Creative Office Building in
For Sale
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1468 MECASLIN ST NW, Atlanta, GA 30309
Freestanding 4,760 SF creative office building for sale.
Property Size5,000 SF
Price / SF$420
Days on Market103
Property Features for 1468 MECASLIN ST NW
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Office, Industrial
Investment Type
Value Add
Building Details
Year Built
1955
Stories
1
Units
25
Listing Agency:
Harrison Properties
(404) 384-3330
Listed By:
John Harrison · License #230861
Source:
Crexi
Added: May 14
Changed: Aug 14
Last Checked: Aug 24 at 11:57AM
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 Harrison Properties
Investment Insights
Based on property information with market context.
The property at 1468 Mecaslin St is a 4,760 SF freestanding creative office building located in the Atlantic Station/Loring Heights corridor of Atlanta, Georgia. Constructed in 1955, the building features a brick and block structure and is zoned I-1 (Light Industrial). This zoning provides flexibility for redevelopment, adaptive reuse, or repositioning. Situated between Peachtree St and Northside Dr, bordering Midtown and Buckhead, the property benefits from proximity to Atlanta's commercial, retail, and entertainment areas. The location offers access to a residential base and adjacency to Atlantic Station and the Midtown business district. This property represents a value-add or owner-user opportunity in an intown location.
Key Highlights
- Prime Location: In the heart of Atlantic Station/Loring Heights, offering unrivaled access to Atlanta's key areas.
- Significant Size: A spacious 4,760 SF freestanding building.
- Flexible Zoning: I‑1 zoning allows for redevelopment or adaptive reuse.
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
$66,955
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
3.19%
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%
$1,339,100
$1.3M
Cap Rate 7%
$956,500
$956.5K
Cap Rate 9%
$743,944
$743.9K
Market Conditions
NOI Build-Up for 5,000 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
$119.4K $23.87/SF
− Vacancy
−$30.1K −$6.02/SF
EGI
$89.3K $17.85/SF
− OpEx
−$22.3K −$4.46/SF
NOI
$67.0K $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%
$1,339,100
Cap Rate 7%
$956,500
Cap Rate 9%
$743,944
Alternative Uses
Best Use
Office B
$956.5K
$836.9K – $1.12M
NOI $66,955 @ 7.0% cap · market cap 3.19%
Second Best
Flex RnD
$709.8K
$621.1K – $828.1K
NOI $49,686 @ 7.0% cap · market cap 2.37%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,838 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,393
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?
Creative space - Freestanding 4,760 SF creative office building for sale.
Where is this creative space located?
The property is located at 1468 MECASLIN ST NW Atlanta, GA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Prime Location: In the heart of Atlantic Station/Loring Heights, offering unrivaled access to Atlanta's key areas.; Significant Size: A spacious 4,760 SF freestanding building.; Flexible Zoning: I‑1 zoning allows for redevelopment or adaptive reuse.
