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    Warehouse with Movie Studio Potential Title is generated by Realmo AI

    274 Highway 138 SW, Riverdale, GA 30274

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    For Sale
    $5,000,000

    COMMERCIAL - Riverdale, GA

    Type:Office
    Property size:
    41,800 SF
    Lot size:
    7.60 Acres
    Price / SF:
    $119/SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 274 Highway 138 SW

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Parking
    528
    Parking features
    Parking Lot
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    13213A A006
    Size
    41,800 SF
    Lot size
    7.60 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    68613

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1986
    Flooring type
    Carpet
    Building materials
    Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Anhad Chawla

    Listing agent Anhad Chawla License #443303

    Listing office Homesmart Realty Partners 10400 Old Alabama Rd Connector, Suite 400, Roswell, GA

    Listing date Jun 2, 2026

    MLS# 10776595

    Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 41,800 SF warehouse building on 7.6 acres
    • Originally built as a movie theater with 16 screens/auditoriums, suited for studio or warehouse/office use
    • Metal roof; frame construction
    • Central heating (including electric heating) and central air conditioning
    • Parking lot; accessible approach with ramp
    • Public water and public sewer; cable available

    Overview

    This warehouse property totals 41,800 square feet on 7.6 acres and features a layout originally constructed as a movie theater with 16 screens/auditoriums. That built-in configuration can support alternative uses such as movie studios, as well as warehouse space and office space, depending on how the next operator or investor plans to configure the interior. Site plans and tax plat are available in other provided documents, supporting review for feasibility and planning.

    The property is located in Riverdale, Georgia in Clayton County, approximately 9 miles from Atlanta Hartsfield-Jackson International Airport. The offering is listed for sale as a standalone commercial asset at 274 Highway 138 SW, Riverdale, GA 30274.

    Please note there is no access or viewings permitted for this property. Accordingly, buyers should plan diligence around the provided documentation and any allowed information in lieu of an on-site tour. For parties comfortable evaluating a warehouse with a specialized theater-derived buildout, the asset may fit users looking for warehouse capacity alongside possible office and studio-like space in one site.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • SecurCare Self Storage — 53 GA-138, Riverdale, GA 30274
    • Freeway Self Storage — 722 ga-138, riverdale, ga 30274
    • Life Storage — 303 GA-138, Riverdale, GA 30274

    Location Insight

    • Map
    • Local Demand
    City
    Riverdale
    County
    Clayton
    State
    Georgia
    Longitude
    -84.399635
    Latitude
    33.540351

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    FAQs

    What type of property is this?
    Warehouse - Large warehouse building with former theater layout, offering flexible studio or warehouse/office options for investors.
    Where is this warehouse located?
    The property is located at 274 Highway 138 SW Riverdale, GA.
    What is the asking price?
    The asking price for this property is $5,000,000.
    What are key features of this property?
    This property features: 41,800 SF warehouse building on 7.6 acres; Originally built as a movie theater with 16 screens/auditoriums, suited for studio or warehouse/office use; Metal roof; frame construction
    (678) 999-6311
    We can help!
    Listing Contact
    Anhad Chawla
    Real Estate License ID: 443303
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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.

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