Three-Parcel Mixed-Use
For Sale
$7,400,000
251 Trinity Avenue SW, Atlanta, GA 30303
Commercial Sale, Other - Atlanta, GA
Property Size35,000 SF
Lot Size0.03 Acres
Price / SF$211.43
Days on Market63
Property Features for 251 Trinity Avenue SW
General Information
Property type
Commercial Sale
Property subtype
Mixed Use
Parking features
None
Interior features
Beamed Ceilings, Track Lighting
View
City
Directions
Trinity and Ted Turner Dr
Standard status
Active
APN
14 007700050145
Lot size
0.03 Acres
Utilities
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Building Details
Year built
1920
Flooring type
Brick, Carpet, Hardwood, Tile, Tile - Ceramic
Roof type
Other
Architectural style
Other
Listing Agency:
Engel & Völkers Atlanta
(404) 845-7724
Listed By:
Tyler Russell
(404) 510-2246
Added: Jun 29
Changed: Jul 15
Last Checked: Aug 30 at 7:06PM
MLS# 7589586
Copyright © 2026 Engel & Völkers. 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.
Mixed-use property for sale at 251 Trinity Avenue SW offering approximately 35,000 SF across three contiguous parcels (about 0.30 acres). The building combines street-level retail with apartments, and the current tenant mix includes recently renovated apartments plus street-level concepts such as a tattoo shop and salon, along with multiple restaurant/lounges/nightclubs where new tenant buildouts are underway.
Extensive renovations have already been completed, including a brand-new roof and modernized apartments. The property is positioned in Downtown Atlanta and is identified as SPI-1 zoning, supporting redevelopment flexibility.
With multiple revenue streams under one roof, this asset has an established in-place rental base alongside continued leasing activity through the ongoing buildouts.
Extensive renovations have already been completed, including a brand-new roof and modernized apartments. The property is positioned in Downtown Atlanta and is identified as SPI-1 zoning, supporting redevelopment flexibility.
With multiple revenue streams under one roof, this asset has an established in-place rental base alongside continued leasing activity through the ongoing buildouts.
Key Highlights
- Prime Downtown Atlanta Location: Situated in a rapidly developing area near Atlanta Tech Village and Wild Leap Brewery.
- Strong In‑Place Cash Flow: Generates a projected Net Operating Income of $430,000 from a diversified tenant mix.
- Significant Redevelopment Potential: SPI‑1 zoning offers unparalleled flexibility for future redevelopment projects.
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
$425,250
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
5.75%
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%
$8,505,000
$8.5M
Cap Rate 7%
$6,075,000
$6.1M
Cap Rate 9%
$4,725,000
$4.7M
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
$756.0K $21.60/SF
− Vacancy
−$75.6K −$2.16/SF
EGI
$680.4K $19.44/SF
− OpEx
−$255.2K −$7.29/SF
NOI
$425.3K $12.15/SF
Area
Atlanta, GA
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$8,505,000
Cap Rate 7%
$6,075,000
Cap Rate 9%
$4,725,000
Alternative Uses
Best Use
Mixed Use
$6.07M
$5.32M – $7.09M
NOI $425,250 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$5.52M
$4.83M – $6.43M
NOI $386,059 @ 7.0% cap · market cap 5.22%
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
Lease Details
Multi-tenant
Tenancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three contiguous parcels with street-level retail and apartments, including extensive renovations and a recently replaced roof.
Where is this mixed-use property located?
The property is located at 251 Trinity Avenue 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: Prime Downtown Atlanta Location: Situated in a rapidly developing area near Atlanta Tech Village and Wild Leap Brewery.; Strong In‑Place Cash Flow: Generates a projected Net Operating Income of $430,000 from a diversified tenant mix.; Significant Redevelopment Potential: SPI‑1 zoning offers unparalleled flexibility for future redevelopment projects.
