Live-Work Development Land
For Sale
$599,900
2464 Woodward Road, Atlanta, GA 30349
Commercial Sale, South Fulton, GA
Property Size2,176 SF
Lot Size1.88 Acres
Price / SF$275.69
Days on Market62
Property Features for 2464 Woodward Road
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Level, Near Public Transit
Directions
GPS friendly
Standard status
Active
APN
13 0132 LL0344
Size
2,176 SF
Lot size
1.88 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
3094
Utilities
Sewer type
Septic Tank
Water source
Public
Building Details
Year built
1965
Building materials
Brick
Listing Agency:
Keller Williams Realty Atl. Partners
(770) 252-2266
Listed By:
Mandy Foles
(678) 416-2979
Added: Jun 23
Changed: Aug 19
Last Checked: Aug 23 at 10:06AM
MLS# 10795602
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.
This offering presents a combined 1.88-acre assemblage that includes 2464 Woodward Rd and the adjacent Parcel 13 0132 LL0351. An existing home is located on the property; however, the pricing is based on land value with no value assigned to the residence. The parcels are presented for future development consistent with the City of South Fulton’s Comprehensive Plan.
The site is positioned just off Old National Highway in the City of South Fulton. The listing notes accessibility to Hartsfield-Jackson Atlanta International Airport and Downtown Atlanta, and it highlights that shopping and dining destinations are located directly across the street, with established national retailers and restaurants nearby.
For buyers considering future commercial, office and institutional, senior housing, or residential development, the property is included in the City’s “Regional Live/Work” future land use category. The remarks also identify potential future uses (subject to rezoning, site plan approval, and applicable city requirements), including C-1, C-2, Office & Institutional (O&I), Senior Housing (SH), and residential densities of approximately 25–50 units per acre for apartments or townhomes. Buyers are encouraged to confirm zoning, future land use, density, and development requirements with the City of South Fulton during due diligence.
The site is positioned just off Old National Highway in the City of South Fulton. The listing notes accessibility to Hartsfield-Jackson Atlanta International Airport and Downtown Atlanta, and it highlights that shopping and dining destinations are located directly across the street, with established national retailers and restaurants nearby.
For buyers considering future commercial, office and institutional, senior housing, or residential development, the property is included in the City’s “Regional Live/Work” future land use category. The remarks also identify potential future uses (subject to rezoning, site plan approval, and applicable city requirements), including C-1, C-2, Office & Institutional (O&I), Senior Housing (SH), and residential densities of approximately 25–50 units per acre for apartments or townhomes. Buyers are encouraged to confirm zoning, future land use, density, and development requirements with the City of South Fulton during due diligence.
Key Highlights
- 1.88‑acre assemblage at 2464 Woodward Rd (approx. 1.00 acre) plus adjacent Parcel 13 0132 LL0351 (approx. 0.88 acre)
- Located just off Old National Highway, about 5 miles from Hartsfield‑Jackson Atlanta International Airport and under 15 miles from Downtown Atlanta
- City of South Fulton Comprehensive Plan places the parcels in Regional Live/Work future land use category with potential C‑1, C‑2, O&I, SH, and residential
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
$27,294
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
4.55%
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%
$545,880
$545.9K
Cap Rate 7%
$389,914
$389.9K
Cap Rate 9%
$303,267
$303.3K
Market Conditions
NOI Build-Up for 2,176 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
$54.8K $25.20/SF
− Vacancy
−$5.2K −$2.39/SF
EGI
$49.6K $22.81/SF
− OpEx
−$22.3K −$10.26/SF
NOI
$27.3K $12.54/SF
Area
ZIP 30349
Vacancy
9.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$545,880
Cap Rate 7%
$389,914
Cap Rate 9%
$303,267
Alternative Uses
Best Use
Apartment 5plus
$389.9K
$341.2K – $454.9K
NOI $27,294 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$611.0K
$534.6K – $712.9K
NOI $42,771 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 30349, GA
81,320
Population
34,176
Households
2.4
Avg Household Size
35
Median Age
32%
College-Educated
91%
High-School Grad
45.9 sq mi
ZIP Area
1,772
Density / Sq Mi
$64,732
Median Household Income
$39,195
Median Earnings
$1,323
Median Rent
$236,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 1.88-acre land assemblage near Old National Highway with comprehensive plan “Regional Live/Work” future land use.
Where is this commercial land located?
The property is located at 2464 Woodward Road Atlanta, GA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 1.88‑acre assemblage at 2464 Woodward Rd (approx. 1.00 acre) plus adjacent Parcel 13 0132 LL0351 (approx. 0.88 acre); Located just off Old National Highway, about 5 miles from Hartsfield‑Jackson Atlanta International Airport and under 15 miles from Downtown Atlanta; City of South Fulton Comprehensive Plan places the parcels in Regional Live/Work future land use category with potential C‑1, C‑2, O&I, SH, and residential
