Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    450 3rd St Macon, GA 31201-4300

    • Retail residential properties
    • 30,900 SF
    • 0.27 lot acres
    OFF-MARKET
    Last Sale
    Dec 31, 2024
    $3,750,000
    Value Estimations
    $3,750,000
    Show details
    Cap Rate Potential
    7.8%
    Retail residential properties
    Location Intelligence
    Property ID
    US22-2454271
    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 residential properties

    Property Details for 450 3rd St

    Year built
    1900
    Lot size
    0.27 lot acres
    Property size
    30,900 SF
    Zone code
    CBD-1
    Property type
    Retail residential properties
    APN
    R073-0334
    APU
    R0730334

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,750,000
      ML approach
      $3,750,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,865,000
      6.5%
      $4,490,000
      7%
      $4,170,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,616,000
      Market price range: $1.23M - $3.75M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,340,000
      Current use
      RESTAURANT
      $4,955,000
      Change: +112% Conversion: Difficult
      MEDICAL BUILDING
      $3,965,000
      Change: +69% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $2,585,000
      Change: +10% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $2,345,000
      Change: +0% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.6276
    Latitude
    32.8347
    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
    $3,474
    $115,500
    $861,258
    $976,758
    -
    $288,750
    $2,153,144
    $2,441,894

    Comparable in this City

    • Value Estimation by Request
      1,900 SF

      586 Poplar St

      STORE/OFFICE (MIXED USE) • 1,900 SF
      586 Poplar St, Macon, GA 31201-2752
      View Details
    • Value Estimation
      $17,770,000
      127,536 SF

      1345 Hardeman Ave

      STORE/OFFICE (MIXED USE) • 127,536 SF
      1345 Hardeman Ave, Macon, GA 31201-1439
      View Details
    • Value Estimation by Request
      4,152 SF

      835 Forsyth St

      STORES & APARTMENTS • 4,152 SF
      835 Forsyth St, Macon, GA 31201-2186
      View Details
    • Value Estimation by Request
      839 SF

      553 Cherry St, Unit A2

      STORE/OFFICE (MIXED USE) • 839 SF
      553 Cherry St, Macon, GA 31201
      View Details
    • Value Estimation
      $825,000
      5,250 SF

      524 Poplar St

      STORES & APARTMENTS • 5,250 SF
      524 Poplar St, Macon, GA 31201-2717
      View Details
    • Value Estimation by Request
      3,260 SF

      167 Franklin St

      STORE/OFFICE (MIXED USE) • 3,260 SF
      167 Franklin St, Macon, GA 31201-0726
      View Details

    Similar Nearby for Sale

    • $1,970,000
      26,216 SF

      Macon Mixed-Use Investment Opportunity

      Prime Macon location, 26,216 sq ft, high ROI.
      1680 Broadway, Macon, GA 31201
      View Details
    • $375,000
      4,948 SF

      Macon Mixed-Use Commercial Building

      Downtown Macon investment opportunity. High-visibility location.
      442 2Nd St, Macon, GA 31201
      View Details
    • $1,850,000
      13 SF

      Mixed-Use Building with Retail

      Two-story mixed-use building featuring retail and loft units.
      362-378 2Nd St, Macon, GA 31201
      View Details
    • $495,000
      4,100 SF

      4,100 ± SF Professional / Medical Office Building For Sale

      4,100 ± SF Professional / Medical Office Building For Sale
      1867 Forsyth Street, Macon, GA 31201
      View Details
    • $539,000
      6 SF

      Storefront Retail/Office Building For Sale

      6,732± SF, three-story storefront retail/office building in Macon, GA.
      391 2Nd St, Macon, GA 31201
      View Details
    • $425,000
      0.56 Acres

      Macon Commercial Land: Prime Location

      0.56-acre lot, CBD-2 zoning, high visibility.
      440 Hemlock St, Macon, GA 31201
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      750 SF

      Loft Retail Space Available

      750± SF loft with one bedroom and bath for rent.
      361 2Nd St, Macon, GA 31201
      View Details
    • $16 SF/Yr
      2,600 SF

      Restaurant Space with Mezzanine

      2,600± SF restaurant space with updated features for lease.
      428 2Nd St, Macon, GA 31201
      View Details
    • $1,750 /Mo
      1,300 SF

      Storefront Retail / Office Space

      1,300± SF retail/office space with open layout in Macon, GA.
      811 Forsyth St, Macon, GA 31201
      View Details
    • $10 SF/Yr
      1,150 SF

      Macon Medical Office Space Available

      Medical office suite for lease near Walnut and Spring intersection.
      885 Walnut St, Macon, GA 31201
      View Details
    • Contact for pricing
      67,580 SF

      Cherry Street Executive Suites

      Bibb County Office Space Available
      606 Cherry St, Macon, GA 31201
      View Details
    • $2,000 /Mo
      10,000 SF

      Robert E Lee Building - Suite 201 - $2,000 Per Month

      Robert E Lee Building - Suite 201 - $2,000 Per Month
      830 Mulberry Street, Macon, GA 31201
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    450 3rd St
    Macon, GA 31201-4300
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.