350 2Nd StMacon, GA 31201

Property Details for 350 2Nd St

Year built

1890

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.07 AC

Property size (Sq ft)

4,896 SF

Zone code

CBD-1

Property type

Office properties

Property subtype

Other office properties

APN

R073-0251

APU

R0730251

Description

This exceptional opportunity presents the acquisition of The Woodward Hotel, a charming, locally-owned boutique hotel situated in the heart of historic downtown Macon, Georgia. This 4,864 square foot property, built in 1890 and extensively renovated in 2021, boasts nine uniquely designed guest rooms – five king rooms, two junior queen rooms, one ADA-compliant king room, and one double queen room. Each room features luxurious linens, plush mattresses, designer-tiled ensuite bathrooms, custom upholstery, and cozy reading chairs. A key feature is the acclaimed Quill Cocktail Bar, a literature-inspired establishment open to the public and recognized as one of "Seven Hotel Bars Worth a Stay" by Garden & Gun magazine. The hotel also includes an indoor lounge and a rooftop patio, providing ample space for guests to relax and enjoy. The property sits on a 0.07-acre lot (APN: R073-0251) and is zoned CBD-1. Further enhancing the investment potential, this sale includes three leased retail suites and seven loft units (six one-bedroom and two two-bedroom) totaling 13,721 square feet in a separate building at 362-378 Second Street, built in 1900 and renovated in 2023. These additional units offer significant expansion possibilities, with the loft units easily convertible into additional hotel rooms and the vacant retail spaces suitable for restaurant conversion. The asking price for this combined property is $2,250,000.

• CAP approach

  CAP return

  Valuation

  6%

  $622,742

  6.5%

  $574,839

  7%

  $533,779

• Comparable approach

  Method

  Valuation

  Relative Method

  $955,014

  Geo Method

  $955,014

• Alternative Use

  Use

  Valuation

  Residential

  $712,800

  Hospitality

  $652,921

  Educational

  $543,222

  Medical

  $561,905

  Retail

  $845,013

Location Insight

City

Macon

County

Bibb

State

Georgia

Latitude

32.837

Longitude

-83.6283

CBSA code

31420

CBSA name

MACON, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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