Add Listing
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    2015 Felton Ave Macon, GA 31201-2404

    • Office buildings
    • 17,284 SF
    • 1.80 lot acres
    OFF-MARKET
    Value Estimations
    $640,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2308069
    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

    • Fall Line Contractors, Inc. / Construction Company
    • Macon Housing Authority / Housing Authority
    • infillhousing / Student Housing Center

    Property Details for 2015 Felton Ave

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.80 lot acres
    Property size
    17,284 SF
    Zone code
    R-3
    Property type
    Office buildings
    APN
    P084-0023
    APU
    P0840023

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $885,000
      Current use
      AUTO REPAIR, GARAGE
      $1,010,000
      Change: +14% Conversion: Difficult
      MEDICAL BUILDING
      $820,000
      Change: -8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.6498
    Latitude
    32.824
    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
    $0.00
    $7,125
    $501,800
    $508,925
    -
    $17,813
    $1,254,499
    $1,272,312

    Comparable in this City

    • Value Estimation by Request
      3,694 SF

      366 Orange St

      OFFICE BUILDING • 3,694 SF
      366 Orange St, Macon, GA 31201
      View Details
    • Value Estimation by Request
      2,524 SF

      771 Orange St

      OFFICE BUILDING • 2,524 SF
      771 Orange St, Macon, GA 31201-2126
      View Details
    • Value Estimation
      $1,685,000
      20,256 SF

      691 Cherry St

      OFFICE BUILDING • 20,256 SF
      691 Cherry St, Macon, GA 31201-2666
      View Details
    • Value Estimation by Request
      1,465 SF

      1280 College St

      OFFICE BUILDING • 1,465 SF
      1280 College St, Macon, GA 31201-1814
      View Details
    • Value Estimation by Request
      5,460 SF

      338 Poplar St

      OFFICE BUILDING • 5,460 SF
      338 Poplar St, Macon, GA 31201-3334
      View Details
    • Value Estimation by Request
      1,200 SF

      929-939 2nd St

      OFFICE BUILDING • 1,200 SF
      929-939 2nd St, Macon, GA 31201
      View Details

    Similar Nearby for Sale

    • $495,000
      4,100 SF

      4,100 ± SF Professional / Medical Office Building For Sale

      4,100 ± SF Professional / Medical Office Building For Sale
      1867 Forsyth Street, Macon, GA 31201
      View Details
    • Contact for pricing
      12,320 SF

      Macon Executive Office Building

      12,320 SF Office, Ample Parking, High Visibility
      1691 Forsyth St, Macon, GA 31201
      View Details
    • $539,000
      6 SF

      Storefront Retail/Office Building For Sale

      6,732± SF, three-story storefront retail/office building in Macon, GA.
      391 2Nd St, Macon, GA 31201
      View Details
    • $250,000
      Pending

      Historic Macon Building with Versatility

      Versatile building near Mercer University, hospitals, downtown, and highways.
      1825 Hardeman Ave, Macon, GA 31201
      View Details
    • $450,000
      3,131 SF

      Downtown Macon Retail Opportunity

      High-traffic location, 3131 sq ft, $450,000
      722 Martin Luther King Jr Blvd, Macon, GA 31201
      View Details
    • New
      Contact for pricing
      0.16 Acres

      Residential Lot in Growing Area

      Vacant lot in Macon, GA, near downtown and amenities.
      237 Pursley St, Macon, GA 31201
      View Details

    Similar Nearby for Lease

    • $1,300 /Mo
      1,500 SF

      Thomas Jefferson Building For Lease

      Thomas Jefferson Building For Lease
      433 Cherry Street, Macon, GA 31201
      View Details
    • $2,000 /Mo
      10,000 SF

      Robert E Lee Building - Suite 201 - $2,000 Per Month

      Robert E Lee Building - Suite 201 - $2,000 Per Month
      830 Mulberry Street, Macon, GA 31201
      View Details
    • $198 SF/Yr
      2,550 SF

      Macon Office Space: 2550 sq ft

      Prime Macon office space available.
      1090 Washington Ave, Macon, GA 31201
      View Details
    • $14 SF/Yr
      19,075 SF

      Historic Macon Coworking Spaces

      Downtown Macon office suites, ample parking.
      200 Cherry St, Macon, GA 31201
      View Details
    • Contact for pricing
      300 SF

      Professional Office Suites For Rent

      Professional office suites available for lease.
      830 Mulberry St, Macon, GA 31201
      View Details
    • Contact for pricing
      4,000 SF

      Medical Office Space Available

      4,000 SF medical office space for lease.
      695 Orange St, Macon, GA 31201
      View Details
    Request Owner's contact information
    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.
    2015 Felton Ave
    Macon, GA 31201-2404
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!