Fully Occupied
New
For Sale
$599,000
790 Pat Mell Road SE, Smyrna, GA 30080
Residential Income, Smyrna, GA
Property Size2,484 SF
Lot Size0.17 Acres
Price / SF$241.14
Days on Market5
Property Features for 790 Pat Mell Road SE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking
7
Parking features
Driveway
Lot features
Level
Elementary school
Green Acres
Middle school
Pearson
High school
Campbell
Directions
790 PAT MELL RD, SMYRNA GEORGIA 30080. MINUTES FROM MAJOR INTERSECTION NEAR WINDY HILL ROAD SE AND ATLANTA ROAD SE
Standard status
Active
APN
17042001060
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4264
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Number of units
3
Flooring type
Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
HomeSmart · HomeSmart International
(404) 876-4901
Listed By:
James Ali
(434) 426-0124
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 5 at 4:06AM
MLS# 7831126
Copyright © 2026 First Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This purpose-built triplex contains 2,484 total square feet across three residences, including 1,656 square feet above grade and a finished 828-square-foot lower level. The layout includes a top-floor unit, a street-level main residence, and a lower-level unit, with three total bathrooms. All three units are leased and occupied. Construction dates to 2004, with vinyl siding, vinyl flooring, central heating, electric cooling, central air, a shingle roof, and driveway parking. The property sits on a 0.17-acre lot and is served by public water and public sewer.
Located at 790 Pat Mell Road SE in Smyrna, the property is described as being minutes from Truist Park, The Battery Atlanta, and Marietta Square, with access to I-285 and I-75. The Chattahoochee River National Recreation Area is also identified in the surrounding area.
Located at 790 Pat Mell Road SE in Smyrna, the property is described as being minutes from Truist Park, The Battery Atlanta, and Marietta Square, with access to I-285 and I-75. The Chattahoochee River National Recreation Area is also identified in the surrounding area.
Key Highlights
- Three leased and occupied units
- 2,484 total square feet: 1,656 above grade plus 828 finished lower level
- Built in 2004 on a 0.17‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,092
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$721,840
$721.8K
Cap Rate 7%
$515,600
$515.6K
Cap Rate 9%
$401,022
$401.0K
Market Conditions
NOI Build-Up for 2,484 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.1K $22.20/SF
− Vacancy
−$3.6K −$1.44/SF
EGI
$51.6K $20.76/SF
− OpEx
−$15.5K −$6.23/SF
NOI
$36.1K $14.53/SF
Area
Cobb County, GA
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$721,840
Cap Rate 7%
$515,600
Cap Rate 9%
$401,022
Alternative Uses
Best Use
Multifamily LT 5
$515.6K
$451.2K – $601.5K
NOI $36,092 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$476.7K
$417.1K – $556.2K
NOI $33,370 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$697.5K
$610.3K – $813.8K
NOI $48,826 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
Explore this area
Business Placement
Demographics for 30080, GA
52,125
Population
27,081
Households
1.9
Avg Household Size
35
Median Age
58%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
4,137
Density / Sq Mi
$87,949
Median Household Income
$59,267
Median Earnings
$1,660
Median Rent
$409,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Purpose-built 2004 property with three leased residences, public water and sewer, and driveway parking in Smyrna.
Where is this triplex located?
The property is located at 790 Pat Mell Road SE Smyrna, GA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three leased and occupied units; 2,484 total square feet: 1,656 above grade plus 828 finished lower level; Built in 2004 on a 0.17‑acre lot
