Highway Storefront
For Sale
$325,000
7108 GA 247 Highway, Macon, GA 31216
COMMERCIAL, Macon, GA
Property Size2,842 SF
Lot Size0.92 Acres
Price / SF$114.36
Days on Market928
Property Features for 7108 GA 247 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Subdivision
Bibb County
Standard status
Active
Size
2,842 SF
Lot size
0.92 Acres
Listing Agency:
RPI REAL ESTATE SERVICES
Listed By:
Bill Waldorf · License #182018
(478) 954-5665
Added: Mar 20, 2024
Changed: Sep 16
Last Checked: Oct 3 at 3:06PM
MLS# 241829
Copyright © 2026 Central Georgia MLS. 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 C-zoned storefront property at 7108 GA 247 Highway in Macon contains 2,842 square feet on a 0.9183-acre parcel. The building previously operated as an automotive parts store for many years, providing a documented retail-oriented use history.
The property is located near the airport and Smiley’s Flea Market, both identified as nearby area destinations. Its highway address and commercial zoning support continued consideration for storefront-oriented occupancy, subject to applicable approvals and site requirements.
The property is located near the airport and Smiley’s Flea Market, both identified as nearby area destinations. Its highway address and commercial zoning support continued consideration for storefront-oriented occupancy, subject to applicable approvals and site requirements.
Key Highlights
- 2,842‑square‑foot storefront building
- 0.9183‑acre commercial parcel
- C zoning designation
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
$27,043
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
8.32%
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%
$540,860
$540.9K
Cap Rate 7%
$386,329
$386.3K
Cap Rate 9%
$300,478
$300.5K
Market Conditions
NOI Build-Up for 2,842 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
$40.9K $14.40/SF
− Vacancy
−$2.3K −$0.81/SF
EGI
$38.6K $13.59/SF
− OpEx
−$11.6K −$4.08/SF
NOI
$27.0K $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%
$540,860
Cap Rate 7%
$386,329
Cap Rate 9%
$300,478
Alternative Uses
Best Use
Specialty Retail
$448.4K
$392.4K – $523.2K
NOI $31,389 @ 7.0% cap · market cap 9.66%
Second Best
Retail
$386.3K
$338.0K – $450.7K
NOI $27,043 @ 7.0% cap · market cap 8.32%
Theoretical Best
Healthcare Medical
$543.7K
$475.8K – $634.3K
NOI $38,060 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
11k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
6,319 visits/mo
0.3 miles
Sunoco
Shops & Services
4,728 visits/mo
0.4 miles
Demographics for 31216, GA
16,379
Population
6,439
Households
2.5
Avg Household Size
44
Median Age
19%
College-Educated
89%
High-School Grad
57.4 sq mi
ZIP Area
285
Density / Sq Mi
$70,166
Median Household Income
$45,618
Median Earnings
$1,107
Median Rent
$192,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - C-zoned commercial building on nearly one acre with a prior automotive retail use.
Where is this storefront property located?
The property is located at 7108 GA 247 Highway Macon, GA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,842‑square‑foot storefront building; 0.9183‑acre commercial parcel; C zoning designation
