Mixed-Use Corner Development
For Sale
$870,000
2410 Metropolitan Parkway SW, Atlanta, GA 30315
Commercial Sale, Atlanta, GA
Property Size3,464 SF
Lot Size1.21 Acres
Price / SF$251.15
Days on Market350
Property Features for 2410 Metropolitan Parkway SW
General Information
Property type
Residential
Property subtype
Retail
Zoning
MRC-2
Parking
50
Parking features
Parking Lot
Window features
Aluminum Frames
Interior features
Restrooms
Fencing
Chain Link
Lot features
Corner Lot, Level
View
City
Directions
85 South to Metropolitan Pkwy exit, turn right, Property on Right at the corner of Pegg Rd.
Standard status
Active
APN
14 009200010017
Size
3,464 SF
Lot size
1.21 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4988
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Flooring type
Concrete
Building materials
Block
Roof type
Built-Up
Listing Agency:
Realty Associates of Atlanta, LLC.
(404) 235-8900
Listed By:
Chris Prevost
(770) 545-9434
Added: Oct 1, 2025
Changed: Aug 19
Last Checked: Sep 15 at 11:06PM
MLS# 7659631
Copyright © 2026 First Multiple Listing Service, Inc. 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.
Located at 2410 Metropolitan Parkway SW in Atlanta, this commercial land parcel includes an existing block building associated with former taxi and auto-repair operations. The improvements feature concrete flooring, restrooms, a parking lot, chain-link fencing, and a built-up roof. Public water and public sewer serve the property, with cable available. The structure was built in 1950.
MRC-2 zoning is designated for mixed-use redevelopment, including retail and residential uses. 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 across the street. Additional nearby developments include a Goodwill Donation Center and an Atlanta Police precinct. The property is within a designated Tax Allocation District, with potential City of Atlanta development incentives identified in the listing information.
MRC-2 zoning is designated for mixed-use redevelopment, including retail and residential uses. 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 across the street. Additional nearby developments include a Goodwill Donation Center and an Atlanta Police precinct. The property is within a designated Tax Allocation District, with potential City of Atlanta development incentives identified in the listing information.
Key Highlights
- MRC‑2 zoning for mixed‑use redevelopment, including retail and residential uses
- Signalized corner at Metropolitan Parkway and Pegg Road
- Existing block building with concrete flooring, restrooms, and built‑up roof
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
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - MRC-2 zoning permits mixed-use, retail, and residential redevelopment at a signalized intersection.
Where is this commercial land located?
The property is located at 2410 Metropolitan Parkway 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: MRC‑2 zoning for mixed‑use redevelopment, including retail and residential uses; Signalized corner at Metropolitan Parkway and Pegg Road; Existing block building with concrete flooring, restrooms, and built‑up roof
