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

    2960 Riverside Dr Macon, GA 31204-1275

    • Office Properties & Spaces
    • 40,680 SF
    • 4.30 lot acres
    OFF-MARKET
    Last Sale
    Oct 04, 2024
    $3,760,000
    Value Estimations
    $3,760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2355601
    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

    • Payne & Powell Insurance / Insurance Broker
    • Morgan & Morgan / Law Firm / Business Attorney
    • Kirby of Middle Georgia / Vacuum Cleaner Store / Cleaning Products Supplier
    • Schneider Electric / Energy Equipment And Solutions
    • Rachel Harbour-Jump, Realtor at Fickling & Company / Real Estate Agent

    Property Details for 2960 Riverside Dr

    Year built
    1970
    Construction
    FRAME
    Lot size
    4.30 lot acres
    Property size
    40,680 SF
    Zone code
    C-4
    Property type
    Office Properties & Spaces
    APN
    O051-0079
    APU
    O0510079

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,760,000
      ML approach
      $3,760,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,468,000
      Market price range: $1.83M - $4.65M
      AI Estimate
      $4,427,000
      Market price range: $2.31M - $5.74M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,180,000
      Current use
      MEDICAL BUILDING
      $5,220,000
      Change: +64% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,400,000
      Change: +7% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,085,000
      Change: -3% Conversion: Moderate
      RETAIL STORES
      $2,850,000
      Change: -10% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,845,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.6732
    Latitude
    32.8844
    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
    $35,832
    $420,539
    $1,038,902
    $1,459,441
    -
    $1,051,347
    $2,597,255
    $3,648,602

    Comparable in this City

    • Value Estimation by Request
      1,456 SF

      2080 Ingleside Ave

      OFFICE (GENERAL) • 1,456 SF
      2080 Ingleside Ave, Macon, GA 31204-2028
      View Details
    • Value Estimation by Request
      3,090 SF

      3880 Lk St

      OFFICE (GENERAL) • 3,090 SF
      3880 Lk St, Macon, GA 31204-2230
      View Details
    • Value Estimation by Request
      1,447 SF

      3004 Napier Ave

      OFFICE (GENERAL) • 1,447 SF
      3004 Napier Ave, Macon, GA 31204-3833
      View Details
    • Value Estimation by Request
      1,696 SF

      2116 Riverside Dr

      OFFICE (GENERAL) • 1,696 SF
      2116 Riverside Dr, Macon, GA 31204-1747
      View Details
    • Value Estimation by Request
      1,592 SF

      145 Oakridge Ave

      OFFICE (GENERAL) • 1,592 SF
      145 Oakridge Ave, Macon, GA 31204
      View Details
    • Value Estimation by Request
      1,830 SF

      176 Pierce Ave

      OFFICE (GENERAL) • 1,830 SF
      176 Pierce Ave, Macon, GA 31204-2871
      View Details

    Similar Nearby for Sale

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      Medical building with additional leased building, convenient location.
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      Freestanding Retail Building on Mercer

      8,692 SF retail building on 0.78 acre lot.
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    • Contact for pricing
      0.17 Acres

      Residential Lot in Macon, GA

      Residential lot, 0.17 acres, ready for new home or investment.
      1463 Berkner Ave Ave, Macon, GA 31204
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    • $499,000

      Macon Commercial Property For Sale

      Two commercial spaces at a high-traffic location, priced below tax value.
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    Similar Nearby for Lease

    • $12 SF/Yr
      1,200 SF

      Office Space For Lease

      Office space for lease in high traffic area.
      1741 Bethlea Ave, Macon, GA 31204
      View Details
    • $36 SF/Yr
      429 SF

      Offices on Ingleside Avenue

      Multiple office suites available for rent on Ingleside Avenue.
      2484 Ingleside Ave, 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
    • $10 SF/Yr
      1,477 SF

      Professional Office Building For Rent

      Well-maintained office building with reception, offices, and conference room.
      2278 Ingleside Ave, Macon, GA 31204
      View Details
    • $7 SF/Yr
      10,500 SF

      Macon Office Warehouse Space

      Versatile Macon Office/Warehouse, Two Suites Available
      3100 Mercer University Dr, Macon, GA 31204
      View Details
    • $12 SF/Yr
      4,500 SF

      Modern Medical Office Building

      4,500 SF medical office near hospitals and I-75.
      376 Rogers Ave, Macon, GA 31204
      View Details
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    2960 Riverside Dr
    Macon, GA 31204-1275
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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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