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Property profile & analytics
OFF-MARKET
Estimated value
$1,055,000
Strip malls
2129 Riverside Dr Macon, GA 31204-6900
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US22-2357178
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1983
Total area
10,800 SF
Lot
0.96 ac (41,818 SF)
Zoning code
C-4
APN
P064-0179
UPID
US22-2357178
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
-
Oglethorpe Realty Company Real Estate Agency
-
BRANDED WELLNESS Physician
-
Maria Socorro Andrada Physician
-
Line X Of Macon Auto Parts Store
-
Sherwin-Williams Paint Store Paintings Store Wallpaper Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$925k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.06M
Owner & transaction history
Franzenburg Ga LLC · 4 yrs held
Franzenburg Ga LLC
since 2021
Last sale
$1.1M
5 recorded transactions
Zoning & alternative use
C-4 · Macon, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
1 - R-3 Multifamily Chapter 12 - C-1 Neighborhood Commercial District Chapter 13 - C-2 General Commercial District Chapter 13A - CBD-1 Central Business District Chapter 13B - CBD-2 Central Business District Chapter 14 - C-4 Highway Commercial District Chapter 15 - C-5 Neighborhood Convenience Center District Chapter 16 - M-1 Wholesale and Light Industrial Di…
Zone name
Highway Commercial District
General category
COMMERCIAL
Zone area
716.66 ac
Source
Planning & Zoning Commission
Top alternative use upside
Restaurant
$1.7M
+91.9%
Medical building
$1.4M
+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
$940,000
ML approach
$925,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$905,000
Current use
RESTAURANT
$1,730,000
Change: +92% · Conversion: Difficult
MEDICAL BUILDING
$1,385,000
Change: +53% · Conversion: Difficult
COMMERCIAL (GENERAL)
$845,000
Change: -6% · Conversion: Easy
INDUSTRIAL (GENERAL)
$820,000
Change: -9% · Conversion: Difficult
RETAIL STORES
$755,000
Change: -16% · Conversion: Easy
AUTO REPAIR, GARAGE
$755,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $950k – $1.16M · ±10% · vs last sale $1.08M (Nov 29 2021)
Last sale anchor
$1.08M
Nov 29 2021
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
$98 / 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
$13,724
Tax year 2023
Assessed value
$469,935
Assessed 2023
Previous assessed
$469,935
+0.0% YoY
Effective rate
2.92%
On assessed value
Assessed land
$148,068
Assessed improvement
$321,867
Land market value
$370,170
Improvement market value
$804,668
Total market value
$1,174,838
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
Similar Nearby for Lease
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
1983
Heating
NONE
Cooling
YES
Stories
1
Total area
10,800 SF
Lot
0.96 ac (41,818 SF)
Zoning code
C-4
APN
P064-0179
UPID
US22-2357178
Jurisdiction
BIBB
Zoning & alternative use
C-4 · Macon, GAZoning C-4 · permitted uses
C-4 · Macon, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
1 - R-3 Multifamily Chapter 12 - C-1 Neighborhood Commercial District Chapter 13 - C-2 General Commercial District Chapter 13A - CBD-1 Central Business District Chapter 13B - CBD-2 Central Business District Chapter 14 - C-4 Highway Commercial District Chapter 15 - C-5 Neighborhood Convenience Center District Chapter 16 - M-1 Wholesale and Light Industrial District Chapter 17 - M-2 Heavy Industrial District Chapter 18 - M-3 Heavy Industrial
Zone name
Highway Commercial District
General category
COMMERCIAL
Zone area
716.66 ac
Source
Planning & Zoning Commission
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$905,000
RESTAURANT
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$845,000
INDUSTRIAL (GENERAL)
Est. value
$820,000
RETAIL STORES
Est. value
$755,000
AUTO REPAIR, GARAGE
Est. value
$755,000
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
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
1983
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.96 ac
Current owner
From public records · entity-resolved
Franzenburg Ga LLC
Entity
Mailing address
2301 DEAN AVE, DES MOINES, IA 50317-2245
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2021
$1,080,000
Franzenburg Ga LLC
Rudy Farms INC
Limited Warranty Deed
$864,000 · Lincoln Savings Bank
Sep 13, 2016
—
Kw Pawn INC
—
Deed
related
$595,000 · United Bank
Jul 16, 2012
—
Kw Pawn INC
H & T Holdings LLC
Grant Deed
related
—
Jun 27, 2012
$750,000
Kw Pawn INC
H & T Holdings LLC
Grant Deed
$601,068 · Plantersfirst
Jun 22, 2012
$750,000
Kw Pawn INC
H&t Holdings LLC
Grant Deed
—
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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