Downtown Atlanta Office
For Sale
$5,000,000
107 Luckie Street Northwest, Atlanta, GA 30303
Office building in downtown entertainment district, ideal for redevelopment.
Property Size18,800 SF
Price / SF$265.96
Days on Market152
Property Features for 107 Luckie Street Northwest
General Information
Standard status
Active
Size
18,800 SF
Property subtype
Office
Listing Agency:
CBRE - Atlanta
(404) 812-5162
Listed By:
Michael MacDonald · License #401318
(404) 812-5162
Source:
Cbre
Added: Mar 25
Changed: Aug 12
Last Checked: Aug 23 at 5:36AM
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 CBRE - Atlanta
Investment Insights
Based on property information with market context.
Located on Luckie Street in Atlanta's downtown entertainment district, this property offers approximately 18,800 square feet of office space. The three-story building features a combination of open and private offices with high-level finishes. It is conveniently located near multiple amenities, including Mercedes-Benz Stadium, State Farm Arena, World of Coca-Cola, Georgia Aquarium, and the College Football Hall of Fame. Currently serving as headquarters for Matlock Advertising and Public Relations, the property presents an opportunity for both owner-users and long-term redevelopment.
Key Highlights
- Amenity rich location near Mercedes‑Benz Stadium, State Farm Arena, World of Coca‑Cola, Georgia Aquarium, and the College Football Hall of Fame.
- Owner‑user opportunity for immediate occupancy.
- Redevelopment opportunity for long‑term investment.
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
$251,752
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
5.04%
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%
$5,035,040
$5.0M
Cap Rate 7%
$3,596,457
$3.6M
Cap Rate 9%
$2,797,244
$2.8M
Market Conditions
NOI Build-Up for 18,800 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
$448.8K $23.87/SF
− Vacancy
−$113.1K −$6.02/SF
EGI
$335.7K $17.85/SF
− OpEx
−$83.9K −$4.46/SF
NOI
$251.8K $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%
$5,035,040
Cap Rate 7%
$3,596,457
Cap Rate 9%
$2,797,244
Alternative Uses
Best Use
Office B
$3.60M
$3.15M – $4.20M
NOI $251,752 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.26M
$4.60M – $6.13M
NOI $367,872 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12,320
Businesses Nearby
Explore this area
Business Placement
Demographics for 30303, GA
9,352
Population
1,625
Households
5.8
Avg Household Size
25
Median Age
25%
College-Educated
88%
High-School Grad
1.0 sq mi
ZIP Area
9,352
Density / Sq Mi
$9,322
Median Earnings
$1,705
Median Rent
$250,200
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?
Office building - Office building in downtown entertainment district, ideal for redevelopment.
Where is this office building located?
The property is located at 107 Luckie Street Northwest Atlanta, 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: Amenity rich location near Mercedes‑Benz Stadium, State Farm Arena, World of Coca‑Cola, Georgia Aquarium, and the College Football Hall of Fame.; Owner‑user opportunity for immediate occupancy.; Redevelopment opportunity for long‑term investment.
