Refreshed Residential Income
For Sale
$240,000
799 Hammond Drive Unit 123, Atlanta, GA 30328
Updated condo with balcony, two bedrooms, dual ensuite baths, and access to concierge-served community amenities.
Property Size1,014 SF
Price / SF$236.69
Days on Market52
Property Features for 799 Hammond Drive Unit 123
General Information
Standard status
Active
Size
1,014 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
private balcony
in-unit stackable washer and dryer
private storage closet
resort-style pool
wine room/clubroom
dog park
full-time concierge service
Building Details
Year Built
2004
Listing Agency:
Hirsh Real Estate- SandySprings.com
(404) 317-1138
Listed By:
Marci Robinson
(404) 317-1138
Source:
Sandysprings
Added: Jul 11
Changed: Aug 30
Last Checked: Aug 30 at 1:00PM
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 Hirsh Real Estate- SandySprings.com
Investment Insights
Based on property information with market context.
This 1,014-square-foot condominium at Park Towers Place was built in 2004 and recently updated with neutral paint and new LVP flooring. The open living area receives natural light and opens to a private balcony. The kitchen includes stained cabinetry, granite countertops, a gas cooktop, oven, dishwasher, and new microwave. The primary suite offers a walk-in closet, dual-vanity bath, soaking tub, and separate shower. A second bedroom includes its own walk-in closet and ensuite bath with a large vanity and walk-in shower.
The residence also includes an in-unit stackable washer and dryer, two deeded parking spaces, and a private storage closet. Community amenities include a resort-style pool, wine room, clubroom, dog park, and full-time concierge service. The property is located near dining and shopping, with access to GA 400 and I-285.
The residence also includes an in-unit stackable washer and dryer, two deeded parking spaces, and a private storage closet. Community amenities include a resort-style pool, wine room, clubroom, dog park, and full-time concierge service. The property is located near dining and shopping, with access to GA 400 and I-285.
Key Highlights
- 1,014 SF condominium at Park Towers Place
- Built in 2004 and updated with new LVP flooring and neutral paint
- Private balcony and open living area with natural light
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
$13,622
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
5.68%
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%
$272,440
$272.4K
Cap Rate 7%
$194,600
$194.6K
Cap Rate 9%
$151,356
$151.4K
Market Conditions
NOI Build-Up for 1,014 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
$26.4K $26.04/SF
− Vacancy
−$1.6K −$1.61/SF
EGI
$24.8K $24.43/SF
− OpEx
−$11.1K −$10.99/SF
NOI
$13.6K $13.43/SF
Area
ZIP 30328
Vacancy
6.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$272,440
Cap Rate 7%
$194,600
Cap Rate 9%
$151,356
Alternative Uses
Best Use
Apartment 5plus
$194.6K
$170.3K – $227.0K
NOI $13,622 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$283.5K
$248.0K – $330.7K
NOI $19,842 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,479
Businesses Nearby
Explore this area
Business Placement
Demographics for 30328, GA
40,322
Population
19,878
Households
2
Avg Household Size
38
Median Age
72%
College-Educated
97%
High-School Grad
12.7 sq mi
ZIP Area
3,175
Density / Sq Mi
$113,736
Median Household Income
$74,406
Median Earnings
$1,943
Median Rent
$551,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo with balcony, two bedrooms, dual ensuite baths, and access to concierge-served community amenities.
Where is this residential income property located?
The property is located at 799 Hammond Drive Unit 123 Atlanta, GA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1,014 SF condominium at Park Towers Place; Built in 2004 and updated with new LVP flooring and neutral paint; Private balcony and open living area with natural light
