Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    765 Gray Hwy Macon, GA 31211

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Five buildings, strong rental income.

    Property size:
    836 SF

    Property Features for 765 Gray Hwy

    General Information

    Property type
    Individual retail properties
    Square Feet
    836 SF
    Lot Size
    6,098 SF

    Building Details

    Buildings
    5

    We can help!

    Listing Contact
    Lan Heath
    Lan Heath

    Listing Agency: Fickling & Company Listing Agent: Lan Heath

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional Macon, Georgia investment opportunity encompasses six parcels totaling 1.41 acres, strategically located at the intersection of Gray Highway and 2nd Street. The property features five buildings constructed between 1954 and 1986, offering a combined 836 to 22,612 square feet of space. The property's mixed-use nature includes retail space on Gray Highway parcels (zoned C-4), and light industrial space on Woolfolk Street and Clinton Road parcels (zoned C-2). Woolfolk Street is a county-owned easement. The Gray Highway parcels include addresses 755, 757, and 765 Gray Highway. The Woolfolk Street parcels are located at 223 and 249 Woolfolk Street, and the Clinton Road parcels are at 682 and 696 Clinton Road. This multi-tenant property benefits from its high-traffic location near established businesses such as Kroger, McDonald's, Krispy Kreme, Nu-Way Weiners, Budget Truck Rental, Bojangles, and Attaway Tire. The asking price for this income-producing asset is $600,000. APN numbers are R071-0066, R071-0088, R071-0089, R071-0090, and R071-0091. This presents a compelling opportunity for investors seeking a diversified portfolio with strong rental income potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Freestanding property

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Law Firm Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.62259456987
    Latitude
    32.850161555897

    Nearby Similar for Sale

    • $510,000
      2,809 SF

      Turnkey Auto Repair Business Opportunity

      Fully equipped auto repair business for sale in Macon, GA.
      2644 Houston Ave, Macon, GA 31206
      View Details
    • $995,000
      7,480 SF

      Macon Commercial Building Opportunity

      7,480 SF building in a rapidly developing area.
      2080 Bowman Park, Macon, GA 31210
      View Details
    • $210,000
      3,714 SF

      Macon Commercial Lot with Warehouse

      Commercial lot with warehouse and renovated office space in Macon.
      3019 Riggins Mill Rd, Macon, GA 31217
      View Details
    • $95,500
      2,934 SF

      Versatile Commercial Building Near Mercer

      Adaptable 2,934 SF building suitable for retail, warehouse, or housing.
      3017 Columbus Rd, Macon, GA 31204
      View Details
    • New
      $499,000
      30,837 SF

      Macon Commercial Redevelopment Opportunity

      5-acre commercial tract with redevelopment potential in Macon, GA.
      3468 Napier Ave, Macon, GA 31204
      View Details
    • $216,000
      3,313 SF

      Macon Place of Worship For Sale

      Place of worship with sanctuary, hall, and kitchen on 0.82 acres.
      3592 Log Cabin Dr, Macon, GA 31204
      View Details
    • New
      $225,000
      0.21 Acres

      Renovated Home with Income Potential

      Renovated home with apartment in up-and-coming historic Macon neighborhood.
      2694 Cherokee Ave, Macon, GA 31204
      View Details
    • $250,000
      Pending

      Macon Commercial Building For Sale

      Move-in ready building with additional leased space and ample parking.
      2660 Montpelier Ave, Macon, GA 31204
      View Details
    • $125,000

      Multi-Use Building in Macon, GA

      Adaptable building suitable for church, salon, office, or retail.
      3272 Jeffersonville Rd, Macon, GA 31217
      View Details
    • $950,000
      Pending

      Sprawling Church Campus For Sale

      Large church campus with sanctuary, classrooms, gymnasium, and offices.
      2270 Shurling Dr, Macon, GA 31211
      View Details
    • $280,000
      3,792 SF

      Macon Church Property For Sale

      Spacious church property in Macon, GA, ideal for ministry.
      1159 Scotland Ave, Macon, GA 31204
      View Details
    • $280,000
      3,792 SF

      Macon Church Property For Sale

      Spacious church in Macon, GA with sanctuary, offices, classrooms.
      1159 Scotland Ave, Macon, GA 31204
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Five buildings, strong rental income.
    Where is this individual retail property located?
    The property is located at 765 Gray Hwy Macon, GA.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Strong rental income potential.; Offers a blend of commercial and residential uses.; Property benefits from county-maintained Woolfolk Street easement.
    (478) 746-9421 Call to check price and availability
    Request Owner's contact information
    765 Gray Hwy Macon, GA 31211
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    765 Gray Hwy
    Macon, GA 31211
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    765 Gray Hwy Macon, GA 31211
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Lan Heath
    Lan Heath
    Real Estate License ID: 396487
    (478) 746-9421 (478) 731-5899
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!