Corner Commercial-Residential Land
1503 Memorial SE Atlanta, GA 30317
For Sale
Contact for pricing
Corner lot parcel at 1503 Memorial SE suitable for commercial or residential use, including retail or restaurant concepts.
Property Size1,880 SF
Price / SF$345.74
Days on Market503
Property Features for 1503 Memorial SE
General Information
- Standard status
- Active
- Size
- 1,880 SF
- Property subtype
- RETAIL
Listing Agency:
1st Classic Realty
(404) 510-8368
Listed By:
Mbanefo Osakwe · License #375644
Source:
Moodyscre
Added: Mar 11, 2025
Changed: Jul 25
Last Checked: Jul 26 at 1:54PM
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 1st Classic Realty
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.
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 For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.1k | $19.20 |
| − Vacancy | −$2.2k | −$1.15 |
| EGI | $33.9k | $18.05 |
| − OpEx | −$8.5k | −$4.51 |
| NOI | $25.4k | $13.54 |
1,880 SF · lease $19.20/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$363.5K
$318.1K – $424.1K
NOI $25,448 @ 7.0% cap · market cap 3.92%
Second Best
Retail
$313.0K
$273.9K – $365.2K
NOI $21,911 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$525.5K
$459.8K – $613.1K
NOI $36,787 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Church of God In True ...
Church
Similar Off Market Nearby
- Kroger Floral — 1225 Caroline St NE N, Atlanta, GA 30307
FAQs
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
