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

    685 Millerfield Rd Macon, GA 31217-4545

    • Warehouses
    • 13,440 SF
    • 0.92 lot acres
    OFF-MARKET
    Last Sale
    Aug 22, 2024
    $700,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2186740
    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

    • Warehouses

    Property Details for 685 Millerfield Rd

    Year built
    1966
    Construction
    STEEL FRAME
    Lot size
    0.92 lot acres
    Property size
    13,440 SF
    Zone code
    M-1
    Property type
    Warehouses
    APN
    T071-0047
    APU
    T0710047

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.5886
    Latitude
    32.8502
    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
    2024
    $2,225
    $48,000
    $39,593
    $87,593
    -
    $120,000
    $98,983
    $218,983

    Comparable in this City

    • Value Estimation
      $275,000
      2,296 SF

      530 Commerce Dr

      WAREHOUSE, STORAGE • 2,296 SF
      530 Commerce Dr, Macon, GA 31217-4722
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    • Value Estimation
      $235,000
      1,800 SF

      5395 Ocmulgee E Blvd

      WAREHOUSE, STORAGE • 1,800 SF
      5395 Ocmulgee E Blvd, Macon, GA 31217
      View Details
    • Value Estimation
      $260,000
      288 SF

      781 Smith St

      WAREHOUSE, STORAGE • 288 SF
      781 Smith St, Macon, GA 31217-4078
      View Details
    • Value Estimation
      $14,780,000
      576 SF

      2600 Weaver Rd

      WAREHOUSE, STORAGE • 576 SF
      2600 Weaver Rd, Macon, GA 31217-5902
      View Details
    • Value Estimation
      $410,000
      3,750 SF

      223 Woolfolk St

      WAREHOUSE, STORAGE • 3,750 SF
      223 Woolfolk St, Macon, GA 31217
      View Details
    • Value Estimation
      $295,000
      14,600 SF

      3460 Fleming Dr

      WAREHOUSE, STORAGE • 14,600 SF
      3460 Fleming Dr, Macon, GA 31217
      View Details

    Similar Nearby for Sale

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      Macon Commercial Lot with Warehouse

      Commercial lot with warehouse and renovated office space in Macon.
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    • $120,000
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      9.5 Acres Ideal Homesteading Location

      Wooded lot with pond, utilities, barn, and established gardens.
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    • Contact for pricing
      0.15 Acres

      Corner Lot in Macon, GA

      Vacant corner lot with new construction nearby.
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      0.19 Acres

      Buildable Lot Near Downtown Macon

      Residential lot near downtown, Mercer University, and major highways.
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      0.46 Acres

      Residential Land Lot in Macon

      Land lot available in Macon, Georgia.
      2766 Stanley Dr, Macon, GA 31217
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    Similar Nearby for Lease

    • $4 SF/Yr
      100,000 SF

      Macon Industrial Warehouse Space

      100,000 SF Warehouse, 33,000 SF Available
      580 Joe Tamplin Industrial Blvd, Macon, GA 31217
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    • $8 SF/Yr
      29,550 SF

      Macon Warehouse with Dock Doors

      29,550 SF warehouse on 4.67 acres with dock doors.
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    • Contact for pricing
      50,000 SF

      Macon Warehouse with Office Space

      50,000 SF warehouse with 2,500 SF office for lease.
      4114 Riggins Mill Rd, Macon, GA 31217
      View Details
    • $6 SF/Yr
      5,000 SF

      Macon Industrial Flex Space For Lease

      5,000 SF Flex Space, 2.38 Acres
      3401 Ocmulgee Blvd, Macon, GA 31217
      View Details
    • $4 SF/Yr
      100,000 SF

      Macon Warehouse: 100,000 SF Available

      Large industrial warehouse, Macon, GA.
      538 Joe Tamplin Industrial Blvd, Macon, GA 31217
      View Details
    • $19 SF/Yr
      755 SF

      Retail Space in Macon, GA

      755 SF retail space with open floorplan for rent.
      2916 Jeffersonville Rd, Macon, GA 31217
      View Details
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    685 Millerfield Rd
    Macon, GA 31217-4545
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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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