Listing Agency: 1st Classic Realty Show Phone

Listed By: Mbanefo Osakwe · License #375644 Show Phone

Source: Moodyscre

Added: Mar 11, 2025 Changed: Oct 1 Last Checked: Oct 24 at 7:11PM

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Investment Insights

Based on property information with market context.

This is a corner lot commercial land parcel offered for sale at 1503 Memorial SE, Atlanta, GA 30317. The site is described as adaptable for both commercial and residential use, with potential highlighted for a restaurant or retail store.

The property is positioned on a corner at Memorial Drive and Lamon Avenue. Its existing location at an intersection supports flexible planning for compatible commercial or residential development, subject to applicable approvals.

The parcel is listed at approximately 1,880 square feet, providing a compact footprint for appropriate site planning and design.

Key Highlights

• Corner lot parcel at 1503 Memorial SE
• Corner location at Memorial Drive and Lamon Avenue
• Suitable for commercial or residential use, including retail or restaurant concepts

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,448

Cap Rate

3.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$508,960 $509.0K

Cap Rate 7%

$363,543 $363.5K

Cap Rate 9%

$282,756 $282.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,880 SF

Gross rent

$36.1K $19.20/SF

− Vacancy

−$2.2K −$1.15/SF

EGI

$33.9K $18.05/SF

− OpEx

−$8.5K −$4.51/SF

NOI

$25.4K $13.54/SF

Area

Atlanta, GA

Vacancy

6.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$508,960

Cap Rate 7%

$363,543

Cap Rate 9%

$282,756

Alternative Uses

Best Use

Specialty Retail

$363.5K

$318.1K – $424.1K (±1% cap)

NOI $25,448 @ 7.0% cap · market cap 3.92%

Second Best

Retail

$313.0K

$273.9K – $365.2K (±1% cap)

NOI $21,911 @ 7.0% cap · market cap 3.37%

Theoretical Best

Office A

$525.5K

$459.8K – $613.1K (±1% cap)

NOI $36,787 @ 7.0% cap · market cap 5.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Church of God In True ... Church

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Building Supply Electrical Service Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

891

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 30317, GA

13,774

Population

7,220

Households

1.9

Avg Household Size

36

Median Age

61%

College-Educated

95%

High-School Grad

3.5 sq mi

ZIP Area

3,935

Density / Sq Mi

$105,190

Median Household Income

$64,968

Median Earnings

$1,619

Median Rent

$510,600

Median Home Value

Market

Vacancy Rate% for Retail in Atlanta, GA

6.7% 2019

6.6% 2020

5.5% 2021

4.4% 2022

4.1% 2023

4.4% 2024

5% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Corner lot parcel at 1503 Memorial SE suitable for commercial or residential use, including retail or restaurant concepts.

Where is this storefront property located?

The property is located at 1503 Memorial SE Atlanta, GA.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: Corner lot parcel at 1503 Memorial SE; Corner location at Memorial Drive and Lamon Avenue; Suitable for commercial or residential use, including retail or restaurant concepts