Renovated Mixed-Use
For Sale
$7,400,000
251 Trinity Ave SW, Atlanta, GA 30303
The property combines renovated apartments with street-level retail and entertainment spaces.
Property Size35,000 SF
Lot Size0.30 Acres
Price / SF$211.43
Days on Market40
Property Features for 251 Trinity Ave SW
General Information
Standard status
Active
Size
35,000 SF
Lot size
0.30 Acres
Zoning
SPI-1
Additional Details
Asking Price
$7,400,000
Building Details
Year Built
1920
Listing Agency:
Engel & V?lkers Atlanta
(404) 845-7724
Listed By:
Tyler Russell · License #358216
Source:
Jetsetrealty
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 25 at 4:55AM
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 Engel & V?lkers Atlanta
Investment Insights
Based on property information with market context.
Located at 251 Trinity Ave SW in Downtown Atlanta, this mixed-use property occupies three contiguous parcels totaling approximately 0.30 acres. Built in 1920, the asset includes renovated apartments, street-level retail occupied by a tattoo shop and salon, and restaurant, lounge, and nightclub areas with tenant buildouts underway. A new roof and apartment updates are among the completed improvements.
The property is situated near Atlanta Tech Village’s downtown campus and Wild Leap Brewery, with additional development activity in the surrounding area. SPI-1 zoning is identified for the site. The combination of residential units, retail storefronts, and entertainment-oriented spaces creates a varied physical configuration within one urban property.
The property is situated near Atlanta Tech Village’s downtown campus and Wild Leap Brewery, with additional development activity in the surrounding area. SPI-1 zoning is identified for the site. The combination of residential units, retail storefronts, and entertainment-oriented spaces creates a varied physical configuration within one urban property.
Key Highlights
- 35,000 SF mixed‑use property across three contiguous parcels
- Approximately 0.30 acres in Downtown Atlanta
- Renovated apartments and updated building systems
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
$473,760
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
6.40%
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%
$9,475,200
$9.5M
Cap Rate 7%
$6,768,000
$6.8M
Cap Rate 9%
$5,264,000
$5.3M
Market Conditions
NOI Build-Up for 35,000 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
$672.0K $19.20/SF
− Vacancy
−$40.3K −$1.15/SF
EGI
$631.7K $18.05/SF
− OpEx
−$157.9K −$4.51/SF
NOI
$473.8K $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 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%
$9,475,200
Cap Rate 7%
$6,768,000
Cap Rate 9%
$5,264,000
Alternative Uses
Best Use
Specialty Retail
$6.77M
$5.92M – $7.90M
NOI $473,760 @ 7.0% cap · market cap 6.40%
Second Best
Mixed Use
$6.07M
$5.32M – $7.09M
NOI $425,250 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$9.78M
$8.56M – $11.41M
NOI $684,869 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,856
Businesses Nearby
Explore this area
Business Placement
Demographics for 30303, GA
9,352
Population
1,625
Households
5.8
Avg Household Size
25
Median Age
25%
College-Educated
88%
High-School Grad
1.0 sq mi
ZIP Area
9,352
Density / Sq Mi
$9,322
Median Earnings
$1,705
Median Rent
$250,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines renovated apartments with street-level retail and entertainment spaces.
Where is this mixed-use property located?
The property is located at 251 Trinity Ave SW Atlanta, GA.
What is the asking price?
The asking price for this property is $7,400,000.
What are key features of this property?
This property features: 35,000 SF mixed‑use property across three contiguous parcels; Approximately 0.30 acres in Downtown Atlanta; Renovated apartments and updated building systems
