3801 Northside DrMacon, GA 31210

Property Details for 3801 Northside Dr

Year built

1977

Lot size

0.51 AC

Property size (Sq ft)

6,947 SF

Zone code

C-2

Property type

Healthcare properties

Property subtype

Medical offices

APN

N043-0084

APU

N0430084

Description

This exceptional investment opportunity presents a 6,873 square foot medical office building in Macon, Georgia, currently 100% occupied by MyEyeDr, a leading optometry provider with over 800 locations nationwide. The property boasts a stabilized investment profile with a strong 8.75% cap rate and a substantial net operating income (NOI) of $139,458. The lease, featuring a corporate guarantee, has a remaining term of three years with a 10% rent bump at renewal and options for two or five-year extensions. Built in 1977, this single-tenant property is situated at 3801 Northside Dr, Macon, GA 31210, an area with high traffic volume (over 20,000 cars daily) and proximity to major retailers like Kroger, Starbucks, Chick-fil-A, and UPS at the adjacent Northpark Center Mall. The property benefits from strong demographics, serving a 5-mile population exceeding 64,500 residents with an average household income of $81,685. Macon's robust economy, driven by manufacturing, aeronautics, tourism, and the significant economic impact of Robbins Air Force Base, further enhances the investment's appeal. The asking price is $1,593,805, translating to a price per square foot of $231.89. This represents a compelling opportunity to acquire a high-performing medical office asset in a thriving Georgia market. The property is an outparcel to Atrium Health Wellness.

• CAP approach

  CAP return

  Valuation

  6%

  $883,617

  6.5%

  $815,646

  7%

  $757,386

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,355,082

  Geo Method

  $1,355,082

• Alternative Use

  Use

  Valuation

  Residential

  $1,011,401

  Hospitality

  $926,438

  Educational

  $770,786

  Medical

  $797,294

  Retail

  $1,199,000

Location Insight

City

Macon

County

Bibb

State

Georgia

Latitude

32.8979

Longitude

-83.6928

CBSA code

31420

CBSA name

MACON, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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