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

    523 Cherry St Macon, GA 31201

    • Retail space
    • 14,564 SF
    For Lease
    View listing
    $12 SF/Yr
    Value Estimations
    $245,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-0670398
    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

    • Dempsey Apartments / Retirement Home / Apartment Building

    Property Details for 523 Cherry St

    Year built
    1913
    Property size
    14,564 SF
    Property type
    Retail space
    APN
    R073-0452
    APU
    R0730452

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.6276
    Latitude
    32.8363
    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
    $5,480
    $0.00
    $158,288
    $158,288
    -
    $0.00
    $395,721
    $395,721

    Comparable in this City

    • Value Estimation by Request
      3,918 SF

      517 Cherry St

      Individual retail properties • 3,918 SF
      517 Cherry St, Macon, GA 31201
      View Details
    • Value Estimation
      $225,000
      540 SF

      305 Frst Ave

      RETAIL STORES (PERSONAL SERVICES) • 540 SF
      305 Frst Ave, Macon, GA 31201-1007
      View Details
    • Value Estimation
      $235,000
      2,240 SF

      456 1st St

      RETAIL STORES (PERSONAL SERVICES) • 2,240 SF
      456 1st St, Macon, GA 31201-2764
      View Details
    • Value Estimation
      $285,000
      1,500 SF

      1408 Forsyth St

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      1408 Forsyth St, Macon, GA 31201-1404
      View Details
    • Value Estimation
      $310,000
      7,492 SF

      532 Cherry St

      RETAIL STORES (PERSONAL SERVICES) • 7,492 SF
      532 Cherry St, Macon, GA 31201-2711
      View Details
    • Value Estimation
      $235,000
      12,182 SF

      818 Riverside Dr

      RETAIL STORES (PERSONAL SERVICES) • 12,182 SF
      818 Riverside Dr, Macon, GA 31201-2612
      View Details

    Similar Nearby for Sale

    • $450,000
      3,131 SF

      Downtown Macon Retail Opportunity

      High-traffic location, 3131 sq ft, $450,000
      722 Martin Luther King Jr Blvd, Macon, GA 31201
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    • $375,000
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      Multi-Use Commercial Building For Sale

      4,948 SF multi-use commercial building with loft apartment.
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    • $425,000
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      Retail/Warehouse/Showroom on MLK Jr. Blvd.

      6,460 SF retail/warehouse/showroom with frontage on MLK Jr. Blvd.
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    • $1,850,000
      13,721 SF

      Macon Central Business District Retail

      Retail space in Macon's Central Business District for sale.
      362 2Nd St, Macon, GA 31201
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    • $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
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    • $375,000
      4,831 SF

      Former Store with Development Potential

      Former store with office and development opportunity in Macon, GA.
      722 Martin Luther King Jr Blvd, Macon, GA 31201
      View Details

    Similar Nearby for Lease

    • $1,250 /Mo
      931 SF

      Storefront Retail / Office Space

      931± SF retail/office space with reserved parking.
      839 Forsyth St, Macon, GA 31201
      View Details
    • $14 SF/Yr
      1,300 SF

      Storefront Retail / Office Space

      1,300 SF storefront retail/office space available for rent.
      452 1St 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
    • $14 SF/Yr
      1,225 SF

      Salon Space Available For Rent

      1,225 SF salon space with private entrance.
      426 2Nd St, Macon, GA 31201
      View Details
    • $12 SF/Yr
      3,918 SF

      Storefront Retail Space Available

      3,918 SF retail space with excellent window frontage.
      523 Cherry St, Macon, GA 31201
      View Details
    • $10 SF/Yr
      1,150 SF

      Retail Suites Available for Lease

      Retail suites for lease with flexible layouts and parking.
      183 Spring St, Macon, GA 31201
      View Details
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    523 Cherry St
    Macon, GA 31201
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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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