Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    371 Lanier St NW Atlanta, GA 30318

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,300,000

    Recently renovated 7-unit apartment building near downtown Atlanta.

    Building Details

    Year built
    1969

    We can help!

    Listing Contact
    Andy Lundsberg
    Andy Lundsberg
    Source: Bullrealty

    Listing Agent: Andy Lundsberg

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Grove Park Renovated Apartment Building

    This 7-unit apartment building is located in the Grove Park neighborhood of Northwest Atlanta. The property has been recently gut renovated, including new electric, plumbing, HVAC, windows, and roofs. Each unit features 2 bedrooms and 1 bathroom, with in-unit laundry connections. Water is submetered for each unit. Off-street parking is available in the rear. The property is located in close proximity to downtown Atlanta and the new Westside Beltline Trail. The property also features spacious kitchens.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Atlanta
    County
    Cobb
    State
    Georgia
    Longitude
    -84.4393071
    Latitude
    33.7653547

    Nearby Similar for Sale

    • $520,000
      1,320 SF

      Turn-Key Production Suite Along BeltLine

      Fully built, soundproofed editing and production suite in Ormewood Park.
      934 Glenwood Ave SE, Atlanta, GA 30316
      View Details
    • $475,000
      2,200 SF

      Live/Work Townhouse with Storefront Office

      Luxury townhome with storefront office in historic Riverside.
      2030 Main St NW, Atlanta, GA 30318
      View Details
    • New
      $1,000,000
      1,822 SF

      Peachtree Street Retail Condo

      Retail condo zoned C-3, ideal for various retail uses.
      32 Peachtree St NW, Atlanta, GA 30303
      View Details
    • New
      $1,000,000
      1,822 SF

      Peachtree Street Retail Condo

      Retail condo in high-traffic area near Woodruff Park.
      32 Peachtree St NW, Atlanta, GA 30303
      View Details
    • New
      $1,395,000
      2,828 SF

      Turnkey Dental Office in Atlanta

      Fully operational dental office in a prime Atlanta location.
      1624 Piedmont Ave NE, Atlanta, GA 30324
      View Details
    • New
      $300,000
      1,198 SF

      Professional Office Condo in Atlanta

      Well-appointed office suite ideal for various professional uses.
      950 Dannon Vw SW, Atlanta, GA 30331
      View Details
    • $379,000
      1,416 SF

      Buckhead Office Condo For Sale

      Prime 1,416 SF office condo in the heart of Buckhead.
      3017 Piedmont Rd NE, Atlanta, GA 30305
      View Details
    • $300,000
      1,198 SF

      Professional Office Condo in Atlanta

      Well-appointed office suite ideal for various professional services.
      950 Dannon Vw SW, Atlanta, GA 30331
      View Details
    • $650,000
      600 SF

      Prime Atlanta Redevelopment Opportunity

      High-visibility mixed-use redevelopment site near downtown Atlanta.
      226 Northside Dr SW, Atlanta, GA 30313
      View Details
    • $650,000
      600 SF

      Prime Atlanta Redevelopment Opportunity

      Redevelopment site in the heart of Atlanta's momentum.
      226 Northside Dr SW, Atlanta, GA 30313
      View Details
    • $360,000
      1,335 SF

      Versatile Office/Daycare in Atlanta

      Tenant-occupied, flexible space ideal for office or institutional use.
      5755 Stonewall Tell Rd, Atlanta, GA 30349
      View Details
    • $999,900
      5,600 SF

      Atlanta Commercial Property with Redevelopment Potential

      Two-building commercial property with investment and redevelopment opportunities in Atlanta.
      2667 Donald Lee Hollowell Pkwy, Atlanta, GA 30318
      View Details

    FAQs

    What type of property is this?
    Apartment building - Recently renovated 7-unit apartment building near downtown Atlanta.
    Where is this apartment building located?
    The property is located at 371 Lanier St NW Atlanta, GA.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: - Gut renovated with new electric, plumbing, HVAC, windows, and roofs.; - Located in the up-and-coming Grove Park neighborhood of NW Atlanta.; - All units are 2 bed/1 bath with in-unit laundry connections.
    (404) 876-1640
    Request Owner's contact information
    371 Lanier St NW Atlanta, GA 30318
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    371 Lanier St NW
    Atlanta, GA 30318
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    371 Lanier St NW Atlanta, GA 30318
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Andy Lundsberg
    Andy Lundsberg
    Real Estate License ID: 256959
    (404) 876-1640
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!