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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2950 Riverside Dr Macon, GA 31204-1244

    • Outlet malls
    • 22,258 SF
    • 1.80 lot acres
    OFF-MARKET
    Last Sale
    Oct 03, 2024
    $850,000
    Value Estimations
    $850,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2113420
    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

    • Moore's Furniture / Oriental Rug Store / Outdoor Furniture Store

    Property Details for 2950 Riverside Dr

    Year built
    1970
    Construction
    CONCRETE BLOCKS
    Lot size
    1.80 lot acres
    Property size
    22,258 SF
    Zone code
    C-4
    Property type
    Outlet malls
    APN
    O051-0110
    APU
    O0510110

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $850,000
      ML approach
      $850,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,121,000
      Market price range: $725k - $2.49M

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

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.672
    Latitude
    32.8834
    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
    $11,824
    $228,569
    $170,617
    $399,186
    -
    $571,423
    $426,542
    $997,965

    Comparable in this City

    • Value Estimation
      $2,335,000
      84,218 SF

      400 Pio Nono Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 84,218 SF
      400 Pio Nono Ave, Macon, GA 31204-0941
      View Details
    • Value Estimation by Request
      2,620 SF

      3283 Vineville Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 2,620 SF
      3283 Vineville Ave, Macon, GA 31204-2343
      View Details
    • Value Estimation
      $1,670,000
      24,675 SF

      3337 Mercer University Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 24,675 SF
      3337 Mercer University Dr, Macon, GA 31204-5048
      View Details
    • Value Estimation by Request
      3,840 SF

      1741 Bethlea Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 3,840 SF
      1741 Bethlea Ave, Macon, GA 31204-5899
      View Details
    • Value Estimation by Request
      5,760 SF

      3171 Mercer University Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 5,760 SF
      3171 Mercer University Dr, Macon, GA 31204-5149
      View Details
    • Value Estimation
      $18,460,000
      132,423 SF

      4701 Log Cabin Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 132,423 SF
      4701 Log Cabin Dr, Macon, GA 31204-6318
      View Details

    Similar Nearby for Sale

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      Move-in Ready Medical Building

      Medical building with additional leased building, convenient location.
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      Ingleside Village Antique Centre

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      Macon Commercial/Industrial Opportunity

      High visibility commercial property with ample parking in Macon, GA.
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    • $2,500,000
      25,300 SF

      High Traffic Macon Retail Space

      25,300 SF Retail/Warehouse, Excellent Visibility
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    Similar Nearby for Lease

    • $16 SF/Yr
      21,450 SF

      Macon Retail Center Opportunity

      High-traffic Macon retail space available.
      2980 Riverside Dr, Macon, GA 31204
      View Details
    • $1,600 /Mo
      600 SF

      Retail or Office Space Available

      600 SF retail or office space for lease.
      871-881 Lee Rd, Macon, GA 31204
      View Details
    • Contact for pricing
      15,000 SF

      Retail Space in Self-Storage Facility

      15,000 SF retail space for lease near Pio Nono.
      400 Pio Nono Ave, Macon, GA 31204
      View Details
    • $16 SF/Yr
      1,150 SF

      Retail Space in Ingleside Village

      Retail space for lease in a lively, community-focused environment.
      2308 Ingleside Ave, Macon, GA 31204
      View Details
    • $900 /Mo
      9,583 SF

      Renovated Retail Space Available

      900 SF renovated retail space in Macon, GA for lease.
      3108 Vineville Ave, Macon, GA 31204
      View Details
    • $8 SF/Yr
      25,300 SF

      High Traffic Macon Retail Space

      25,300 SF Retail/Warehouse, Macon, GA
      3260 Mercer University Dr, Macon, GA 31204
      View Details
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    2950 Riverside Dr
    Macon, GA 31204-1244
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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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