Covered-Land Retail Building with
For Sale
$4,225,000
1495 Northside Dr NW, Atlanta, GA 30318
Two-tenant retail building with up to 18' ceilings, 49-space surface parking, and frontage on Northside Drive NW.
Property Size13,368 SF
Lot Size0.77 Acres
Price / SF$316.05
Days on Market24
Property Features for 1495 Northside Dr NW
General Information
Standard status
Active
Size
13,368 SF
Total Parking Spaces
49
Lot size
0.77 Acres
Property subtype
Retail
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
7.2%
Clear Height
18 ft
Building Details
Building Size
13,368 SF
Year Built
1952
Tenancy
Multi
Listing Agency:
Bull Realty
(404) 876-1640
Listed By:
Michael Wess, CCIM
Source:
Bullrealty
Added: Jul 24
Changed: Aug 14
Last Checked: Aug 16 at 5:33AM
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.
This two-tenant retail building totals 13,368 square feet and is currently 100% leased to Team Rehabilitation and Sam Flax. The tenant roster includes a physical therapy provider and an Atlanta art supply retailer. Interior ceiling heights range up to approximately 18 feet, supporting flexible retail and service layouts.
The property sits on a 0.774-acre parcel with excellent visibility along Northside Drive NW, with three ingress/egress points and a permanent easement from Deering Road NW. It is directly across from the Atlanta BeltLine, and the site includes 49 surface parking spaces to support customer access.
For sale as a covered land investment, the asset offers in-place rental income along with the option to evaluate future redevelopment possibilities as the BeltLine corridor continues to evolve. Immediate access is also described for I-75 and the West Midtown, Georgia Tech, Midtown, and Downtown Atlanta areas.
The property sits on a 0.774-acre parcel with excellent visibility along Northside Drive NW, with three ingress/egress points and a permanent easement from Deering Road NW. It is directly across from the Atlanta BeltLine, and the site includes 49 surface parking spaces to support customer access.
For sale as a covered land investment, the asset offers in-place rental income along with the option to evaluate future redevelopment possibilities as the BeltLine corridor continues to evolve. Immediate access is also described for I-75 and the West Midtown, Georgia Tech, Midtown, and Downtown Atlanta areas.
Key Highlights
- 13,368 SF two‑tenant retail building built in 1952 with up to 18' ceiling heights
- 100% leased to Team Rehabilitation and Sam Flax (physical therapy provider and art supply retailer)
- 7.2% current cap rate and in‑place cash flow supported by full occupancy
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
$194,809
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
4.61%
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%
$3,896,180
$3.9M
Cap Rate 7%
$2,782,986
$2.8M
Cap Rate 9%
$2,164,544
$2.2M
Market Conditions
NOI Build-Up for 13,368 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
$352.9K $26.40/SF
− Vacancy
−$28.2K −$2.11/SF
EGI
$324.7K $24.29/SF
− OpEx
−$129.9K −$9.72/SF
NOI
$194.8K $14.57/SF
Area
ZIP 30318
Vacancy
8.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$3,896,180
Cap Rate 7%
$2,782,986
Cap Rate 9%
$2,164,544
Alternative Uses
Best Use
Healthcare Medical
$2.78M
$2.44M – $3.25M
NOI $194,809 @ 7.0% cap · market cap 4.61%
Second Best
Retail
$2.69M
$2.35M – $3.13M
NOI $188,026 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$3.74M
$3.27M – $4.36M
NOI $261,581 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 30318, GA
60,392
Population
29,993
Households
2
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
20.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$79,222
Median Household Income
$53,455
Median Earnings
$1,702
Median Rent
$395,100
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?
Retail space - Two-tenant retail building with up to 18' ceilings, 49-space surface parking, and frontage on Northside Drive NW.
Where is this retail space located?
The property is located at 1495 Northside Dr NW Atlanta, GA.
What is the asking price?
The asking price for this property is $4,225,000.
What are key features of this property?
This property features: 13,368 SF two‑tenant retail building built in 1952 with up to 18' ceiling heights; 100% leased to Team Rehabilitation and Sam Flax (physical therapy provider and art supply retailer); 7.2% current cap rate and in‑place cash flow supported by full occupancy
