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    3217 Mercer University Dr Macon, GA 31204-5029

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    3217 Mercer University Dr Macon, GA 31204-5029

    View on Map
    • Retail space
    • 11,200 SF
    • 1.34 lot acres
    Off-Market
    Property ID
    US22-2501229
    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
    $1,425,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cricket Wireless Authorized Retailer / Mobile Phone Store / Electronics & Wireless Store
    • Beauty Queen 98 Cents Store / Linens Store / Oriental Rug Store

    Property Details for 3217 Mercer University Dr

    Year built
    1999
    Lot size
    1.34 lot acres
    Property size
    11,200 SF
    Zone code
    C-1/C-2
    Property type
    Retail space
    APN
    N084-0023
    APU
    N0840023

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,775,000
      6.5%
      $1,640,000
      7%
      $1,520,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,250,000
      Market price range: $365k - $1.25M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,795,000
      MEDICAL BUILDING
      $1,435,000
      NEIGHBORHOOD: SHOPPING CENTER
      $935,000
      COMMERCIAL (GENERAL)
      $875,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.6824
    Latitude
    32.8239
    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
    $13,850
    $94,193
    $373,369
    $467,562
    -
    $235,482
    $933,422
    $1,168,904

    Comparable in this City

    • Value Estimation by Request
      960 SF

      930 Pio Nono Ave

      RETAIL STORES (PERSONAL SERVICES) • 960 SF
      930 Pio Nono Ave, Macon, GA 31204-4059
      View Details
    • Value Estimation by Request
      794 SF

      3706 Mercer University Dr

      RETAIL STORES (PERSONAL SERVICES) • 794 SF
      3706 Mercer University Dr, Macon, GA 31204-4860
      View Details
    • Value Estimation by Request
      1,597 SF

      3706 Mercer University Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,597 SF
      3706 Mercer University Dr, Macon, GA 31204-4860
      View Details
    • Value Estimation by Request
      864 SF

      3706 Mercer University Dr

      RETAIL STORES (PERSONAL SERVICES) • 864 SF
      3706 Mercer University Dr, Macon, GA 31204-4860
      View Details
    • Value Estimation by Request
      812 SF

      3706 Mercer University Dr

      RETAIL STORES (PERSONAL SERVICES) • 812 SF
      3706 Mercer University Dr, Macon, GA 31204-4860
      View Details
    • Value Estimation by Request
      520 SF

      936 Hillcrest Blvd

      RETAIL STORES (PERSONAL SERVICES) • 520 SF
      936 Hillcrest Blvd, Macon, GA 31204-3829
      View Details

    Similar Nearby for Sale

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      Versatile Commercial Building Near Mercer

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      8,692 SF retail building on 0.78 acre lot.
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      25,300 SF

      Mercer University Drive Retail/Warehouse

      Retail and warehouse space with high visibility and expansion potential.
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    • $675,000
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      Versatile Commercial Opportunity in Macon

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    Similar Nearby for Lease

    • $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
    • $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
    • $16 SF/Yr

      Retail Space in Ingleside Village

      Retail space in a high-traffic, community-focused area.
      2308 Ingleside Ave, Macon, GA 31204
      View Details
    • Contact for pricing

      Retail Center with High Visibility

      Retail center with high traffic and great visibility.
      3249-3253 Mercer University Dr, Macon, GA 31204
      View Details
    • Contact for pricing

      Mercer University Drive Retail/Warehouse

      Retail and warehouse space with high visibility and ample parking.
      3260 Mercer University Dr, Macon, GA 31204
      View Details
    • $17 SF/Yr

      Freestanding Office/Retail Building in Macon

      Freestanding ±1,200 SF building suitable for medical, professional, or retail.
      4693 Log Cabin Dr, Macon, GA 31204
      View Details
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    Macon, GA 31204-5029
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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.

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    3217 Mercer University Dr, Macon, GA, 31204

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