Leased Office Building For
For Sale
Contact for pricing
3931 Ridge Ave, Macon, GA 31210
2,904 SF office building on 1.17 acre lot.
Property Size2,904 SF
Lot Size1.17 Acres
Price / SF$111.91
Days on Market2465
Property Features for 3931 Ridge Ave
General Information
Standard status
Active
Size
2,904 SF
Class
C
Lot size
1.17 Acres
Property subtype
Office
Zoning
PDE
Occupancy
100%
Lease Type
Modified Gross
Building Details
Year Built
1953
Year Renovated
2019
Tenancy
Single
Listing Agency:
Coldwell Banker Commercial Eberhardt & Barry
Listed By:
Deidra Stewart · License #GA
(478) 508-2652
Source:
Crexi
Added: Jan 14, 2020
Changed: Oct 3
Last Checked: Oct 12 at 5:20PM
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 Coldwell Banker Commercial Eberhardt & Barry
Investment Insights
Based on property information with market context.
This 2,904 square foot office building, originally residential, offers a lobby/waiting area, four private offices, a break room, and three restrooms. Constructed in 1953, the property features central heat and air conditioning. Situated on a 1.17 acre corner lot, the property is zoned PDE. The 2022 property tax bill was $3,010. This property presents a great investment opportunity as it is currently leased.
Key Highlights
- Currently Leased: Provides immediate income.
- 2,904± SF:** Adaptable space for various uses.
- 1.17± Acre Corner Lot:** Offers potential for expansion.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,436
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$568,720
$568.7K
Cap Rate 7%
$406,229
$406.2K
Cap Rate 9%
$315,956
$316.0K
Market Conditions
NOI Build-Up for 2,904 SF
Gross rent
$55.8K $19.20/SF
− Vacancy
−$17.8K −$6.14/SF
EGI
$37.9K $13.06/SF
− OpEx
−$9.5K −$3.26/SF
NOI
$28.4K $9.79/SF
Area
Macon, GA
Vacancy
32.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$568,720
Cap Rate 7%
$406,229
Cap Rate 9%
$315,956
Alternative Uses
Best Use
Office B
$406.2K
$355.5K – $473.9K
NOI $28,436 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$555.6K
$486.1K – $648.2K
NOI $38,890 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
Explore this area
Business Placement
Demographics for 31210, GA
35,345
Population
15,768
Households
2.2
Avg Household Size
39
Median Age
48%
College-Educated
95%
High-School Grad
41.3 sq mi
ZIP Area
856
Density / Sq Mi
$82,158
Median Household Income
$44,231
Median Earnings
$1,260
Median Rent
$259,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - 2,904 SF office building on 1.17 acre lot.
Where is this office units located?
The property is located at 3931 Ridge Ave 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: Currently Leased: Provides immediate income.; 2,904± SF:** Adaptable space for various uses.; 1.17± Acre Corner Lot:** Offers potential for expansion.
