Three-Unit
For Sale
$169,900
856 Center St, Macon, GA 31217
Configured residential property with a studio, a two-bedroom unit, and a one-bedroom unit with one bathroom.
Property Size1,808 SF
Price / SF$93.97
Days on Market220
Property Features for 856 Center St
General Information
Standard status
Active
Size
1,808 SF
Property subtype
Residential Income
Units
Unit Mix
1 x studio, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Buildings
1
Listing Agency:
Realty Unlimited, LLC
(478) 731-1846
Listed By:
Tee Young · License #104732
(478) 731-1846
Source:
Exprealty
Added: Jan 23
Changed: Aug 30
Last Checked: Aug 30 at 8:30PM
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 Realty Unlimited, LLC
Investment Insights
Based on property information with market context.
Located at 856 Center St in Macon, GA, this 1,808-square-foot residential property has been arranged as a triplex with three distinct living units. The configuration includes Unit A, a one-bedroom studio; Unit B, a two-bedroom, one-bath unit; and Unit C, a one-bedroom, one-bath unit.
Each unit provides separate living space within the property, supporting a range of residential arrangements. The layout may suit an investor seeking multiple units or an owner-occupant looking to combine personal use with additional residential occupancy. The property is classified as a triplex.
Each unit provides separate living space within the property, supporting a range of residential arrangements. The layout may suit an investor seeking multiple units or an owner-occupant looking to combine personal use with additional residential occupancy. The property is classified as a triplex.
Key Highlights
- Three separate residential units within a 1,808‑square‑foot property
- Unit A configured as a one‑bedroom studio
- Unit B offers 2 bedrooms and 1 bathroom
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
$15,014
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
8.84%
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%
$300,280
$300.3K
Cap Rate 7%
$214,486
$214.5K
Cap Rate 9%
$166,822
$166.8K
Market Conditions
NOI Build-Up for 1,808 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
$29.3K $16.20/SF
− Vacancy
−$2.0K −$1.10/SF
EGI
$27.3K $15.10/SF
− OpEx
−$12.3K −$6.79/SF
NOI
$15.0K $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%
$300,280
Cap Rate 7%
$214,486
Cap Rate 9%
$166,822
Alternative Uses
Best Use
Multifamily LT 5
$233.4K
$204.2K – $272.3K
NOI $16,337 @ 7.0% cap · market cap 9.62%
Second Best
Apartment 5plus
$214.5K
$187.7K – $250.2K
NOI $15,014 @ 7.0% cap · market cap 8.84%
Theoretical Best
Healthcare Medical
$345.9K
$302.7K – $403.6K
NOI $24,213 @ 7.0% cap · market cap 14.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
788
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Configured residential property with a studio, a two-bedroom unit, and a one-bedroom unit with one bathroom.
Where is this triplex located?
The property is located at 856 Center St Macon, GA.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Three separate residential units within a 1,808‑square‑foot property; Unit A configured as a one‑bedroom studio; Unit B offers 2 bedrooms and 1 bathroom
