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Property profile & analytics
OFF-MARKET
Estimated value
$2,380,000
Strip malls
1372 Gray Hwy Macon, GA 31211-1952
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US22-2282086
Property summary
AI-generated overview
Market Square II, a Macon, Georgia retail property, offers a prime 1,200 square foot space for lease. This single-story, multi-tenant shopping center totals 22,474 square feet and is comprised of two buildings, each with eleven suites. The available space represents the minimum divisible unit, with a maximum contiguous space also at 1,200 square feet. Built in 1988, the property is zoned C2 and enjoys a highly visible location at 1372 Gray Hwy, Macon, GA 31211. Its strategic placement offers excellent exposure, situated next to a busy Dollar General Marketplace and directly across from a Walmart Supercenter, ensuring high foot traffic and strong visibility for potential tenants. This presents a unique opportunity for businesses seeking a well-established location within a thriving retail environment. The property's convenient access and proximity to major retailers make it an ideal location for a variety of retail uses. The available space is ready for immediate occupancy. Interested parties should inquire about lease terms and conditions.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1988
Total area
12,661 SF
Lot
3.41 ac (148,540 SF)
Zoning code
C-2
APN
R062-0246
UPID
US22-2282086
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Instant Tax Service Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.29M
CAP Approach
CAP
$2.15M
Comparable Approach
Comparable
$1.51M
Blend (final)
Blend
$2.38M
Owner & transaction history
Pgp Market Square 1 LLC · 3 yrs held
Pgp Market Square 1 LLC
since 2022
Last sale
$2.6M
7 recorded transactions
Zoning & alternative use
C-2 · Macon, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+91.9%
Medical building
$1.6M
+53.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Macon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Macon submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,310,000
ML approach
$2,290,000
CAP Approach
CAP Return
Estimation
6%
$2,330,000
6.5%
$2,150,000
7%
$2,000,000
Alternative Use
Use
Estimation
RESTAURANT
$2,030,000
Change: +92% · Conversion: Difficult
MEDICAL BUILDING
$1,625,000
Change: +53% · Conversion: Difficult
Blend value · Realmo final
$2.38M
Range $2.14M – $2.62M · ±10% · vs last sale $2.58M (Oct 6 2022)
Last sale anchor
$2.58M
Oct 6 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$188 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$28,424
Tax year 2023
Assessed value
$959,579
Assessed 2023
Previous assessed
$959,579
+0.0% YoY
Effective rate
2.96%
On assessed value
Assessed land
$356,496
Assessed improvement
$603,083
Land market value
$891,240
Improvement market value
$1,507,708
Total market value
$2,398,948
Applied tax rate
11.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1988
Heating
NONE
Cooling
YES
Buildings
3
Stories
1
Total area
12,661 SF
Lot
3.41 ac (148,540 SF)
Zoning code
C-2
APN
R062-0246
UPID
US22-2282086
Jurisdiction
BIBB
Zoning & alternative use
C-2 · Macon, GA
Zoning C-2 · permitted uses
C-2 · Macon, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Macon. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.6M
RESTAURANT
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Lot
3.41 ac
Current owner
From public records · entity-resolved
Pgp Market Square 1 LLC
Entity
Mailing address
141 PROVIDENCE RD STE #200, CHAPEL HILL, NC 27514-6200
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 6, 2022
$2,575,500
Pgp Market Square 1 LLC
East Bay Capital Partners II LLC
Quit Claim Deed
$1,550,000 · Symetra Life Insurance Co
Nov 23, 2020
—
East Bay Cap Ptrs II LLC
—
Deed
related
$1,365,000 · Southcrest Bk
Apr 4, 2019
$1,725,000
East Bay Capital Partners II LLC
Storage Master INC
Limited Warranty Deed
$150,000 · Oconee State Bank
Apr 4, 2019
—
East Bay Cap Ptrs II LLC
Storage Master INC
Quit Claim Deed
related
—
Jul 10, 2018
—
Ld Acquisition Company 16 LLC
—
Deed
related
$70,000,000 · Bokf NA
Nov 15, 2012
—
Colaparchee Partners LLC
Heritagebank Of The South
Quit Claim Deed
related
—
Nov 15, 2012
$2,450,000
Storage Master INC
Colaparchee Partners LLC
Grant Deed
$186,586 · Morris Bank
Oct 13, 2011
—
Colaparchee Partners LLC
—
Deed Of Trust
related
$1,650,000 · Capital City Bank
—
—
Colaparchee Partners LLC
—
Deed Of Trust
related
$1,007,875 · Regions Bank
—
—
Colaparchee Partners LLC
—
Loan Modification
related
$760,125 · Regions Bank
—
—
East Bay Cap Ptrs II LLC
—
Deed Of Trust
related
$1,365,000 · Southcrest Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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