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

    2973 Houston Ave Macon, GA 31206-2247

    • Retail space
    • 6,461 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    May 13, 2022
    $1,500,000
    Value Estimations
    $1,245,000
    Show details
    Cap Rate Potential
    4.6%
    Retail space
    Location Intelligence
    Property ID
    US22-2192498
    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

    • Retail space

    Property Details for 2973 Houston Ave

    Year built
    1957
    Lot size
    0.25 lot acres
    Property size
    6,461 SF
    Zone code
    C-2
    Property type
    Retail space
    APN
    P092-0409
    APU
    P0920409

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,345,000
      ML approach
      $1,350,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,025,000
      6.5%
      $945,000
      7%
      $880,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,035,000
      MEDICAL BUILDING
      $830,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.6482
    Latitude
    32.8077
    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
    $3,694
    $21,080
    $103,622
    $124,702
    -
    $52,700
    $259,055
    $311,755

    Comparable in this City

    • Value Estimation
      $240,000
      3,340 SF

      2291 2nd St

      RETAIL STORES (PERSONAL SERVICES) • 3,340 SF
      2291 2nd St, Macon, GA 31206-2164
      View Details
    • Value Estimation
      $230,000
      1,581 SF

      1192 Hightower Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,581 SF
      1192 Hightower Rd, Macon, GA 31206-2904
      View Details
    • Value Estimation
      $230,000
      4,258 SF

      3989 Houston Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,258 SF
      3989 Houston Ave, Macon, GA 31206-2515
      View Details
    • Value Estimation by Request
      8,000 SF

      2529 Houston Ave

      Individual retail properties • 8,000 SF
      2529 Houston Ave, Macon, GA 31206
      View Details
    • Value Estimation
      $205,000
      1,138 SF

      4091 Houston Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,138 SF
      4091 Houston Ave, Macon, GA 31206-2566
      View Details
    • Value Estimation
      $245,000
      646 SF

      5564 Bethesda Ave

      RETAIL STORES (PERSONAL SERVICES) • 646 SF
      5564 Bethesda Ave, Macon, GA 31206-4446
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      74,596 SF

      Macon Retail Opportunity on Eisenhower

      Retail property on 7.09 acres, available February 2026.
      1689 Eisenhower Pkwy, Macon, GA 31206
      View Details
    • $899,000
      6 SF

      Showroom and Warehouse with Visibility

      7,980 SF showroom and warehouse with interstate visibility.
      4661 Chambers Rd, Macon, GA 31206
      View Details
    • $1,395,000
      11,800 SF

      Macon Retail Investment Opportunity

      Family Dollar-anchored, high-yield retail property.
      4925 Bloomfield Rd, Macon, GA 31206
      View Details
    • $1,395,000
      11,800 SF

      Family Dollar Anchored Retail Site

      High-yield Macon, GA investment.
      4925 Bloomfield Rd, Macon, GA 31206
      View Details
    • $149,000
      2.01 Acres

      Macon Commercial Land - $149K

      Prime Macon location, 2+ acres, C-1 zoning.
      4306 Houston Ave, Macon, GA 31206
      View Details
    • $105,000
      1.60 Acres

      Macon Industrial Development Land

      1.6-acre industrial site, prime location.
      5025 Columbus Rd, Macon, GA 31206
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      7,303 SF

      Retail Space Near Farmers Market

      Retail storefronts with high visibility and ample parking available for lease.
      2121 Eisenhower Pkwy, Macon, GA 31206
      View Details
    • $8 SF/Yr
      21,615 SF

      Macon Showroom/Warehouse Space

      High-traffic Macon location, 21,615 SF.
      3656 Eisenhower Pkwy, Macon, GA 31206
      View Details
    • $1,250 /Mo
      2,300 SF

      Retail Spaces Available For Lease

      Retail spaces for lease with ample parking and signage.
      1502 Rocky Creek Rd, Macon, GA 31206
      View Details
    • Contact for pricing
      14,490 SF

      Prime Retail Location in Macon

      Retail space in high-traffic area near Mercer University.
      4305 Mercer University Dr, Macon, GA 31206
      View Details
    • $9 SF/Yr
      10,350 SF

      Retail Space Near Macon Mall

      Retail spaces available from 1,600 to 28,300 square feet.
      3755 Bloomfield Rd, Macon, GA 31206
      View Details
    • Contact for pricing
      721,655 SF

      Eisenhower Crossing Retail Space

      Prime Retail Space, Bibb County
      4551 Billy Williamson Dr, Macon, GA 31206
      View Details
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    2973 Houston Ave
    Macon, GA 31206-2247
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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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