442 2Nd StMacon, GA 31201

Property Details for 442 2Nd St

Year built

1927

Lot size

0.06 AC

Property size (Sq ft)

4,948 SF

Zone code

CBD-1

Property type

Turn key restaurants

APN

R073-0364

APU

R0730364

Description

This exceptional mixed-use commercial building, located at 442 2nd Street in Macon, Georgia, presents a unique investment opportunity. Boasting 4,948 square feet on a 0.06-acre lot, this two-story property offers a versatile layout ideal for a variety of uses. The main floor provides a wide-open space, perfect for retail or office space. The second floor features a loft apartment in the front half, complete with a closet and restroom, and a large open room with a restroom in the rear. Access to the roof is available from the third floor. Built in 1927 and renovated in 1970, this property benefits from its prime location in Macon's Central Business District, situated between Cherry Street and Poplar Street. Its high visibility and proximity to Atrium Health Medical Center (with approximately 4,600 employees) and Mercer University (with approximately 9,000 students) make it an attractive investment. The property is zoned CBD-1 and offers 27 feet of frontage on Second Street. Within walking distance are residential lofts, the Bibb & Federal Courthouse, government offices, financial institutions, shopping, entertainment, and places of worship. Public transportation also serves the area. The asking price is $375,000, translating to $75.79 per square foot. This property is priced to sell and represents a strong return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $925,153

  6.5%

  $853,988

  7%

  $792,988

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,432,195

  Geo Method

  $2,432,195

• Alternative Use

  Use

  Valuation

  Residential

  $720,370

  Hospitality

  $659,855

  Educational

  $548,992

  Medical

  $567,873

  Retail

  $853,988

Location Insight

City

Macon

County

Bibb

State

Georgia

Latitude

32.8359

Longitude

-83.6292

CBSA code

31420

CBSA name

MACON, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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