Creative Office
New
For Sale
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1037 Monroe Drive Northeast, Atlanta, GA 30306
Gallery-inspired office condominium with skylights, double-height ceilings, private offices, conference space, and neighborhood commercial zoning.
Property Size2,004 SF
Price / SF$461.58
Days on Market7
Property Features for 1037 Monroe Drive Northeast
General Information
Standard status
Active
Size
2,004 SF
Class
B
Total Parking Spaces
15
Property subtype
Office
Zoning
C1
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
6
Building Details
Year Built
1925
Year Renovated
1982
Buildings
1
Stories
1
Tenancy
Multi
Owner Occupied
No
Listing Agency:
Graham & Arthur, LLC
Listed By:
David Mauer · License #GA 395860
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 8:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Graham & Arthur, LLC
Investment Insights
Based on property information with market context.
This 2,004-square-foot creative office condominium occupies a 1925 building and combines a gallery-influenced layout with practical office improvements. The interior includes a reception area with glass display windows, a private executive office, an open studio beneath a two-story finished ceiling and skylight, a conference room, a second window-lined office area, a kitchen and break area, and a full bathroom with shower. The main studio’s existing glass partitions are scheduled for removal at turnover, and the unit is set for vacant delivery on October 1, 2026.
The property is located at 1037 Monroe Drive Northeast in Atlanta, one block from Piedmont Park and the Atlanta Beltline Eastside Trail. Midtown, Ansley Park, and Virginia-Highland are minutes away, with access to I-85 and Ponce de Leon Avenue. Fifteen unassigned off-street parking spaces are shared among the building’s six condominium units, with additional street parking on Monroe Drive, Cooledge Avenue, Kanuga Street, and Cresthill Avenue.
Zoned C-1, Community Business District, the unit supports office and neighborhood commercial uses subject to Creative Condominium Association approval. Association restrictions favor creative or professional office ownership and prohibit restaurants and alcohol sales.
The property is located at 1037 Monroe Drive Northeast in Atlanta, one block from Piedmont Park and the Atlanta Beltline Eastside Trail. Midtown, Ansley Park, and Virginia-Highland are minutes away, with access to I-85 and Ponce de Leon Avenue. Fifteen unassigned off-street parking spaces are shared among the building’s six condominium units, with additional street parking on Monroe Drive, Cooledge Avenue, Kanuga Street, and Cresthill Avenue.
Zoned C-1, Community Business District, the unit supports office and neighborhood commercial uses subject to Creative Condominium Association approval. Association restrictions favor creative or professional office ownership and prohibit restaurants and alcohol sales.
Key Highlights
- 2,004‑square‑foot office condominium in a 1925 building
- One block from Piedmont Park and the Atlanta Beltline Eastside Trail
- Two‑story finished ceiling, skylights, and glass‑front reception area
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
$26,836
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
2.90%
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%
$536,720
$536.7K
Cap Rate 7%
$383,371
$383.4K
Cap Rate 9%
$298,178
$298.2K
Market Conditions
NOI Build-Up for 2,004 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
$47.8K $23.87/SF
− Vacancy
−$12.1K −$6.02/SF
EGI
$35.8K $17.85/SF
− OpEx
−$8.9K −$4.46/SF
NOI
$26.8K $13.39/SF
Area
Atlanta, GA
Vacancy
25.20%
Lease Rate
$23.87 /SF/Yr
Expense Ratio
25.00%
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%
$536,720
Cap Rate 7%
$383,371
Cap Rate 9%
$298,178
Alternative Uses
Best Use
Office B
$383.4K
$335.5K – $447.3K
NOI $26,836 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$560.2K
$490.2K – $653.6K
NOI $39,214 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 30306, GA
25,053
Population
12,182
Households
2.1
Avg Household Size
36
Median Age
83%
College-Educated
97%
High-School Grad
4.6 sq mi
ZIP Area
5,446
Density / Sq Mi
$133,085
Median Household Income
$82,692
Median Earnings
$1,796
Median Rent
$797,400
Median Home Value
Market
Vacancy Rate% for Office in Atlanta, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Gallery-inspired office condominium with skylights, double-height ceilings, private offices, conference space, and neighborhood commercial zoning.
Where is this creative space located?
The property is located at 1037 Monroe Drive Northeast Atlanta, GA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 2,004‑square‑foot office condominium in a 1925 building; One block from Piedmont Park and the Atlanta Beltline Eastside Trail; Two‑story finished ceiling, skylights, and glass‑front reception area
