.1K $13.59/SF
− OpEx
−$33.9K −$4.08/SF
NOI
$79.2K $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%
$1,583,760
Cap Rate 7%
$1,131,257
Cap Rate 9%
$879,867
Alternative Uses
Best Use
Retail
$1.13M
$989.9K – $1.32M
NOI $79,188 @ 7.0% cap · market cap 8.08%
Second Best
Multifamily LT 5
$1.07M
$940.0K – $1.25M
NOI $75,197 @ 7.0% cap · market cap 7.67%
Theoretical Best
Healthcare Medical
$1.59M
$1.39M – $1.86M
NOI $111,448 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,471
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Three-unit property includes street-facing retail space and two renovated second-story apartments connected by an interior elevator.
Where is this duplex located?
The property is located at 565 Poplar St Macon, GA.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Three‑unit property with street‑facing commercial retail space plus two second‑story apartments connected by an interior elevator; Downstairs retail space has high ceilings, hardwood floors, large street‑facing windows, and approx. 4,250 SF; Unit A is a renovated 2BR/2BA apartment with approx. 1,918 SF, hardwood floors, high ceilings, and tile baths
