Mixed-Use Three-Unit
For Sale
Contact for pricing
565 Poplar Street, Macon, GA 31201
Three-unit property featuring a downstairs retail space and two renovated second-story apartments connected by an interior elevator.
Property Size8,322 SF
Price / SF$117.76
Days on Market193
Property Features for 565 Poplar Street
General Information
Standard status
Active
Size
8,322 SF
Property subtype
Retail, Land
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Units
1
Listing Agency:
Sheridan, Solomon & Associates
Listed By:
Joanna Jones · License #218598
(478) 731-1302
Source:
Crexi
Added: Feb 24
Changed: Sep 4
Last Checked: Aug 31 at 8:01AM
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.
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.
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 = 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
Current Use
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
Questions? Ask Rey
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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.
