Commercial Land With Mixed-Use
For Sale
$870,000
2410 Metropolitan Pkwy SW, Atlanta, GA 30315
Corner parcel with high-density mixed-use and multifamily development potential at a signalized intersection.
Property Size3,464 SF
Price / SF$251.15
Days on Market41
Property Features for 2410 Metropolitan Pkwy SW
General Information
Standard status
Active
Size
3,464 SF
Building Details
Year Built
1950
Listing Agency:
Realty Associates of Atlanta, LLC.
(770) 545-9434
Listed By:
Chris Prevost
Source:
Shortsaleatlanta
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 25 at 5:27AM
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 Realty Associates of Atlanta, LLC.
Investment Insights
Based on property information with market context.
This 1.2+ acre commercial land parcel includes an existing structure built in 1950 and is positioned for mixed-use redevelopment. The stated zoning and use support high-density, multifamily, and retail development. The property previously operated as a taxi business and auto repair facility.
Located at 2410 Metropolitan Pkwy SW in Atlanta, the site occupies the signalized intersection of Metropolitan Parkway and Pegg Road. A 176-unit mixed-use apartment community is under construction one block away, while a newly built strip center with a gas station is directly across the street. A Goodwill Donation Center and Atlanta Police precinct are also nearby. The property lies within a designated Tax Allocation District.
Located at 2410 Metropolitan Pkwy SW in Atlanta, the site occupies the signalized intersection of Metropolitan Parkway and Pegg Road. A 176-unit mixed-use apartment community is under construction one block away, while a newly built strip center with a gas station is directly across the street. A Goodwill Donation Center and Atlanta Police precinct are also nearby. The property lies within a designated Tax Allocation District.
Key Highlights
- 1.2+ acres at the corner of Metropolitan Parkway and Pegg Road
- Mixed‑use zoning and use supporting high‑density, multifamily, and retail development
- Signalized intersection at 2410 Metropolitan Pkwy SW, Atlanta, GA 30315
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
$40,373
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
4.64%
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%
$807,460
$807.5K
Cap Rate 7%
$576,757
$576.8K
Cap Rate 9%
$448,589
$448.6K
Market Conditions
NOI Build-Up for 3,464 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
$62.4K $18.00/SF
− Vacancy
−$4.7K −$1.35/SF
EGI
$57.7K $16.65/SF
− OpEx
−$17.3K −$5.00/SF
NOI
$40.4K $11.66/SF
Area
Atlanta, GA
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$807,460
Cap Rate 7%
$576,757
Cap Rate 9%
$448,589
Alternative Uses
Best Use
Retail
$576.8K
$504.7K – $672.9K
NOI $40,373 @ 7.0% cap · market cap 4.64%
Second Best
Industrial
$285.7K
$250.0K – $333.4K
NOI $20,002 @ 7.0% cap · market cap 2.30%
Theoretical Best
Office A
$968.3K
$847.3K – $1.13M
NOI $67,782 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
Explore this area
Business Placement
Demographics for 30315, GA
34,327
Population
15,458
Households
2.2
Avg Household Size
34
Median Age
28%
College-Educated
82%
High-School Grad
11.5 sq mi
ZIP Area
2,985
Density / Sq Mi
$42,383
Median Household Income
$36,311
Median Earnings
$989
Median Rent
$266,200
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?
Commercial land - Corner parcel with high-density mixed-use and multifamily development potential at a signalized intersection.
Where is this commercial land located?
The property is located at 2410 Metropolitan Pkwy SW Atlanta, GA.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: 1.2+ acres at the corner of Metropolitan Parkway and Pegg Road; Mixed‑use zoning and use supporting high‑density, multifamily, and retail development; Signalized intersection at 2410 Metropolitan Pkwy SW, Atlanta, GA 30315
