15-Unit Downtown Apartment
895 Mulberry Street, Macon, GA 31201
For Sale
New
$1,300,000
Studio, one-bedroom and two-bedroom residences occupy a multi-parcel property with on-site parking.
Property Size8,642 SF
Price / SF$150.43
Days on Market4
Property Features for 895 Mulberry Street
General Information
Standard status
Size
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
true
Public Records
Square Feet
City Lot,Corner Lot
Public
29185.2
0.67
On Street,Parking Lot
8642
6
Building Details
Building Size
Year Built
Listing Agency:
Vesta Consolidated Realty
Listed By:
Benjamin Sapp · License GA #365132
(478) 955-8709
Source:
Srasignaturerealty
Added: Nov 8
Changed: Nov 10
Last Checked: Nov 10 at 4:20PM
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 Vesta Consolidated Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 15-unit apartment property spans three parcels and includes studio, one-bedroom and two-bedroom residences. The buildings date to 1890 and contain 8,642 square feet across a 0.67-acre site. On-site parking is included, with additional on-street parking noted for the property.
At the corner of Mulberry Street and Spring Street in downtown Macon, the property is near Mercer University, Atrium Health Navicent, government offices, restaurants, shops and entertainment venues.
At the corner of Mulberry Street and Spring Street in downtown Macon, the property is near Mercer University, Atrium Health Navicent, government offices, restaurants, shops and entertainment venues.
Key Highlights
- 15 apartments across three parcels
- Unit mix includes studios, one‑bedroom and two‑bedroom apartments
- 8,642 square feet on 0.67 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,764
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,435,280
$1.4M
Cap Rate 7%
$1,025,200
$1.0M
Cap Rate 9%
$797,378
$797.4K
Market Conditions
NOI Build-Up for 8,642 SF
Gross rent
$140.0K $16.20/SF
− Vacancy
−$9.5K −$1.10/SF
EGI
$130.5K $15.10/SF
− OpEx
−$58.7K −$6.79/SF
NOI
$71.8K $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 Rate 5%
$1,435,280
Cap Rate 7%
$1,025,200
Cap Rate 9%
$797,378
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$897.1K – $1.20M
NOI $71,764 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.65M
$1.45M – $1.93M
NOI $115,734 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
3,581
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Studio, one-bedroom and two-bedroom residences occupy a multi-parcel property with on-site parking.
Where is this apartment building located?
The property is located at 895 Mulberry Street Macon, GA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 15 apartments across three parcels; Unit mix includes studios, one‑bedroom and two‑bedroom apartments; 8,642 square feet on 0.67 acres
