Building Details

Year Built 1900

Units 1

Listing Agency: Sheridan, Solomon & Associates

Listed By: Joanna Jones · License #218598 Show Phone

Source: Crexi

Added: Feb 24 Changed: Oct 6 Last Checked: Oct 19 at 4:17AM

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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

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Investment Insights

Based on property information with market context.

This three-unit property includes a downstairs commercial retail space and two second-story residential apartments. The retail area features high ceilings, hardwood floors, and large windows to the street. An interior elevator provides connection to the two second-story apartments, which have been renovated with hardwood floors and high ceilings.

Unit A is a 2-bedroom, 2-bath apartment. Unit B is a 3-bedroom, 3.5-bath apartment. Both apartments include tile in the baths and stainless-steel appliance packages, including a refrigerator/freezer, range, microwave, dishwasher, and washer/dryer. Additional in-unit finishes include custom cabinetry and granite countertops.

Overall, the building is configured as a mixed-use setup with retail frontage at street level and dedicated, renovated living units above, supported by internal vertical access via the elevator.

Key Highlights

• Three‑unit building with a downstairs commercial retail space and two second‑story apartments.
• Downstairs retail features high ceilings, hardwood floors, large street‑facing windows, and ~4,250 SF.
• Interior elevator connects the retail level to two second‑story left apartments.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$79,188

Cap Rate

8.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,583,760 $1.6M

Cap Rate 7%

$1,131,257 $1.1M

Cap Rate 9%

$879,867 $879.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,322 SF

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 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 (±1% cap)

NOI $79,188 @ 7.0% cap · market cap 8.08%

Second Best

Multifamily LT 5

$1.07M

$940.0K – $1.25M (±1% cap)

NOI $75,197 @ 7.0% cap · market cap 7.67%

Theoretical Best

Healthcare Medical

$1.59M

$1.39M – $1.86M (±1% cap)

NOI $111,448 @ 7.0% cap · market cap 11.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Locksmith Catering Service Pet Grooming Service (Bike/Boat/Book/etc) Store Acupuncture Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

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 Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Three-unit property featuring a downstairs retail space and two renovated second-story apartments connected by an interior elevator.

Where is this retail space located?

The property is located at 565 Poplar Street 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 building with a downstairs commercial retail space and two second‑story apartments.; Downstairs retail features high ceilings, hardwood floors, large street‑facing windows, and ~4,250 SF.; Interior elevator connects the retail level to two second‑story left apartments.