Three-Story Office
For Sale
$1,699,000
56 17th St NE, Atlanta, GA 30309
Three-story office building with multiple interior and exterior entrances plus rear reserved parking and street parking.
Property Size3,613 SF
Lot Size0.11 Acres
Price / SF$470.25
Days on Market79
Property Features for 56 17th St NE
General Information
Standard status
Active
Size
3,613 SF
Total Parking Spaces
5
Lot size
0.11 Acres
Zoning
C-3
Additional Details
Road Access
Yes
Building Details
Year Built
1914
Stories
3
Listing Agency:
Compass
Listed By:
Angela Beck · License #364112
(770) 330-5015
Source:
Leagrouprealestate
Added: Jun 20
Changed: Sep 3
Last Checked: Sep 5 at 11:48AM
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 Compass
Investment Insights
Based on property information with market context.
This three-story office building offers a main level with an open office layout, waiting area, conference room, and kitchenette. The second floor features four private offices, a second bathroom, and access to a finished attic for additional storage. The lower level is accessible via interior and exterior entrances and includes a full kitchen, bathroom, and flexible room space.
The property sits at the edge of Ansley Park in intown Atlanta, with proximity to MARTA and destinations including the High Museum and Colony Square. It has approximately 53 feet of street frontage along 17th Street NE and lot dimensions of approximately 53 feet (front and rear) by 104 feet (sides), for an approximate total lot area of 5,000 square feet. Zoning is C-3 (Commercial).
Parking includes 4–5 reserved spaces at the rear, with permitted street parking available. The listing also notes the possibility of additional parking rentals in adjacent buildings.
The property sits at the edge of Ansley Park in intown Atlanta, with proximity to MARTA and destinations including the High Museum and Colony Square. It has approximately 53 feet of street frontage along 17th Street NE and lot dimensions of approximately 53 feet (front and rear) by 104 feet (sides), for an approximate total lot area of 5,000 square feet. Zoning is C-3 (Commercial).
Parking includes 4–5 reserved spaces at the rear, with permitted street parking available. The listing also notes the possibility of additional parking rentals in adjacent buildings.
Key Highlights
- Three‑story commercial office building in Intown Atlanta near Ansley Park with multiple interior and exterior entrances.
- Flexible layout: main level open office space with waiting area, conference room, and kitchenette.
- Second floor features four private offices, a second bathroom, and access to a finished attic for extra storage.
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
$48,382
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
2.85%
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%
$967,640
$967.6K
Cap Rate 7%
$691,171
$691.2K
Cap Rate 9%
$537,578
$537.6K
Market Conditions
NOI Build-Up for 3,613 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
$86.2K $23.87/SF
− Vacancy
−$21.7K −$6.02/SF
EGI
$64.5K $17.85/SF
− OpEx
−$16.1K −$4.46/SF
NOI
$48.4K $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%
$967,640
Cap Rate 7%
$691,171
Cap Rate 9%
$537,578
Alternative Uses
Best Use
Office B
$691.2K
$604.8K – $806.4K
NOI $48,382 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$883.7K – $1.18M
NOI $70,698 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,963
Businesses Nearby
Explore this area
Business Placement
Demographics for 30309, GA
31,856
Population
20,558
Households
1.5
Avg Household Size
34
Median Age
84%
College-Educated
98%
High-School Grad
3.3 sq mi
ZIP Area
9,653
Density / Sq Mi
$111,894
Median Household Income
$81,517
Median Earnings
$2,123
Median Rent
$414,700
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 - Three-story office building with multiple interior and exterior entrances plus rear reserved parking and street parking.
Where is this office building located?
The property is located at 56 17th St NE Atlanta, GA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Three‑story commercial office building in Intown Atlanta near Ansley Park with multiple interior and exterior entrances.; Flexible layout: main level open office space with waiting area, conference room, and kitchenette.; Second floor features four private offices, a second bathroom, and access to a finished attic for extra storage.
