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    2240 Gray Hwy Macon, GA 31211
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    Property profile & analytics

    2240 Gray Hwy Macon, GA 31211

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    • Hotels
    • 7,438 SF
    • 10.79 lot acres
    For Sale
    $1,100,000
    View Listing →
    Operational Motel with Ample Parking For Sale
    $1,100,000
    7,500 SF

    Operational Motel with Ample Parking

    Fully operational 17-unit motel with ample parking for sale.

    2240 Gray Hwy, Macon, GA 31211
    View Listing
    Property ID
    US22-2146155
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Courtesy Court Motel Home / Homestay / Hotel

    Property Details for 2240 Gray Hwy

    Year built
    1952
    Construction
    FRAME
    Lot size
    10.79 lot acres
    Property size
    7,438 SF
    Zone code
    C-4
    Property type
    Hotels
    APN
    S053-0011
    APU
    S0530011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.6092
    Latitude
    32.8793
    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
    $7,907
    $140,270
    $126,682
    $266,952
    -
    $350,675
    $316,706
    $667,381

    Comparable in this City

    • Value Estimation by Request
      1,274 SF

      2471 Clinton Rd

      HOTEL • 1,274 SF
      2471 Clinton Rd, Macon, GA 31211
      View Details
    • Value Estimation by Request
      1,800 SF

      2594 Old Gray Hwy

      MOTEL • 1,800 SF
      2594 Old Gray Hwy, Macon, GA 31211-6600
      View Details
    • Value Estimation by Request
      36,600 SF

      610 North Ave

      Lifestyle centers • 36,600 SF
      610 North Ave, Macon, GA 31211
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    • Value Estimation by Request
      0.33 Acres

      980 Clinton Rd

      VACANT COMMERCIAL LAND • 0.33 Acres
      980 Clinton Rd, Macon, GA 31211-1824
      View Details
    • Value Estimation by Request
      2.07 Acres

      860 Clinton Rd

      VACANT COMMERCIAL LAND • 2.07 Acres
      860 Clinton Rd, Macon, GA 31211-1822
      View Details
    • Value Estimation by Request
      15.95 Acres

      1051 Ga Hwy 49

      INDUSTRIAL - VACANT LAND • 15.95 Acres
      1051 Ga Hwy 49, Macon, GA 31211-7305
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,500 SF

      Operational Motel with Ample Parking

      Fully operational 17-unit motel with ample parking for sale.
      2240 Gray Hwy, Macon, GA 31211
      View Details
    • $7,000,000
      36,600 SF

      Macon Retail Center Investment

      Prime Macon shopping center, 36,600 SF.
      610 North Ave, Macon, GA 31211
      View Details
    • Contact for pricing

      96.36 AC Tract Available

      96.36 AC tract with frontage on Gray Highway and Joycliff Road.
      Gray Hwy At Joycliff Rd, Macon, GA 31211
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      14,828 SF

      Retail Space For Sale

      Retail space available with a 14.00% CAP rate.
      1280 Gray Hwy, Macon, GA 31211
      View Details
    • Contact for pricing

      Prime Commercial Land on Gray

      0.86 acre commercial land with high traffic and visibility.
      727 Gray Hwy, Macon, GA 31211
      View Details
    • Contact for pricing
      0.43 Acres

      Residential Land in Macon, GA

      Residential land with sloping topography in established Macon neighborhood.
      1987 Long Ridge Dr, Macon, GA 31211
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail/Flex Space with Dock

      Anchor retail or flex space featuring dock-high loading.
      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

      Retail or Office Space Available

      Retail or office space near Shurling Drive and Gray Highway.
      737 Shurling Dr, Macon, GA 31211
      View Details
    • Contact for pricing

      Industrial Land Parcel For Lease

      14.39 acre industrially zoned land parcel available for lease.
      Rd Lite-N-Tie, Macon, GA 31211
      View Details
    • Contact for pricing

      Retail Center Near Shurling Drive

      Multi-tenant retail center with suites for lease.
      1605 Shurling Dr, 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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    2240 Gray Hwy, Macon, GA, 31211
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