Freestanding Restaurant
For Sale
$499,500
1615 Memorial Drive SE, Atlanta, GA 30317
Commercial Sale, Atlanta, GA
Property Size1,120 SF
Lot Size0.16 Acres
Price / SF$445.98
Days on Market192
Property Features for 1615 Memorial Drive SE
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
Level
Directions
I-20 to Moreland Ave North. Right onto Memorial Dr. to 1615 Memorial Dr.
Standard status
Active
APN
15 178 04 015
Size
1,120 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
1765
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1969
Building materials
Brick
Roof type
Metal
Listing Agency:
Keller Williams Realty Atl. Partners
(770) 252-2266
Listed By:
Angie Mckernan · License #376845
(770) 584-8187
Added: Apr 6
Changed: Aug 19
Last Checked: Oct 14 at 10:06PM
MLS# 10725713
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Freestanding brick commercial building totaling 1,120 square feet on a 0.16-acre lot. Built in 1969, the property includes a metal roof, window unit cooling, a parking lot, water availability, public water, and public sewer. Its prior restaurant operation supports continued consideration for food service use or other commercial occupancy, subject to verification of zoning, uses, and utilities.
The property fronts Memorial Drive with approximately 70 feet of frontage and convenient access to I-20. It is located in Atlanta’s East Atlanta/Edgewood area, surrounded by dense residential neighborhoods. C2 zoning and the standalone configuration provide a foundation for evaluating restaurant, retail, or other permitted commercial uses.
The property fronts Memorial Drive with approximately 70 feet of frontage and convenient access to I-20. It is located in Atlanta’s East Atlanta/Edgewood area, surrounded by dense residential neighborhoods. C2 zoning and the standalone configuration provide a foundation for evaluating restaurant, retail, or other permitted commercial uses.
Key Highlights
- 1,120‑square‑foot freestanding building on a 0.16‑acre lot
- C2 zoning in the City of Atlanta
- Approximately 70 feet of frontage along Memorial Drive
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,160
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,200
$303.2K
Cap Rate 7%
$216,571
$216.6K
Cap Rate 9%
$168,444
$168.4K
Market Conditions
NOI Build-Up for 1,120 SF
Gross rent
$21.5K $19.20/SF
− Vacancy
−$1.3K −$1.15/SF
EGI
$20.2K $18.05/SF
− OpEx
−$5.1K −$4.51/SF
NOI
$15.2K $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%
$303,200
Cap Rate 7%
$216,571
Cap Rate 9%
$168,444
Alternative Uses
Best Use
Specialty Retail
$216.6K
$189.5K – $252.7K
NOI $15,160 @ 7.0% cap · market cap 3.04%
Second Best
Retail
$186.5K
$163.2K – $217.6K
NOI $13,054 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$313.1K
$274.0K – $365.3K
NOI $21,916 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
722
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Atlanta, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Brick commercial building with C2 zoning, public utilities, and a layout suited to food service or neighborhood retail.
Where is this conventional restaurant located?
The property is located at 1615 Memorial Drive SE Atlanta, GA.
What is the asking price?
The asking price for this property is $499,500.
What are key features of this property?
This property features: 1,120‑square‑foot freestanding building on a 0.16‑acre lot; C2 zoning in the City of Atlanta; Approximately 70 feet of frontage along Memorial Drive
