Historic East Atlanta Live-Work
For Sale
Contact for pricing
1112 Delaware Ave Se, Atlanta, GA
Unique 1930s property in East Atlanta/Ormewood Park for sale.
Property Size2,560 SF
Lot Size0.17 Acres
Price / SF$312.11
Days on Market557
Property Features for 1112 Delaware Ave Se
General Information
Standard status
Active
Size
2,560 SF
Lot size
0.17 Acres
Property subtype
OFFICE
Listing Agency:
Harry Norman Realtors
(770) 977-9500
Listed By:
Allison McLaurin
Source:
Moodyscre
Added: Mar 10, 2025
Changed: Sep 7
Last Checked: Sep 16 at 6:58PM
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 Harry Norman Realtors
Investment Insights
Based on property information with market context.
This historic property, dating back to 1930, is located in East Atlanta/Ormewood Park and is suitable for a live/work lifestyle. Zoned as R4 with Mixed Use/Commercial Use Conformities, the 2560 square foot interior features exposed brick walls throughout. There are two separate rooms that could serve as bedrooms or offices. The main area has an open concept layout, a kitchen, and a renovated bathroom with a tiled walk-in shower. The property is fully fenced, with a security gate and a long driveway for off-street parking. It is conveniently located close to local Ormewood Park shops and restaurants.
Key Highlights
- Unique historic property (circa 1930) in East Atlanta/Ormewood Park.
- Zoned R4 with Mixed Use/Commercial Use Conformities, ideal for live/work.
- Open concept interior with exposed brick.**
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
$31,104
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
3.89%
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%
$622,080
$622.1K
Cap Rate 7%
$444,343
$444.3K
Cap Rate 9%
$345,600
$345.6K
Market Conditions
NOI Build-Up for 2,560 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
$55.3K $21.60/SF
− Vacancy
−$5.5K −$2.16/SF
EGI
$49.8K $19.44/SF
− OpEx
−$18.7K −$7.29/SF
NOI
$31.1K $12.15/SF
Area
Atlanta, GA
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$622,080
Cap Rate 7%
$444,343
Cap Rate 9%
$345,600
Alternative Uses
Best Use
Mixed Use
$444.3K
$388.8K – $518.4K
NOI $31,104 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$715.6K
$626.2K – $834.9K
NOI $50,093 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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821
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Frequently Asked Questions
What type of property is this?
Live-work space - Unique 1930s property in East Atlanta/Ormewood Park for sale.
Where is this live-work space located?
The property is located at 1112 Delaware Ave Se Atlanta, GA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Unique historic property (circa 1930) in East Atlanta/Ormewood Park.; Zoned R4 with Mixed Use/Commercial Use Conformities, ideal for live/work.; Open concept interior with exposed brick.**
