Renovated Residential Income
For Sale
$250,000
624 Church Street, Macon, GA 31217
Commercial Sale, Macon, GA
Property Size1,463 SF
Lot Size0.11 Acres
Price / SF$170.88
Days on Market30
Property Features for 624 Church Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Corner Lot
Directions
Coliseum Dr right on to Fall Line Fwy Turn left onto Fort Hill St urn left onto Church St Home is on the right.
Standard status
Active
APN
R0720850
Size
1,463 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
575
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
security cameras
Building Details
Year built
1950
Flooring type
Vinyl, Hardwood
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Keller Williams Middle Georgia · Keller Williams Realty
(478) 333-5050
Listed By:
Alice Mobley
(478) 291-6464
Added: Sep 4
Changed: Sep 25
Last Checked: Oct 3 at 2:06PM
MLS# 10844560
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This furnished residential income property contains 1,463 square feet with four bedrooms and four bathrooms, giving each bedroom its own private ensuite. The residence was built in 1950 and has been renovated. Sale inclusions include the appliances and security cameras. Interior finishes include hardwood and vinyl flooring, with central electric heating and central air conditioning.
Set on 0.11 acres at 624 Church Street in Macon, the property is within walking distance of Piedmont Hospital and near Mercer University. Public water and public sewer serve the site, while cable service is available. The property is currently tenant-occupied.
Set on 0.11 acres at 624 Church Street in Macon, the property is within walking distance of Piedmont Hospital and near Mercer University. Public water and public sewer serve the site, while cable service is available. The property is currently tenant-occupied.
Key Highlights
- Four‑bedroom, four‑bath layout with a private ensuite for each bedroom
- 1,463 square feet on 0.11 acres
- Furnished and renovated residential income property
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
$12,149
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
4.86%
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%
$242,980
$243.0K
Cap Rate 7%
$173,557
$173.6K
Cap Rate 9%
$134,989
$135.0K
Market Conditions
NOI Build-Up for 1,463 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
$23.7K $16.20/SF
− Vacancy
−$1.6K −$1.10/SF
EGI
$22.1K $15.10/SF
− OpEx
−$9.9K −$6.79/SF
NOI
$12.1K $8.30/SF
Area
Macon, GA
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$242,980
Cap Rate 7%
$173,557
Cap Rate 9%
$134,989
Alternative Uses
Best Use
Apartment 5plus
$173.6K
$151.9K – $202.5K
NOI $12,149 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$279.9K
$244.9K – $326.5K
NOI $19,592 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
714
Businesses Nearby
Explore this area
Business Placement
Demographics for 31217, GA
17,808
Population
7,870
Households
2.3
Avg Household Size
40
Median Age
9%
College-Educated
84%
High-School Grad
107.8 sq mi
ZIP Area
165
Density / Sq Mi
$43,821
Median Household Income
$33,244
Median Earnings
$858
Median Rent
$95,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Furnished, tenant-occupied residence with private ensuite baths and included appliances.
Where is this residential income property located?
The property is located at 624 Church Street Macon, GA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Four‑bedroom, four‑bath layout with a private ensuite for each bedroom; 1,463 square feet on 0.11 acres; Furnished and renovated residential income property
