Centennial Olympic Park Development
355 Centennial Olympic Park Drive Atlanta, GA 30313
355 Centennial Olympic Park Drive, Atlanta, GA, 30313
$11,500,000
For Sale
$11,500,000
0.81-acre parcel for high-rise development near Centennial Olympic Park.
Property Size162,772 SF
Lot Size0.81 Acres
Price / SF$70.65
Days on Market175
Property Features for 355 Centennial Olympic Park Drive
General Information
- Standard status
- Active
- Size
- 162,772 SF
- Lot size
- 0.81 Acres
Listing agency
Bull Realty
(404) 876-1640
Listed by
Michael Bull, CCIM · License #165894
Source
Bullrealty
Added: Jan 27 Updated: Jul 6 at 10:19AM Checked: Jul 21 at 4:42AM
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 Bull Realty
Investment Insights
Based on property information with market context.
Located directly adjacent to Centennial Olympic Park in downtown Atlanta, this approximately 0.81-acre corner parcel presents a development opportunity for a high-rise multifamily, mixed-use, or hospitality project. The site benefits from park and skyline views, including unobstructed sunset vistas. It is situated in Atlanta’s tourism and entertainment district. The site is shovel-ready for a 188-key, approximately 162,772 square feet hotel, with full construction plans and entitlements already in place. The flexible SPI-1 SA5 zoning supports high-density multifamily, office, retail, or mixed-use development. The topography features a slightly rising eastward slope, suitable for structured parking and vertical development. The site is within walking distance of Centennial Olympic Park, Georgia Aquarium, World of Coca-Cola, Mercedes-Benz Stadium, State Farm Arena, Georgia World Congress Center, and various dining, entertainment, and cultural attractions. The Walk Score is 90, indicating a Walker’s Paradise, and the Transit Score is 78, reflecting excellent transit access. The property generates an income of $5,000 to $12,000 per month from existing parking. The location benefits from tourism, convention, sports, and entertainment demand drivers.
Key Highlights
- Premier location directly adjacent to Centennial Olympic Park in downtown Atlanta with exceptional park, skyline, and sunset views.
- Shovel‑ready for a 188‑key hotel (±162,772 SF) with full construction plans and entitlements in place, significantly reducing development time and risk.
- Flexible SPI‑1 SA5 zoning supports high‑density development for hotel, multifamily, office, retail, or mixed‑use projects.
Local Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $2.34M | $14.40 |
| − Vacancy | −$281.3k | −$1.73 |
| EGI | $2.06M | $12.67 |
| − OpEx | −$1.08M | −$6.65 |
| NOI | $979.8k | $6.02 |
162,772 SF · lease $14.40/SF/yr · vacancy 12.00% · expense 52.50%
Alternative Uses
Best Use
Mixed Use
$28.25M
$24.72M – $32.96M
NOI $1,977,680 @ 7.0% cap · market cap 17.20%
Second Best
Retail
$27.10M
$23.71M – $31.62M
NOI $1,897,108 @ 7.0% cap · market cap 16.50%
Theoretical Best
Office A
$45.50M
$39.81M – $53.08M
NOI $3,185,070 @ 7.0% cap · market cap 27.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - 0.81-acre parcel for high-rise development near Centennial Olympic Park.
Where is this commercial land located?
The property is located at 355 Centennial Olympic Park Drive Atlanta, GA.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: Premier location directly adjacent to Centennial Olympic Park in downtown Atlanta with exceptional park, skyline, and sunset views.; Shovel‑ready for a 188‑key hotel (±162,772 SF) with full construction plans and entitlements in place, significantly reducing development time and risk.; Flexible SPI‑1 SA5 zoning supports high‑density development for hotel, multifamily, office, retail, or mixed‑use projects.
