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    Property profile & analytics

    1014 Gray Hwy, Unit Macon Macon, GA 31211

    • Drive through restaurants
    • 2,413 SF
    • 1.04 lot acres
    For Sale
    View listing
    $1,395,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2055798
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Drive through restaurants

    Property Details for 1014 Gray Hwy

    Year built
    2014
    Lot size
    1.04 lot acres
    Property size
    2,413 SF
    Zone code
    C-4
    Property type
    Drive through restaurants
    APN
    R064-0421
    APU
    R0640421

    Description

    This exceptional 2,413-square-foot former Hardee's quick-service restaurant (QSR) presents a unique investment opportunity. Built in 2014, the single-story building sits on a 1.04-acre lot at 1014 Gray Hwy in Macon, Georgia, zip code 31211. The property is entirely vacant and offers a convenient drive-thru lane, ideal for a variety of food service or retail concepts. Its strategic location in Macon, a thriving city with a population of 234,802, benefits from high visibility and accessibility. The area boasts a strong educational presence, including several colleges and universities, and is surrounded by numerous apartment complexes, ensuring a substantial customer base. The property's single-tenant configuration provides simplicity and ease of management. This is a rare chance to acquire a well-situated, ready-to-occupy commercial property in a dynamic market. The property's size and features make it suitable for a variety of uses, offering significant potential for future growth and return on investment. The 1.04-acre lot provides ample space for expansion or additional development. This is a turnkey opportunity for an investor seeking a high-traffic location in a growing city.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.6193
    Latitude
    32.8541
    CBSA code
    31420
    CBSA name
    MACON, GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $23,414
    $103,453
    $246,896
    $350,349
    -
    $258,632
    $617,240
    $875,872

    Comparable in this City

    • Value Estimation by Request
      2,636 SF

      1342 Gray Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,636 SF
      1342 Gray Hwy, Macon, GA 31211-1949
      View Details
    • Value Estimation by Request
      1,452 SF

      777 Shurling Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,452 SF
      777 Shurling Dr, Macon, GA 31211-1947
      View Details
    • Value Estimation by Request
      2,669 SF

      975 Gray Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,669 SF
      975 Gray Hwy, Macon, GA 31211-1855
      View Details
    • Value Estimation by Request
      3,501 SF

      1073 Gray Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,501 SF
      1073 Gray Hwy, Macon, GA 31211-1856
      View Details
    • Value Estimation by Request
      2,617 SF

      1140 Gray Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,617 SF
      1140 Gray Hwy, Macon, GA 31211-1867
      View Details
    • Value Estimation
      $710,000
      4,050 SF

      1188 Gray Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,050 SF
      1188 Gray Hwy, Macon, GA 31211-1849
      View Details

    Similar Nearby for Sale

    • $1,395,000
      2 SF

      Restaurant/Retail Building with Drive-Thru

      2,413 SF restaurant/retail building with drive-thru and walk-in cooler.
      1014 Gray Hwy, Macon, GA 31211
      View Details
    • $6,300,000
      2 SF

      Multi-Tenant Retail/Office Investment Opportunity

      36,600± SF retail/office center with 99% occupancy and high traffic.
      610-630 North Ave, Macon, GA 31211
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    • $600,000
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      Macon Mixed-Use Investment Opportunity

      Five buildings, strong rental income.
      765 Gray Hwy, Macon, GA 31211
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    • $550,000
      1,300 SF

      Downtown Golden Office Space

      Prime Golden Office: 1 Space Available
      705 Gray Hwy, Macon, GA 31211
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    • $7,000,000
      36,600 SF

      Macon Retail Center Investment

      Prime Macon shopping center, 36,600 SF.
      610 North Ave, Macon, GA 31211
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    • $485,000
      1,300 SF

      Former Shop/Service Center on Highway

      1,300 SF shop/service center on 0.69 AC for sale.
      705 Gray Hwy, Macon, GA 31211
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      119,413 SF

      Shurlington Plaza: Macon Retail Center

      Prime Macon retail space available.
      1605 Shurling Dr, Macon, GA 31211
      View Details
    • $12 SF/Yr

      Retail Space on Gray Highway

      Retail space available for lease on a major retail corridor.
      1040 Gray Hwy, Macon, GA 31211
      View Details
    • $12 SF/Yr
      16,500 SF

      Retail Space on Gray Highway

      Retail property available for lease with 16,500 square feet.
      1034-1040 Gray Hwy, Macon, GA 31211
      View Details
    • Contact for pricing
      626,828 SF

      Macon Industrial Land For Lease

      5-Acre Industrial Lot, Excellent Location
      0 Rd, Macon, GA 31211
      View Details
    • $2 SF/Yr
      24,230 SF

      Macon Industrial Property For Lease

      24,230 SF industrial property on 4.92 acres for lease.
      2255 Gray Hwy, Macon, GA 31211
      View Details
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    Macon, GA 31211
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    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
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