Two-Story Mixed-Use
New
For Sale
$5,400,000
351 Moreland Ave NE, Atlanta, GA 30307
The first floor contains two completed restaurant suites, with adaptable space on the level above.
Property Size20,222 SF
Price / SF$267.04
Days on Market3
Property Features for 351 Moreland Ave NE
General Information
Standard status
Active
Size
20,222 SF
Property subtype
Available Restaurants
Building Details
Year Built
1953
Buildings
1
Stories
2
Building Size
20,222 SF
Listing Agency:
Bull Realty
(404) 876-1640
Listed By:
Michael Bull, CCIM · License #165894
Source:
Bullrealty
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 6:30AM
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.
The WB George building is a two-story mixed-use property totaling approximately ±20,222 SF. Its ground level is configured with two fully built-out restaurant spaces, while the upper floor provides flexible commercial space that can accommodate varied uses.
Constructed in 1953, the building is located at 351 Moreland Ave NE in Atlanta, Georgia. The property combines restaurant-oriented improvements on the first floor with additional usable space above, creating a multi-level commercial layout for an investor or owner-user.
Constructed in 1953, the building is located at 351 Moreland Ave NE in Atlanta, Georgia. The property combines restaurant-oriented improvements on the first floor with additional usable space above, creating a multi-level commercial layout for an investor or owner-user.
Key Highlights
- Approximately ±20,222 SF across two stories
- Two fully built‑out restaurant spaces on the first floor
- Flexible commercial space occupies the second floor
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
$273,725
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
5.07%
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%
$5,474,500
$5.5M
Cap Rate 7%
$3,910,357
$3.9M
Cap Rate 9%
$3,041,389
$3.0M
Market Conditions
NOI Build-Up for 20,222 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
$388.3K $19.20/SF
− Vacancy
−$23.3K −$1.15/SF
EGI
$365.0K $18.05/SF
− OpEx
−$91.2K −$4.51/SF
NOI
$273.7K $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 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%
$5,474,500
Cap Rate 7%
$3,910,357
Cap Rate 9%
$3,041,389
Alternative Uses
Best Use
Specialty Retail
$3.91M
$3.42M – $4.56M
NOI $273,725 @ 7.0% cap · market cap 5.07%
Second Best
Mixed Use
$3.51M
$3.07M – $4.09M
NOI $245,697 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$5.65M
$4.95M – $6.59M
NOI $395,698 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,461
Businesses Nearby
Explore this area
Business Placement
Demographics for 30307, GA
20,807
Population
10,308
Households
2
Avg Household Size
37
Median Age
82%
College-Educated
98%
High-School Grad
4.5 sq mi
ZIP Area
4,624
Density / Sq Mi
$147,553
Median Household Income
$86,485
Median Earnings
$2,001
Median Rent
$704,100
Median Home Value
Market
Vacancy Rate% for Retail in Atlanta, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The first floor contains two completed restaurant suites, with adaptable space on the level above.
Where is this mixed-use property located?
The property is located at 351 Moreland Ave NE Atlanta, GA.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: Approximately ±20,222 SF across two stories; Two fully built‑out restaurant spaces on the first floor; Flexible commercial space occupies the second floor
